The key equity index Sensex ended flat while GAIL helped Nifty to finish on a positive note on Friday. The benchmark indices traded higher till the late afternoon trade but pared gains to close with minimal upside today.
The key equity index Sensex ended flat while GAIL helped Nifty to finish on a positive note on Friday. The benchmark indices traded higher till the late afternoon trade but pared gains to close with minimal upside today. BSE Sensex settled flat at 31,283.72 points while NSE Nifty ended 20 points higher at 9,788.6 points helped by the surge in shares of GAIL. The 30-share barometer Sensex rose 241 points to hit the day’s high of 31,523.87 points while the broader Nifty 50 jumped 85 points to mark the day’s high at 9,854 points in the intraday trade today. GAIL India’s shares surged nearly 8% in an early trade on Friday after the Petroleum And Natural Gas Regulatory Board (PNGRB) floated a consultation paper on the unified pipeline tariff proposing a 60% hike by the company. The stock of GAIL India closed 5.7% higher at Rs 418.85.
Shares of Bajaj Auto (up 2.34%), Bharti Airtel (up 1.63%), Adani Ports (up 1.51%), Mahindra & Mahindra (up 1.49%), Coal India (up 1.35%), Power Grid (up 1.22%) were the top gainers on the Sensex while HUL, Wipro, and TCS lost up to 2.4%. The stocks of heavyweight companies such as HDFC Bank, ICICI Bank, Maruti Suzuki, L&T, and Bajaj Auto contributed the most to the Sensex upsurge while a slump in ITC, TCS, HUL, and Reliance Industries offset all the gains. Most of the sectoral indices are ended in green except Nifty IT and Nifty FMCG. While Nifty Auto, Nifty Metal, and Nifty Realty gained up to 2.65%.
The broader equity benchmark of National Stock Exchange — Nifty — witnessed a shuffling on Friday and is now back to Nifty 50. The changes in the inclusion of stocks were effective post market hours of Thursday. In a recent shuffling, four heavyweight stocks went out of the index and three were added. The scrips of ACC, Bank of Baroda, Tata Power and Tata Motors DVR were excluded from Nifty 50 and that of Bajaj Finance, Hindustan Petroleum Corporation, and UPL were included in the index with effect from today, 29 September.
On account of inclusion, Bajaj Finance which is also among the best performing stock of this year. It had doubled investor wealth in just nine months since January 2017, rising about 120% and even today it rose 1.7% to hit the day’s high of Rs 1,875 before closing 0.37% lower at 1,836.1.