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| 24 September, 2020, 03:52 AM IST | E-Paper
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Sensex, Nifty end flat after hitting new highs; Titan surges 19%

Synopsis

Sensex and Nifty hit their fresh all-time high of 33,848.42 and 10,490.45, respectively.

Overall market breadth on D-Street remained in favour of bears.

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NEW DELHI: After scaling fresh record highs, both benchmark equity indices BSE Sensex and NSE Nifty trimmed their day’s gains in the second half following losses in European markets. The 30-share BSE Sensex closed 45.63 points, or 0.14 per cent, up at 33,731.19, while the 50-share NSE Nifty index settled almost flat 0.70 points, or 0.01 per cent, down at 10,451.80.

Sensex and Nifty both hit their fresh all-time high of 33,848.42 and 10,490.45, respectively, during the day.

Overall market breadth on D-Street remained in favour of bears as more than 30 stocks in Nifty index closed in red with HPCL falling the most 2.67 per cent, followed by Zee Entertainment (down 2 per cent), YES Bank (down 1.98 per cent), UPL (down 1.88 per cent) and Sun Pharma (down 1.82 per cent).

On the other hand, ONGC, Mahindra & Mahindra, Bharti Infratel, Tata Motors and Wipro gained between 2 per cent and 4 per cent.

Sectorwise, the BSE Consumer Durables index climbed 8.6 per cent, followed by Auto (up 1.16 per cent), IT (up 0.88 per cent), Realty (up 0.36 per cent), TECk (up 0.35 per cent) and Metal (up 0.30 per cent). The BSE Telecom, Power and Capital Goods slipped 1.08 per cent, 0.59 per cent and 0.38 per cent, respectively.

Jewellery stocks including Titan and PC Jeweller majorly supported the Consumer Durables index on Monday. Titan soared nearly 19 per cent post better-than-expected financial results for the quarter ended September 30, 2017.

Jewellery-to-watch maker Titan Company on Friday posted 67.45 per cent year-on-year rise in consolidated net profit at Rs 277.93 crore for the quarter ended September 30, 2017 against Rs 165.98 crore in the corresponding quarter last year. ET Now poll had predicted a net profit of Rs 217 crore in Q2FY18.

PC Jeweller settled 5.71 per cent up at Rs 374.

Midcaps and smallcaps continued to outpace large caps. The BSE Midcap index closed 0.46 per cent up at 16789.79, while the BSE Smallcap index settled 0.31 per cent up at 17,910.90. Indian Bank (up 8.71 per cent), Wockhardt (up 6.98 per cent) and Adani Enterprises (up 6.48 per cent) stood among top gainers in the Midcap index. On the other hand, TPL Plastech (up 20 per cent) and Kitex Garment (up 19.99 per cent) stood among top gainers in the Smallcap index.

Rahul Agarwal, Director Wealth Discovery said, “The market is waiting for fresh cues to gain momentum from here, however, positive outlook still remains intact. For Tuesday’s trade we will be watching Mannapuram Finance and IOB closely.” Both of these companies will announce their financial results for the quarter ended September 30, 2017 on Tuesday.

Japan's Nikkei 225 settled flat at 22,548.35, while South Korea's Kospi slipped 0.3 per cent to 2,549.41. Hong Kong's Hang Seng index closed nearly unchanged at 28,596.80, while the Shanghai Composite Index increased by 0.5 per cent to 3,388.17.
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)

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1 Comment on this Story

Krishan Kumar Totlani1052 days ago
The market pared most of gains to end flat after hitting all-time high intraday trade. While the Nifty50 ended flat,Sensex managed a fresh closing high up 45 points at 33731.