NIFTY50 and SENSEX close higher, Grasim and SBI zoom; Stock Market Highlights

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The NIFTY Midcap 100 index (-0.8%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (-1.4%) also closed in the red today.

The NIFTY Financial Services (+0.6%) index closed higher today, with SBI and ICICI Bank being the top gainers, while PFC and REC being the top losers.

The BANK NIFTY index (+1.3%) index closed in the green. Gains in ICICI Bank, SBI and Axis Bank propelled the index higher.

India’s benchmark indices – NIFTY50 (+0.3%) and SENSEX (+0.2%) – closed higher amid volatility. Out of the NIFTY50 universe, 27 stocks advanced. Meanwhile, Grasim, SBI and Apollo Hospitals are the top gainers.

Shares of the rail infrastructure company are down more than 8% today.

This comes after the company’s Q3 net profit declined 4.4% year-on-year to ₹325 crore.

India’s benchmark indices – NIFTY50 (+0.2%) and SENSEX (+0.1%) – are trading flat amid rising volatility. Out of the NIFTY50 universe, 27 stocks are advancing. Meanwhile, Grasim, SBI and Apollo Hospitals are the top gainers.

• Long build up: Sun Pharma, SBI, Hero MotoCorp, HDFC Bank and Reliance

• Short build up: Coal India, Power Grid, JSW Steel, HDFC Life and HCL Tech

Shares of Paras Defence are down more than 4% after subdued Q3 performance.

The net profit is down 32% on a year-on-year basis to ₹66 crore. However, the revenue was up 5% to ₹97 crore.

The IPO of the small finance bank is receiving strong interest on day 3. The public issue has been subscribed more than 8 times. Retail investors are flocking towards the IPO with the retail portion being subscribed around 4 times.

Click here to apply for the IPO on Upstox.