Nifty50: 17,516 ▲+47 (0.2%)
Sensex: 58,807 ▲+157 (0.2%)
- Nifty50 managed to close in green amidst a volatile session.
- 26 stocks from the Nifty50 pack advanced.
- Among the Nifty sectoral indices, Media (+3.5%) and FMCG (+1.4%) were the top gainers.
- Banks (-0.5%) and Financial Services (-0.4%) indices were the top losers.
| Top gainers | Today's change |
| ITC | ▲ 4.9% |
| L&T | ▲ 3.0% |
| Asian Paints | ▲ 2.2% |
| Top losers | Today's change |
| HDFC Bank | ▼ 1.7% |
| Titan | ▼ 1.3% |
| Nestle India | ▼ 1.1% |
For more updates on F&O, click here.
Here are the top stories of the day.
Sugar stocks sparkle
Shares of major sugar makers were upbeat today. Industry experts believe that sugar prices in both domestic and global markets will remain firm for at least the next one year.
The sugar industry has seen a substantial reduction in inventory over the last one year. This, in addition to the increasing diversion of sugarcane towards ethanol production, is keeping sugar prices up.
RailTel rises on Ircon order
Information and communications technology (ICT) infrastructure provider RailTel has announced that it has received orders worth ₹210 crore from Ircon International. The orders are for the commissioning of a tunnel communication system on a section of the Jammu Kashmir Rail Link Project. The project is to be completed within a period of 12 months.
The public sector player listed on the exchanges in February 2021. Since then, the stock is up over 30% from its issue price.
RateGain IPO oversubscribed
The IPO of software as a service provider RateGain was oversubscribed more than 17 times on Day 3. Similarly, IPOs of real estate developer Shriram Properties and digital maps provider CE Info Systems have also received strong interest from investors.
Shriram Properties was oversubscribed more than 1.5 times on Day 2. Meanwhile, CE Info Systems, which operates under the brand name MapmyIndia, was oversubscribed 1.7 times on Day 1. Further, footwear maker Metro Brands is all set to launch its IPO tomorrow. To apply for IPOs on Upstox, click here.
Closing bell
While the markets rose for the third day in a row, it was a volatile and range-bound trading session. The Nifty50 lacked clear direction. Further, the cues from the international indices were a mixed bag. The fading virus scare and upcoming festive season are adding cheer to multiplexes, hotels and travel services stocks. Meanwhile, banks saw some profit booking after rising sharply in the past two sessions.
Click here to join us on Telegram for trading and investment-related videos, daily market updates, details on upcoming IPOs and more.
Good to know
What is liquidity?
In market parlance, liquidity refers to the ease with which an asset or security can be converted into ready cash. Thus, cash is the most liquid asset of all. In simpler words, you can say how easily you can get money when you are in need.
For businesses, it's considered a sign of their efficiency in meeting short-term expenses. Assets like government securities, inventories, savings accounts are good examples of liquid assets, as you don't need to wait for weeks or months to encash them. On the other hand, assets like buildings or land cannot be sold or encashed at a short notice because the process has various stages. Therefore, they are considered long-term assets and are not included in liquidity calculations.
We'd love your thoughts on this market recap.
Haven't tried out Upstox yet? Click here to open your account now!