Top 5 stocks of the day: Bajaj Finance, Adani Enterprises, HDFC, SBI Life Insurance, BPCL, Bajaj Finserv, Asian Paints, and HDFC Life insurance are the top gainers of Nifty 50. India’s benchmark Sensex gained 0.91 percent or 555.95 points to close at 61749.25 points while Nifty rose 0.92 percent or 165.95 points to 18255.80 points. Among sectoral indices all sectors ended higher except Nifty FMCG which fell 0.13 percent . Nifty Financial Services was the top gainer that rose 1.55 percent followed by Nifty Metal and PSU Bank which gained 1.3 percent each.
NIFTY 50 Top Stock Gainers
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Bajaj Finance | 6,388.00 | 3.36 | 1.20m |
| Adani Enterpris | 1,898.00 | 3.21 | 4.26m |
| HDFC | 2,865.15 | 2.78 | 4.60m |
| SBI Life Insurance | 1,167.55 | 2.7 | 2.28m |
| HDFC Bank | 1,732.55 | 2.33 | 27.95m |
| BPCL | 368.80 | 2.22 | 4.04m |
| Bajaj Finserv | 1,372.20 | 1.87 | 2.16m |
| Asian Paints | 2,981.65 | 1.77 | 976.69k |
| SBI | 580.55 | 1.76 | 12.13m |
| HDFC Life | 546.10 | 1.37 | 2.22m |
Rupee closes marginally higher against US dollar
The Indian rupee slightly strengthened against the US dollar at the closing after losing the majority of its gains. The currency increased by 0.04 percent to close at 81.80 against the dollar from its previous close of 81.83. The local currency peaked at 81.66 per dollar after starting the day at 81.68. A 2 basis point increase from its previous close of 7.007%, the 10-year bond yield was trading at 7.028%.
Top 5 stocks of the day: Centrum maintains Reduce rating on Havells India; revises target price Rs 1130 a share
Due to stretched valuations and the anticipated losses in Lloyd that will probably limit earnings, Centrum has maintained its Reduce rating on Havells India and revised its target price to Rs 1130. It’s imperative to monitor both customer demand and the return of electricity margins in order to get an informed assessment of the situation. The brokerage anticipates Havells India to report 14% CAGR in revenue over FY23–FY25E and 25% CAGR in profitability on a depressed base (12% CAGR over FY22–FY25E).
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