Image Source: Unsplash
After opening on a firm note, the markets turned extremely volatile and ended the day in green.Domestic benchmark indices Sensex and Nifty rose marginally on Friday tracking positive cues from global markets. On a Sectoral basis, metal, pharma, and realty indices led the charge. Even broader markets witnessed healthy buying action.At the closing bell, the BSE Sensex ended in green by 242 points (up 0.3%).Meanwhile, the NSE Nifty also closed higher by 94 points (down 0.4%).GAIL, Wipro, and HCL Tech were the top gainers today.Grasim, SBI, and Bajaj Finance, on the other hand, were among the top losers today.The GIFT Nifty was trading at 21,385, down by 35 points, at the time of writing.Border indices ended on a positive note with the BSE MidCap index up by 0.7% while the BSE SmallCap index soared by 1%.All sectoral indices ended in green with stocks in the Metal sector, IT sector, Auto sector, and Pharma sector witnessing most of the buying.Now track the biggest movers of the stock market using stocks to watch today. This should help you keep updated with the latest developments…Asian share markets ended on a negative note. The Shanghai Composite ended 0.1% in red while the Nikkei ended flat. The Hang Seng closed 1.7% in red.The rupee is trading at 83.17 against the US$.Gold prices for the latest contract on MCX are trading 0.5% higher at Rs 62,802 per 10 grams.Silver for the latest contract on MCX is also trading in green by 0.4% at Rs 75,753 per 1 kg.
Infosys 5 Year Deal with LKQ EuropeIn news from the IT sector, Infosys has announced a five-year collaboration with LKQ Europe, a leading automotive parts distributor.The collaboration aims to transform LKQ Europe’s business processes by integrating multiple strategic acquisitions, harmonizing business processes, improving product availability, and enabling faster delivery to end customers.Infosys is known for its expertise in ERP deployment and will play an important role in executing this IT-related business transformation.LKQ Europe’s objective is to reduce complexities, boost efficiency, and leverage strengths for a more impactful organization.This initiative aligns with Infosys’ commitment to long-term collaborations and follows its recent trend of securing extended-duration deals in Europe, including a five-year agreement with electric vehicle (EV) manufacturer Smart Europe GmbH.The partnership underscores the importance of innovative solutions to streamline operations, support growth, and elevate customer experience in LKQ Europe’s position as a leader in the automotive aftermarket industry.Mr. Jasmeet Singh, EVP & Global Head of Manufacturing at Infosys, expressed the company’s commitment to delivering solutions that align with LKQ Europe’s goals and drive success in the rapidly evolving automotive sector.Today, the share is trading 0.5% higher than its previous close and has offered 20% returns in the last 6 months.
Why Bharat Electronics Share Price is RisingMoving on with the news from the defense sector.On Friday, 22 December 2023, the share price of Bharat Electronics rose by 2%.This rally came after the company announced that it had secured an order totaling Rs 26.7 billion (bn) from Goa Shipyard and Garden Reach Shipbuilders & Engineers.The orders, valued at Rs 17 bn and Rs 9.7 bn, respectively, are for the supply of 14 types of sensors designated for Next Generation Offshore Patrol Vessels (NGOPV).This initiative falls under the ‘Atmanirbhar Bharat’ program, fostering the participation of electronic industries and related MSMEs as sub-vendors of BEL.These orders contribute to the strategic vision of enhancing India’s self-reliance in defense manufacturing. The sensors supplied by BEL play a crucial role in the NGOPV’s advanced systems, supporting maritime security and defense capabilities.In addition to the sensor orders, BEL disclosed receiving extra orders worth Rs 861 million (m) for miscellaneous spares and services since its last update on 15 December 2023. With these developments, BEL’s cumulative order book for the current fiscal year now stands at Rs 259 bn.
Pharma Stocks rally up to 8% today. Here’s why
Moving on to news from the pharma sector, shares of a clutch of pharma and diagnostic companies rallied up to 8% on 22 December to hit their respective 52-week highs.The rise comes in the wake of a fresh spate of Covid cases. India recorded 640 COVID-19 infections by the new sub-variant called JN.1 on 22 December, bringing the total active cases to 2,997.The Nifty Pharma index surged over 1% to hit a 52-week high of 16,500.9 during the day.The stock of Piramal Pharma zoomed over 8 percent to hit a 52-week high of Rs 140.2 on the BSE. It has surged 16 percent so far, largely in line with the benchmark Sensex.AstraZeneca Pharma shares also surged over 8% to a 52-week high of Rs 5,193.8. The rise comes a day after the company announced that it will launch Trastuzumab Deruxtecan, also known as Enhertu, which is used in the treatment of HER2-positive breast cancer, in January 2024.More By This Author:Sensex Today Trades Higher; Realty Stocks ShineSensex Today Ends 359 Points Higher; Nifty Ends Above 21,000Sensex Today Trades Lower; IIFL Finance Tanks 5%