Sensex down by 53 points, benchmarks end flat

Adani Power has soared 19% in intra-day trade, hitting a record high of Rs 151. Torrent Power and Tata Power has gained over 4% each on the BSE.

Broader markets scaled fresh record peaks as stock-specific action dominated the equity markets today. The BSE-barometer of 30 shares ended at 52,275 levels. It went down 53 points or 0.10% while the Nifty50 stopped performing at the 15,740-mark.  It was down at 11.5 points or 0.07%.

The top gainers of the indices were – Tech M, Tata Motors, HCL Tech, Indian Oil Corporation and Infosys. Meanwhile, the top laggards were –  Tata Steel, JSW Steel, Hindalco, HDFC and Kotak Bank.

The BSE MidCap index hit a record peak for the fifth consecutive day, today, at 22,822.6 levels. It ended the day at 22,769.5 levels, 0.36%. On the other hand, the SmallCap counter closed 0.9% higher at 24,827 levels.

Chief Investment Strategist at Geojit Financial Services, Dr. V.K. Vijayakumar, warns investors against the “excessive rally” in the broader market. Any correction in the market will be felt more in the mid, small-cap stocks due to lack of depth in the segment.

Apart from this, the shares of Piramal Enterprises zoomed over 11% over to Rs 2,183 on the BSE in intra-day trade. It surged 17% in 2 days. The Mumbai Bench of the National Company Law Tribunal (NCLT) approved the Group’s resolution plan for Dewan Housing Finance Ltd (DHFL).

After the Mumbai bench’s approval, the DHFL’s stock locked in the upper circuit for the second straight day.  Up at 10% at Rs 22.85 on the BSE with only buyers seen on the counter.

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