Saturday Trading Gets Nifty To Attain 22,500 Levels; All Indices End Green

In a special session on Saturday, stock exchanges tested a failsafe mechanism for equity trading.

Notably, Indian benchmark indices, Nifty and Sensex along with the sectoral indices traded in the green territory. Among sectoral peers, Pharma and PSU Banks displayed the highest surge of 0.67 per cent each. Auto, IT and FMCG also ended with slight gains, 

The National Stock Exchange (NSE) Nifty 50 index ended 0.16 per cent higher at 22,502, whereas the Bombay Stock Exchange (BSE) Sensex settled 88 points or 0.12 per cent up at 74,005 levels on the closing bell. 

Nifty Moves

In the Nifty50 index, 37 stocks ended in the green territory and 12 stocks concluded in the red, while Tata Consumer declined to fluctuate and ended with no change.

Nestle India soared highest with nearly 2.5 per cent to trade as Nifty top gainer after the firm’s shareholders rejected the scheme to increase royalty payment to its parent company. Power Grid traded more than 1 per cent higher, while Tata Motors, Hindalco and ONGC also traded in green.

Albeit, in the laggard segment, JSW Steel slumped nearly 2 per cent after the steel maker registered a dip in its fourth quarter profit. Mahindra & Mahindra, Maruti and LTI Mindtree also traded with loss. 

The more domestically focussed indices, Mid-cap and Small-cap indices gained 0.51 per cent and 0.82 per cent respectively. 

Stocks Specific

Drug maker Zydus Lifesciences rallied 5 per cent to Rs 1,103 after the firm beat profit estimates on strong US demand.

On the other hand, Delhivery plummeted 4.17 per cent  after the logistics firm turned into losses and clocked Rs 68.5 crore loss in the fourth quarter against the profit of Rs 11.7 crore in the third quarter. 

Switch To DR Site

As exchanges evaluated how their systems would react in the event of unforeseen occurrences, Indian equities traded in two special sessions, first, from 9:15 am to 10 am from a primary site and second, from 11:30 am to 12:30 pm from a disaster recovery (DR) site.

After the NSE and BSE experienced a significant trading outage on 24 February 2021, due to a technical malfunction that prevented the bourses from migrating to the disaster recovery site, India's markets regulator had closely examined the stock exchanges.