Sensex Posts Biggest Gain In Over A Week; Nifty Reclaims 10,000
The Indian equity benchmarks posted their biggest single-day gain in over a week on the back of buying in index heavyweights Larsen & Toubro, HDFC Bank and Maruti Suzuki.
The S&P BSE Sensex rose 0.6 percent to 31,882 and the NSE Nifty 50 Index advanced 0.72 percent to 10,006.
Fifteen out of 19 sector gauges compiled by BSE Ltd ended higher, led by the S&P BSE Capital Goods Index's 2.6 percent gain. On the flipside, the S&P BSE Healthcare Index lost 0.2 percent.
Nifty is trying to test its previous high of 10,137.85, said market expert PK Agarwal. “Technically, there is no strength in the market as short-term moving average is still less than the medium-term average.”
Agarwal said the index faces resistance around 10,100 on the upside, while on the downside support is seen around 9,780 levels.
JP Associates Slumps After Top Court Asks It To Deposit Rs 2,000 Crore
Shares of the Noida-based industrial conglomerate slumped as much as 9.85 percent, the most since August 29, to Rs 21.05 after the Supreme Court asked it to deposit Rs 2,000 crore.
The top court also allowed insolvency resolution professional Anuj Jain, appointed by the National Company Law Tribunal, to take over the management of Jaypee Infratech Ltd.
Stocks Gaining On Heavy Volumes
- Minda Corporation: The Noida-based electrical equipment maker surged as much as 17.6 percent, the most in over two years, to Rs 134.5. Trading volume was 49.6 times its 20-day average.
- Orient Cement: The Hyderabad-based cement maker rose as much as 4.17 percent, the most in over two months, to Rs 166. Trading volume was 23.8 times its day moving average.
- Repro India: The Mumbai-based printing company surged as much as 8.3 percent, the most since September 7, to Rs 740. Trading volume was 14.7 times its 20-day average.
- Liberty Shoes: The Haryana-based shoe maker was locked in 20 percent upper circuit, rising the most in over eight months to Rs 244. Trading volume was 31.8 times its 20-day average.