Sensex, Nifty Clock Longest Rally In Nearly Five Months
Indian equity benchmarks posted their longest winning streak since November as investors shrugged off disappointing Infosys earnings to focus on the just-started earnings season.
The S&P BSE Sensex rose 0.3 percent to 34,302 while the NSE Nifty 50 gained 0.5 percent to 10,530. The market breadth was tilted in favour of the sellers all through the session.
Twelve of the 19 sectoral gauges compiled by BSE Ltd. advanced led by healthcare and real estate. Meanwhile, S&P BSE Information Technology Index dropped 0.74 percent, snapping a four-day rally.
Metropolis Healthcare Mulls Rs 1,500 Crore IPO
Metropolis Healthcare Ltd., an operator of medical diagnostic centers backed by Carlyle Group LP, is considering an initial public offering to raise about Rs 1,500 crore ($230 million) as it seeks acquisitions.
The sale will likely include a partial stake held by the founders as well as new shares, Managing Director Ameera Shah, 38, told Bloomberg in an interview. A time frame for the offering has not been set and the company hasn’t appointed an adviser for the sale, she said.
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Kotak Mahindra Bank Overtakes ICICI Bank
Pharma Stocks Lead The Comeback
A benchmark of the country’s top drugmakers rose as much as 1.5 percent, the most in nearly two weeks.
Indiabulls Ventures Jumps On Heavy Volumes
Shares of the broking services provider jumped as much as 19 percent, the biggest move since Feb. 8, 2017.
Trading volume was 16.4 times the 20-day average for this time of day. The stock has risen 45 percent in the past month, compared with the 2.9 percent advance in the Sensex Index.
Other Volume Movers
- DCB Bank: The stock is up 3.3 percent with trading volumes at nearly 6 times its 20-day average
- India Cements: The stock is up 3.1 percent with trading volumes at nearly 6 times its 20-day average nearly twice its 20-day average