Nifty Logs Best Two-Day Gains Of 2018
Closing Bell: Sensex Surges Over 370 Points, Nifty Reclaims 11,500
Indian equity benchmarks rose for a second consecutive day, with the NSE Nifty 50 Index posting its best two-day rally of 2018, after consumer inflation fell below 4 percent for the first time this year in August.
The S&P BSE Sensex rose 0.99 percent or 373 points to 38,091 and the NSE Nifty 50 Index climbed 1.28 percent or 145 points to 11,515.20.
In the last two trading sessions, the Nifty rose 2 percent while the Sensex advanced 1.8 percent.
Data released by the Central Statistics Office on Wednesday, showed that retail inflation was at 3.69 percent in August compared to 4.17 percent in July. A Bloomberg poll of 41 economists had estimated inflation at 3.77 percent for August 2018.
In today’s trade, all 19 sector gauges compiled by BSE ended higher led by the S&P BSE Realty index’s 3.3 percent gain.
The mid- and small-cap shares outperformed larger peers as the S&P BSE MidCap Index climbed 1.6 percent and the S&P BSE SmallCap Index jumped 1.4 percent.
Ashok Leyland, SPARC Among Fab Four Stocks Of The Day
- Ashok Leyland: The Chennai-based commercial vehicle maker rose as much as 4.15 percent, the most in over a week, to Rs 133.15 after it won order for supply of 200 buses in Bangladesh.
- SPARC: The Mumbai-based drug research company rose as much as 7.8 percent to Rs 414 after the U.S. drug regulator approved new drug application for Xelpros.
- RCF: The Mumbai-based state-run fertiliser maker rose as much as 17.6 percent, the most in over three years, to Rs 79.85 after Cabinet approved transfer of land of Rashtriya Chemicals & Fertilizers to Mumbai Metropolitan Regional Development Authority and Municipal Corporation of Greater Mumbai.
- Vedanta: Shares of the Anil Agarwal-led mining conglomerate rose as much as 5.77 percent, the most in over a month, to Rs 236.50. Vedanta informed management committee, ministry of petroleum and natural gas and Directorate General of Hydrocarbons of a hydrocarbon Discovery in well A3-2 within its operated block KG-OSN-2009/3 within Krishna-Godavari Basin.
Market Check: Sensex Rises 400 Points, Nifty Reclaims 11,500
- Indian equity benchmarks extended gains led by private sector lenders, pharma and metal stocks.
- The S&P BSE Sensex rose 1 percent to 38,092 and the NSE Nifty 50 Index climbed 1.3 percent to 11,515.
- All 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Realty Index's 3.2 percent surge.
- The overall breadth was extremely positive as 1,807 shares were advancing while 800 were declining on the BSE.
SAIL Extends Gains After Block Deal
- Steel Authority of India has 13 lakh shares change hands in a block. Stock up 4.4 percent at Rs 78.25.
Buyers and sellers were not immediately known
Jindal Stainless, IEX Among Stocks Moving On Heavy Volumes
- Shree Renuka Sugars: The Mumbai-based sugar maker rose as much as 18.22 percent, the most in three months, to Rs 15.25. Trading volume was 38 times its 20-day average.
- Indian Energy Exchange: The Delhi-based power trading platform rose as much as 2.24 percent to Rs 1,735. Trading volume was 37.7 times its 20-day average.
- Jindal Stainless Hisar: The Delhi-based steel maker rose as much as 12.15 percent, the most in 14 months, to Rs 156.90. Trading volume was 12 times its 20-day average.
- Kolte-Patil Developers: The Pune-based real estate developer rose as much as 19 percent, the most in over two months, to Rs 320.20. Trading volume was 9.4 times its 20-day average.