Sensex, Nifty Close At Record Highs; Jet Airways Slumps 8%
Closing Bell: Sensex, Nifty Close At Fresh Highs
Indian equity indices closed at record highs as investors weighed on earnings growth and election outcome.
The S&P BSE Sensex ended 0.95 percent higher at 39,275.65 and the NSE Nifty 50 rose 0.83 percent to 11,787.15 at close. The broader market index represented by the NSE Nifty 500 Index ended 0.67 percent higher.
The market breadth was tilted in favour of buyers. About 871 stocks advanced and 856 shares declined on National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Private Bank Index’s 1.78 percent gain. On the flipside, the NSE Nifty Media Index was the top sectoral loser, down 1.16 percent.
Stocks Moving On Heavy Volumes
Adani Green Energy:
- Shares gained as much as 20 percent to Rs 44.90 apiece.
- The trading volume was more than 17 times the 20-day average for this time of the day, according to Bloomberg data.
- Shares rose close to 13 percent to Rs 396.40 apiece.
- The trading volume was more than eight times the 20-day average for this time of the day, according to Bloomberg data.
- Shares declined 3.4 percent intraday to 278 per share.
- The trading volume was more than triple times the 20-day average for this time of the day, Bloomberg data showed.
- Shares surged as much as 9 percent to Rs 1610 apiece.
- The trading volume was more than five times the 20-day average for this time of the day, Bloomberg data showed.
Europe Market Check: Equities Gain For The Fourth Session
European stocks rose for the fourth straight session, with 16 out of 19 industry groups posting gains.
Jet Airways Falls The Most In Nearly Four Years
Shares of the cash-strapped airline plummeted as much as 18.5 percent, the biggest slide since August 2015, to Rs 213.20 apiece.
An aviation ministry official said over 25 of 209 slots of Jet Airways were distributed to other airlines as per demand while a decision on total slots will be taken by Friday.
Also, its founder Naresh Goyal opts out of bidding for a stake in the ailing airline, PTI reports citing unidentified sources.
Ramco Systems Gains After Deal Win
Shares of the Chennai-based IT firm rose close to 2.6 percent to Rs 243.50 per share.
The company won a contract from Nigeria-based aviation company Caverton Helicopters Limited for providing digital transformation services, according to its exchange notification.
The stock traded 43 times its estimated earnings per share, according to Bloomberg data.