Sensex, Nifty Post Best Monthly Gain Since 2009
How Did The Markets Fare This Truncated Week
Leading The Nifty Higher
Closing Bell: Ending On A High
Indian equity markets ended the truncated week on a high, ending with gains for the fourth straight day, its longest winning streak since February this year.
The S&P BSE Sensex gained nearly 1,000 points in today's session, ending 3 percent higher at 33,717. For the week, the index was up 7.6 percent. 27 out of the 30 index constituents ended with weekly gains.
The NSE Nifty 50 index ended 3.2 percent higher at 9,859. 44 out of the 50 index constituents ended with gains. The index was up 7.7 percent this week.
Both benchmark indices have posted their best monthly gain since April 2009, registering gains of over 14 percent. This is the fifth straight year where both benchmarks have posted gains for the month of April.
Among sectoral indices, the Nifty Metal index ended with gains of 7.9 percent while the Nifty Auto index gained 6.4 percent in today's session. Nifty I.T. ended 5 percent higher while the Nifty Bank and the Nifty Realty index gained 2 percent each.
1,096 stocks on the NSE ended the day with gains while 697 ended with losses.
Stock Update: JSW Energy
- Gains as much as 11.2 percent to Rs 45.6
- Biggest one-day gain since June 2016
- Up for the second straight day
- Gains 12.5 percent in the last two sessions
- Trades at the highest level in a month
- Today's volumes are 3 times higher than its 30-day average
- 15 out of the 16 analysts tracking the stock have a buy recommendation; 0 sell calls
- Return potential of the stock as per Bloomberg data is 64.2 percent
Trading Ideas From Brijesh Singh Of StockAxis
- Buy TVS Motor at Rs 330 for target of Rs 345-350 and stop loss of Rs 318
- Buy HPCL at Rs 217 for target of Rs 227 and stop loss of Rs 210
Stock Update: Torrent Power
- Trades at the highest level since October 2010
- Up for the seventh straight day
- Longest winning streak in 3 months
- Up 14 percent in the last 7 sessions
- Today's volumes are 1.1 times higher than its 30-day average
- All 9 analysts tracking the stock have a buy recommendation
- Return potential for the stock as per Bloomberg data is 4.5 percent