Sensex, Nifty Log Best Weekly Gains In Over A Month
Closing Bell: Sensex, Nifty Log Best Weekly Gains In Over A Month
Indian equity benchmarks registered their best weekly gains since first week of November.
The S&P BSE Sensex advanced 1.4 percent this week to end at 41,009 and the NSE Nifty 50 rose 1.35 percent this week to close at 12,086.70.
Today, the 31-stock index closed 1.05 percent or 428 points higher and the 50-share gauge ended 0.96 percent or 114.90 points higher. The broader markets represented by the NSE Nifty 500 Index advanced 0.95 percent.
The market breadth was tilted in favour of buyers. About 1,172 stocks advanced and 609 shares declined on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty PSU Bank Index’s 4.03 percent rally. On the flipside, the NSE Nifty Pharma Index was the only sectoral loser, down 0.04 percent.
BGR Energy Systems Hits 20% Upper Circuit After Contract Win
Shares of BGR Energy Systems hit their upper circuit of 20 percent at Rs 35.70.
The company received a contract from Tamil Nadu Generation and Distribution Corporation Ltd. for worth Rs 4,472.75 crore) for the execution of 660 megawatt Supercritical ‘Ennore Thermal Power Station Expansion Project’ under EPC basis, according to its statement on the exchanges. “The overall contract completion period is 36 months from the date of Letter of Intent,” the company added.
Of the shares traded on NSE, 57 percent were at the ask price and 17 percent were at the bid, according to Bloomberg data.
Fab Four Stocks Of The Day
- Stock rose as much as 4 percent to Rs 945.70.
- Plans capex program at Dahej for Rs 450 crore over the next three-to-four years.
- Board has initially approved funding of Rs 90 crore for greenfield projects at Dahej and the funding will be done via internal accruals.
Union Bank of India
- Stock rose as much as 7.4 percent to Rs 59.95.
- Fresh longs seen with high open interest of 13 percent.
- Trading volume was 1.5 times its 20-day average.
- Stock rose as much as 9.6 percent to Rs 393.
- The company sold its stake in Majesco (USA) for $15.94 million, according to an exchange filing.
- This will help the firm’s U.K. unit to drive its growth strategy, the filing said.
- Stock rose as much as 17.7 percent to Rs 156.70.
- The company received license from Telengana Government for factory.
Market Check: Market Breadth Remains In Favour Of Buyers
The market breadth remained in favour of buyers. About 1,151 stocks advanced and 606 shares declined on National Stock Exchange.
Stocks Moving On Heavy Volumes
- Stock swung from a gain of as much as 2.3 percent to fall as much as 2.1 percent.
- Trading volume was more than 13 times its 20-day average.
- Stock fell as much as 2.6 percent to Rs 169.30.
- Trading volume was almost 10 times its 20-day average.
- Stock swung from a gain of as much as 0.58 percent to fall as much as 0.48 percent.
- Trading volume was almost seven times its 20-day average.
- Stock rose as much as 1 percent to Rs 4,044.90.
- Trading volume was more than six times its 20-day average.
Market Check: Sensex Tests 41,000; Nifty Approaches 12,000
Indian equity benchmarks extended gains to trade at day’s high.
The S&P BSE Sensex rose 1.02 percent or over 400 points to hover around 41,000 and the NSE Nifty 50 rose 0.92 percent to 12,083. The broader markets represented by the NSE Nifty 500 Index rose 0.89 percent.