ICICI Bank, Infosys Help Nifty Halt Three-Day Fall
Closing Bell: ICICI Bank, Infosys Help Nifty Halt Three-Day Fall
Indian equity benchmark—NSE Nifty 50—halted a three-day losing streak, led by the gains in ICICI Bank Ltd. and Infosys Ltd.
The 50-stock index rose 0.41 percent to close at 12,043.20 while the S&P BSE Sensex rose 0.43 percent to end at 40,750.29. The broader markets represented by the NSE Nifty 500 Index rose 0.4 percent.
The market breadth was tilted in favour of buyers. About 999 stocks advanced and 789 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty IT Index’s 1.7 percent advance.
Kotak Mahindra Bank Set To Close At Record High
Shares of Kotak Mahindra Bank rose as much as 0.3 percent to Rs 1,652. The stock is set to record high.
The scrip extended gains for the fourth consecutive trading session.
Stocks Moving On Heavy Volumes
- Stock rose as much as 4.5 percent to Rs 749.
- Trading volume was more than 10 times its 20-day average.
Larsen & Toubro Infotech
- Stock rose as much as 4.2 percent to Rs 1,684.75.
- Trading volume was more than six times its 20-day average.
- Stock rose as much as 1.9 percent to Rs 318.20.
- Trading volume was almost five times its 20-day average.
Fab Four Stocks Of The Day
- Company listed at a premium of 41 percent at Rs 275 per share on National Stock Exchange, compared to its issue price of Rs 195 apiece.
- The stock rose as much as 56 percent to Rs 304 thereafter.
- Stock rose as much as 3.4 percent to Rs 194.40.
- The company’s Dubai arm secures order from Middle East MNC to implement warehouse management services in Saudi Arabia.
- Stock rose as much as 3.6 percent to Rs 449.45.
- The company bought diabetic drug trademark from Novartis for $13 million.
- Stock rose as much as 4.9 percent to Rs 1,472.85.
- Fresh longs seen with high open interest of 13 percent.
- Trading volume was two times its 20-day average.
Market Check: Sensex, Nifty Trade Higher
Indian equity benchmarks reversed losses during the last-hour trade.
The S&P BSE Sensex rose 0.13 percent to 40,724.44 and the NSE Nifty 50 rose 0.13 percent to 12,009. The broader markets represented by the NSE Nifty 500 Index rose 0.15 percent.
Gujarat Fluorochemicals Gains For Second Day, Shares Surge 10%
Shares of Gujarat Fluorochemicals extended gains for the second consecutive trading session. The stock rose as much as 10.2 percent to Rs 498.30.
The analysts 12-month consensus price target tracked by Bloomberg stood at Rs 575, implying a potential upside of 17.8 percent from the current market price.