Sensex, Nifty Hold Weekly Gains Amid Volatile Trade
Closing Bell: Sensex, Nifty Resume Weekly Gains After A Blip Last Week
Indian equity benchmarks resumed weekly gains after a blip last week.
This after the benchmark indices witnessed a topsy-turvy trade today. The S&P BSE Sensex Index ended 0.07 percent lower at 35,871.48 and the NSE Nifty 50 Index ended at 10,791, up 0.02 percent.
The market breadth, however, was tilted in favour of buyers. About 1,168 stocks advanced and 558 shares declined on National Stock Exchange.
Eight out of 11 sectoral gauges compiled by NSE advanced, led by the NSE Nifty Metal Index’s 1.65 percent rally. On the flipside, the NSE Nifty Private Bank Index was the top sectoral loser, down 0.78 percent.
Block Deal Alert: Axis Bank
About 15.3 lakh shares changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Global Markets Update: European Equities Gain
European equities rose along with the U.S. equity futures after a mixed session in Asia as investors awaited results from top-level trade talks between America and China.
Suzlon Energy Extends Gain, Shares Jump Nearly 26%
Shares of Suzlon Energy extended gains for the fourth day and rose as much as 28.8 percent to Rs 5.60. The stock has gained nearly over 56 percent this week.
Trading volume was 5.9 times its 20-day average, Bloomberg data showed. The scrip fell 57 percent over the past year compared to an 7.3 percent advance in the Sensex.
Dr. Reddy’s Laboratories Extends Gain on FDA Boost
Shares of Dr. Reddy’s Laboratories extended gains for the second day and rose as much as 2.2 percent to Rs 2,643.
The U.S. drug regulator completed the audit of the drugmaker’s Louisiana plant with zero observations, the company said in its stock exchange filing.
Dr. Reddy’s Laboratories traded at 25 times its estimated earnings per share for the coming year, Bloomberg data showed.