Sensex, Nifty Halt Longest Losing Streak In Nearly 10 Months
Closing Bell: Sensex, Nifty Halt Longest Losing Streak In Nearly 10 Months
Indian equities halted their seven-day losing streak, their longest losing streak since May 13, 2019.
The S&P BSE Sensex advanced 1.26 percent or 480 points to end at 38,623.70 and the NSE Nifty 50 rallied 1.53 percent to close at 11,303.30. Both the indices registered their best one-day rally in a month.
The broader markets represented by the NSE Nifty 500 Index advanced 1.59 percent.
The market breadth was tilted in favour of buyers. About 1,015 stocks advanced and 757 shares declined on National Stock Exchange.
All the 11 sectoral gauges compiled by the NSE ended higher, led by the NSE Nifty Metal Index’s 5.6 percent advance.
Stocks Moving On Heavy Volumes
- Stock rose as much as 3.2 percent to Rs 2,520.
- Trading volume was more than 40 times its 20-day average.
- Stock swung from a fall of as much as 2.9 percent to gain as much as 2.6 percent.
- Trading volume was more nine times its 20-day average.
Solar Industries India
- Stock swung from a gain of as much as 1.9 percent to fall as much as 1.5 percent.
- Trading volume was more than eight times its 20-day average.
Fab Four Stocks Of The Day
- Stock rose as much as 3.9 percent to Rs 690.
- Citi-Maintained ‘Buy’ with a price target at Rs 794.
- Hotter than usual summer bodes well for the AC demand.
- Large manufacturers have taken a 3-5 percent price hike.
- Component prices have increased on lower production in China, higher shipment cost.
Newgen Software Technologies
- Stock rose as much as 6.5 percent to Rs 207.
- Secures a patent for a system and method for automatic quality assessment of digital documents.
- The patent is valid until March 2030.
Bliss GVS Pharma
- Stock rose as much as 14.5 percent, the most since October 2019, to Rs 113.65.
- Shares halted their seven-day losing streak.
- Stock rose as much as 4.8 percent to Rs 2,210.
- Fresh longs seen with high open interest of 18 percent.
Market Check: Sensex Jumps Over 600 Points; Nifty Above 11,300
Indian equities regained momentum and traded at day’s high.
The S&P BSE Sensex rose as much as 1.6 percent to 38,754.24 and the NSE Nifty 50 rose as much as 1.9 percent to 11,342.25. The broader markets represented by the NSE Nifty 500 Index rose as much as 1.8 percent.
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