By Aamar Deo Singh, Head Advisory, Angel Broking Ltd
Indian markets today rose for the third consecutive day and ended on a positive note. Sensex was up by 223.51 points or 0.69% and closed at 32424.10, whereas Nifty was up by 90.20 points or 0.95% and closed at 9580.30.
Except IT, other sectors indices rose higher between 1-2%.
Market Gainers and Losers
In today’s trade, 1390 shares rose in value, whereas 924 shares declined and 159 shares remained unchanged in their value. Among the top gainers were ONGC (5.14%), Bajaj-Auto (4.15%), Sun Pharma (3.88%), ITC (3.38%), and Hero Motocorp (3.08%). The list of Sensex losers included Kotak Bank (0.38%), Axis Bank (1.96%), Reliance Industries (0.51%), TITAN (1.02%), M&M (0.83%), and TCS (1.68%). Broader market indices, also participated in the rally. Both the Nifty Midcap 100 index and Nifty smallCap 100 index gained over 1 percent in today’s trade to touch 13,273 and 4,002.80, respectively.
The biggest intraday gainer among major companies was Vodafone Idea share that rose by 35% after the news of Google eying a stake in the company was published by a foreign publication. The stock has been under pressure over the last one year amidst talks of company filing for bankruptcy in India.Other significant stocks that surged today included IT services firm Wipro (6.65) percent to Rs 212.55 after the company announced Thierry Delaporte as the new chief executive officer and managing director of the company,
Among other shares, Dr Reddy’s Lab soared up by (4.02%), JB chemicals & Pharmaceuticals were up by (3.67%), and Divi’s Lab rose up by (3.46%). Suven Life Sciences dropped by 4% at (3.96%), Alkem Labs at (3.03%) and Aarti Industries dropped at (1.10%). Future Consumer gained by 5% at (4.68%) and Colgate gained by 3% at (3.18%).
Stocks hit by COVID-19 face a huge impact as data proves that three of every five BSE 500 stocks are underperforming since March 24.
Fall in the Global Market
The Global stock markets fell on Friday as the investors awaited the response of US President Donald Trump to China after news reports quoted him saying that he will hold a press conference to announce action against the Asian country as a countermeasure to its decision to tighten control on Hong-Kong. The continued rift between US-China is likely to further affect the crude oil prices in the international markets.
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