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An evening walk down Dalal Street | Indices off to a flying start; Sensex up 373 pts; HUL up 5%

Loknath Das November 26, 2018 Business Comments Off on An evening walk down Dalal Street | Indices off to a flying start; Sensex up 373 pts; HUL up 5%
An evening walk down Dalal Street | Indices off to a flying start; Sensex up 373 pts; HUL up 5%

Shares were off to a flying start on Monday, thanks to a sharp rally among consumption names in the last couple of hours. These, combined with a positive move on the rupee helped the indices end on a strong note. The Nifty closed above 10,600-mark.

Recovery in prices of crude oil too failed to have any significant impact on the market, as the commodity traded below USD 60 per barrel.

Among sectors, financials, automobiles, consumption, and IT names were in the green, while investors sold metals and pharmaceuticals segments. In the broader markets, Nifty Midcap index underperformed benchmarks, but closed with gains of around 0.2 percent.

At the close of market hours, the Sensex was up 373.06 points or 1.07% at 35354.08, while the Nifty ended higher by 101.80 points or 0.97% at 10628.60. The market breadth was negative as 1,080 shares advanced, against a decline of 1,508 shares, while 160 shares were unchanged.

Hero MotoCorp, Wipro, and HUL are the top gainers, while ONGC, Sun Pharma, and Yes Bank lost the most.

Stocks in News

GPT Infraprojects closed 4 percent higher after it bagged an order worth Rs 159.81 crore.

Shares of HCL Technologies, Bajaj Finance gained more than 1.2 percent after shares got included in the S&P BSE Sensex.

Share price of BEML added 2 percent as the company won an order for metro coaches to Mumbai metro line.

Shares of Esab India added 6 percent as company declared an interim dividend of 900 percent.

Share price of Paramount Communications locked at 20 percent upper circuit after Elara Capital reduced its stake in the company.

Bharti Airtel shares advanced as much as 2 percent after its Africa subsidiary appointed merchant bankers for initial public offering (IPO).

Godrej Properties shares gained 3 percent after signing joint venture agreement with Hero Cycles for prime office development in Gurgaon.

Axis Bank shares gained 3 percent after global investment firm HSBC upgraded the stock to buy from hold and also raised target price by 24 percent.

[“source=cnbc”]

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