Sensex gains 196 points, Nifty tops 10,850; PSBs jump up to 12%
Heavy buying in financials, autos, metals and pharma counters and positive global cues lifted the equity markets on Friday.
The S&P BSE Sensex added 196 points or 0.55 per cent to settle at 36,064, while the NSE’s Nifty50 index closed at 10,863.50, up 71 points or 0.66 per cent.
On a weekly basis, the 30-share index Sensex rose 0.53 per cent while Nifty gained 0.66 per cent.
Among individual stocks, shares of SBI Life Insurance climbed 5.47 per cent to Rs 612.25 on the BSE after CA Emerald Investments (“Emerald”) acquired 9 per cent stake in the company through open market on Friday. The stock made a sharp rebound after falling over 12 per cent in the early trade.
Shares of SML Isuzu were locked in upper circuit of 20 per cent at Rs 682 on the BSE after the company reported strong 33 per cent year-on-year (YoY) growth in total sales at 1,282 units in February.
On the contrary, Bharti Airtel ended over 3 per cent lower at Rs 307.75 apiece on BSE after the company said its board of directors approved a fund raising plan of up to Rs 32,000 crore through a mix of rights issue and bond.
Sectorally, all the indices ended in the green, with media stocks advancing the most, followed by PSU banks and metals. The Nifty PSU Bank index ended over 2.50 per cent higher at 2,832 levels with all the 12 constituents ending in the positive territory.
In the broader market, S&P BSE MidCap index gained 184 points or over 1 per cent to settle at 14,503 while S&P BSE SmallCap surged over 2 per cent to end at 13,982.
Shares of public sector banks (PSBs) rallied up to 10 per cent on the bourses in intra-day trade after Finance Minister Arun Jaitley on Thursday assured government funding support to state-owned banks. Oriental Bank of Commerce and Union Bank of India soared 10 per cent each at Rs 91.95 and Rs 78.35, respectively, in intra-day trade. State Bank of India (SBI), Syndicate Bank, Bank of India, Punjab National Bank, Bank of Baroda, Vijaya Bank, Dena Bank, Allahabad Bank, Canara Bank, IDBI Bank and Indian Bank were up in the range of 1 per cent to 6 per cent.
Shares of SML Isuzu were locked in upper circuit of 20 per cent at Rs 682 on the BSE after the company reported strong 33 per cent year-on-year (YoY) growth in total sales at 1,282 units in February. It had sold 965 units in the same month last year. In January, the commercial vehicle maker had reported a single digit 6.3 per cent YoY growth in total sales at 997 units.
Shares of Ipca Laboratories surged 6 per cent to Rs 862 in intra-day trade on Friday, near its record high of Rs 907, touched on February 28, 2014. The stock has gained 9 per cent in the current week as compared to a 0.50 per cent rise in the benchmark S&P BSE Sensex in the same period.
Shares of Bharti Airtel dipped 5 per cent to Rs 303 on the BSE in intra-day trade after the company said its board of directors approved a fund raising plan of up to Rs 32,000 crore through a mix of rights issue and bond.
Sugar stocks surged up to 10% as govt approved Rs 10,540 cr as soft loans. Uttam Sugar Mills, Dharani Sugars & Chemicals, Triveni Engineering & Industries, DCM Shriram Industries, Thiru Arooran Sugars and Dwarikesh Sugar Industries were up in the range of 5 to 10 per cent on the BSE in intra-day trade.
Here are some picks from the week gone by.