Sensex ends 139 points higher in volatile trade; ONGC gains 5.7%
The domestic equity market ended Friday’s volatile session on a positive note amid healthy buying in financial, oil and gas, metal, and FMCG stocks.
The benchmark S&P BSE Sensex ended at 46,099, up 139 points, or 0.3 per cent while NSE’s Nifty ended at 13,514, up 36 points, or 0.26 per cent.
During the day, Sensex hit a record high of 46,309.63 while Nifty scaled an all-time high of 13,579.35.
Shares of Hinduja Global Solutions soared 17 per cent to Rs 1,148 on the BSE in intra-day trade on Thursday after the company’s subsidiary, HGS AxisPoint Health, partnered with Parkland Community Health Plan (PCHP) to provide disease management services to approximately 195,000 Medicaid beneficiaries in a seven-county area in North Texas.
Shares of Apollo Tyres advanced 7 per cent to hit a fresh 52-week high of Rs 194.70 on the National Stock Exchange (NSE) on Friday on the back of heavy volumes. The stock surpassed its previous high of Rs 191.80, touched on December 3, 2020. The trading volumes on the counter nearly doubled with a combined around 19 million equity shares changing hands on the NSE and BSE. In the past three months, Apollo Tyres’ stock price has zoomed 67 per cent, as compared to 19 per cent rise in the Nifty50 index.
A day after tumbling nearly 11 per cent on reports that a whistle-blower had alleged corporate governance lapses in the company and that its promoters had siphoned off funds, shares of UPL recovered a bit and rose as much as 4 per cent to Rs 456.40 in the intra-day deals on Friday. In a clarification on the reports, the company said that this was an old matter and was reported to the audit committee in 2017. After an independent probe, the matter was closed, it said.
The Zee Entertainment Enterprises stock has gained 14 per cent over the last two weeks on expectations of a gradual uptick in advertising growth, increase in viewership share and hopes of a recovery of dues from group companies such as Dish TV. Despite the recent recovery, the stock has been a key underperformer over the last six months, compared with the benchmark indices and the S&P BSE100 index.
Shares of NMDC climbed 5 per cent to Rs 113.50 on the BSE on Friday on reports that the benchmark iron ore prices have crossed the $150/tonne mark. Iron ore prices are at their highest level since 2013 and are currently at $157/tonne. According to a Bloomberg report, futures in Singapore have surged almost 70 per cent this year, hitting their highest since trading started in 2013, as China’s stimulus-led rebound fuels steel output and consumption.
Shares of Larsen & Toubro (L&T) were trading higher for the seventh straight session on Friday, up 2 per cent at Rs 1,217 on the BSE, amid expectation that awarding momentum may pick up going forward. Stock of the construction & engineering major was trading at its highest level since February 26, 2020. In the past one month, L&T has outperformed the market by gaining 15 per cent as against a 6-per cent rise in the S&P BSE Sensex.
Snowman Logistics, Navkar Corporation, Allcargo Logistics, Transport Corporation of India and Mahindra Logistics were up in the range of 7 per cent to 14 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.58 per cent at 46,228 points, at 09:38 am.
Shares of IRCTC were trading over 1 per cent lower in the morning session on Friday as the OFS opened for retail investors. The scrip was down 1.27 per cent at Rs 1,434.85 on BSE at around 9.50 am. The offer-for-sale for IRCTC witnessed a good response from non-retail investors yesterday as the issue was subscribed nearly two times on day one. Retail investors will get chance to bid for the OFS today, which is the last day for the issue.
Here are some picks from the week gone by.
