Sensex gyrates 294 points, ends 19 points down; Nifty holds 15,900; IT, banks dip
Markets oscillated between gains and losses in Friday’s intra-day session as investors remained torn between strong corporate earnings back home and mixed global cues.
The benchmark S&P BSE Sensex ended today’s choppy trade 19 points down at 53,140 levels while the broader Nifty50 shut shop at 15,923-mark, down 1 point. Both the indices hit their respective lifetime highs of 53,291 and 15,962 in intra-day session.
HCL Tech (down over 3 per cent), Eicher Motors, Bajaj Finserv, Infosys, Tata Consumer Products, and Adani ports were the top drags on the benchmarks today. On the flipside, Divis Labs, Bharti Airtel, Ultratech Cement, and Tata Steel were the top gainers.
The mid- and small-cap indices meanwhile, outperformed and ended over 0.4 per cent higher each amid gains in shares of brokerage firms, IRCTC, AB Capital, Datamatics, and RPP Infra.
Shares of IRCTC have rallied 20% in July so far amid expectations of improved outlook after the company announced the resumption of two Tejas Express trains from August 7. On July 9, the company said that the Lucknow-New Delhi and Ahmedabad-Mumbai Tejas Express train service will resume from August 7 for four days a week. In comparison, the S&P BSE Sensex was up 1 per cent in past 12 trading days of July month. In the past three months, the scrip has surged 50 per cent, as against a 9 per cent gain in the benchmark index.
Nitin Spinners soars 18% in 3 days as CARE revises rating outlook to stable. In the past three months, the stock of textiles company zoomed 126 per cent, as compared to 9 per cent rise in the S&P BSE Sensex, ACE Equity data show. At 11:19 am; it was trading 11 per cent higher at Rs 182 on back of two-fold jump in trading volumes. A combined around 2.1 million shares have changed hands on the NSE and BSE.
Bandhan Bank declines 2% post Q1 business update. The lender witnessed an 8 per cent rise in its loans and advances to Rs 80,128 crore in the June quarter this fiscal, as per provisional data. Compared sequentially, it was down by 8 per cent. Its total deposits grew by 28 per cent YoY to Rs 77,336 crore, while the CASA deposits jumped by 48 per cent.
Here are some picks from the week gone by.
