Sensex rises 176 points to end above 56K for first time; BSE Midcap jumps 1%
Benchmark indices closed at fresh record closing highs in trade, led by gains in select index heavyweights, namely L&T, TCS and HDFC. Further, a positive global market sentiment also lent support to the indices.
BSE Sensex ended the day at 56,125, up 176 points or 0.31 per cent. It is for the first time that the index has settled above the 56,000 mark. Meanwhile, NSE Nifty after hitting a new record peak in intra-day session closed 68 points or 0.41 per cent higher at 16,705. It touched a new peak of 16,722.05 in trade earlier.
The broader markets, meanwhile, outperformed, rising for the fourth straight session. The BSE Midcap index added 1.04 per cent and BSE Smallcap rose 0.93 per cent.
The sectoral space was a sea of green as all indices gained on the NSE. Nifty Metal followed by Nifty Pharma were the top gainers, up over 1 per cent each while Nifty Auto gained the least among all indices.
Shares of select companies including Hindustan Aeronautics, rallied upto nearly 9 per cent in intra-day trade on Friday, after being included in the derivatives segment (Futures & Options contracts) on the National Stock Exchange (NSE) with effect from today.
Shares of Sudarshan Chemical Industries edged higher by 18 per cent to Rs 698 on the BSE in intra-day trade on Friday, up 23 per cent in the past three trading days, after Axis Mutual Fund bought nearly 1 per cent stake in the company via the open market. On August 24, 2021, Axis Mutual Fund A/c Axis Smallcap Fund purchased 589,498 equity shares, representing a 0.85 per cent stake of Sudarshan Chemical at a price of Rs 565 per share on the BSE, the exchange data shows.
Shares of Carborundum Universal (CUMI) rallied 5 per cent to hit a new high of Rs 800 on the BSE in intra-day trade on Friday after the company said it has entered into a definitive agreement for acquiring a controlling stake in PLUSS Advanced Technologies Private Limited (PLUSS) at an initial investment of Rs 115 crore.
Shares of Larsen & Toubro (L&T) moved higher by 4 per cent to Rs 1,664.75 on the BSE in intra-day trade on Friday after brokerage firm Motilal Oswal Financial Services increased the target price of the stock to Rs 1,950, largely driven by mark-to-market (MTM) of listed information technology (IT) subsidiaries. The stock of the engineering & construction (E&C) company had hit a record high of Rs 1,676.70 on August 16, 2021.
Shares of Laxmi Organic Industries surged 8 per cent to hit a new high of Rs 414.05 on the BSE in intra-day trade on Friday in an otherwise range-bound market. The stock of the specialty chemicals company was trading at the highest level since its listing on March 25, 2021. In the past three weeks, the market price of Laxmi Organics has soared 52 per cent after the company delivered a robust financial performance for the quarter ended June 2021 (Q1FY22). With the past three weeks’ rally, the stock has zoomed 219 per cent against its issue price of Rs 130 per share.
Shares of Zen Technologies rallied 12 per cent to hit a 52-week high of Rs 107.75 on the BSE in intra-day trade on Friday on the back of heavy volumes. The stock of the defence company has zoomed 30 per cent in the past three trading days. The trading volumes on the counter jumped over seven-fold, with a combined 0.91 per cent of the total equity having changed hands on the NSE and BSE so far.
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