Sensex ends choppy day 105 points higher; IT stocks lead; Financials weigh
Benchmark indices climbed on Friday as investors cheered US Fed chair Jerome Powell’s comment that the US may be able to avoid a “deep recession” despite aggressive rate hikes. The S&P BSE Sensex, which had erased all the morning gains during the day, clawed back to end at 59,793, up 105 points or 0.18 per cent.
The Nifty50, on the other hand, settled at 17,833, higher by 35 points or 0.19 per cent. In the broader markets, the Nifty MidCap 100 added 0.35 per cent, while the Nifty SmallCap100 edged 0.06 per cent up.
Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners, while Astral, Godrej Industries, Bajaj Holdings and Investments, All Cargo Logistics, Nazara Technologies, and Stove Kraft were the top broader market gainers.
Sectorally, the Nifty IT index jumped the most, up 2 per cent, while the Nifty Financial Services and Realty indices dipped 0.5 per cent each.
PNC Infratech bags Rs 1,458 crore order from NHAI; stock climbs 6%. The Rs 1,458 crore Uttar Pradesh highway construction project is around 79 kilometers in length and is estimated to be constructed in 24 months.
Harsha Engineers IPO to open on Sep 14; price band set at Rs 314-330/share. Harsha Engineers International, manufacturer of precision bearing cages, on Friday said it has fixed a price band of Rs 314-330 per share for its Rs 755-crore initial public offering.
Rain Industries tumbles 8% after arm closes European unit amid energy woes. After Rain Industries’ arm closed its operating unit in Europe, the company plans to develop other energy-related plans for other European production units.
Hatsun Agro rallies 13% in four days as Sundaram, SBI MF picks up 1.3% stake. As per shareholding data on the BSE, SBI Mutual Fund and promoter Chandramogan held 4.9 per cent and 56 per cent stakes in the company, respectively, as at the end of the April-June quarter.
Reliance Power to issue shares to VFSI Holdings at Rs 15.5; stock sinks 10%. Reliance Power said the private placement of shares will happen at Rs 15.55 apiece, which is 27 per cent lower than the company’s Thursday’s closing price of Rs 21.3 per share.
Here are some picks from the week gone by.
