Sectoral Watch – Most Discussed Industrial Machinery Stocks
Source: https://stockarchitect.com/sector/Industrial-Machinery
Sensex rallies 281 points, Nifty ends at 11,076; BPCL gains 6%
Benchmark indices surged in the last hour of Friday’s trading session after trading in a range-bound manner for a major part of the day.
The S&P BSE Sensex added 239 points or 0.8 per cent to 37,380 levels. Hero MotoCorp, ICICI Bank, Kotak Mahindra Bank, Maruti Suzuki India, and HCL Tech were the top gainers in the Sensex pack. The broader Nifty50 hovered around 11,080 levels, up 100 points, or 0.9 per cent.
The Nifty sectoral indices, except three, were trading in the green. While Nifty Realty index rose the highest 1.6 per cent, Nifty Auto index also gained 0.9 per cent. On the other hand, Nifty Pharma index was the top loser, down 0.9 per cent.
In the broader market, the S&P BSE MidCap index was trading flat at 13,610 levels. Meanwhile, the S&P BSE SmallCap index surged 64 points, or 0.5 per cent, to 12,970 levels.
Shares of banks and non-banking financial companies (NBFCs) dropped up to 5 per cent in the morning deals on Friday, a day after Altico Capital India, a lender to real estate companies, said it has defaulted on interest payments to Mashreq Bank of Dubai. An interest payment of Rs 19.97 crore was due on September 12, according to a regulatory filing with the BSE. This payment is now in default. The principal amount for the external commercial borrowing on which Altico Capital has defaulted stands at Rs 340 crore, the filing said.
Sensex ends 270 points lower, Nifty below 9,850 as Infosys cracks 9%
The Sensex settled at 31,524, down 270 points, while the broader Nifty50 quoted 9,837, down 66 points at close. The BSE Midcap index settled 0.1% lower, while BSE Smallcap index shed 0.5%.
The benchmark indices snapped a three-session long winning streak, as Infosys cracked after Vishal Sikka’s resignation as MD & CEO, although rivals such as Tata Consultancy Services gained.
According to a BSE filing, Sikka will be Executive Vice-Chairman while UB Pravin Rao is the Interim-MD and CEO.
Infosys saw its sharpest decline since April 12, 2013, down 9.6% to Rs 923. In intraday trade, the stock fell as much as 13% to Rs 884.
But the domestic markets still logged their sixth weekly gain in seven, though they remained below the record highs hit on August 2.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1,534 shares declined and 1,002 shares rose. A total of 122 shares remained unchanged.