Sensex up 200 points; financials, metals lead gainers
Markets started the July F&O series with impressive gains on Friday as hefty buying in metals, financials, and pharma sectors lifted indices for the second day. The Nifty PSU Bank index closed 2.7 per cent higher on the National Stock Exchange (NSE) amid renewed privatisation buzz and fund-raising by banks.
That apart, the Nifty Metal index zoomed 2.5 per cent after Russian government said it is preparing new export taxes from August 1 for steel products, nickel, aluminium and copper which will cost their producers $2.3 billion.
The Nifty Bank, Private Bank, Pharma, and auto indices, meanwhile, rose between 0.7 per cent and 1.6 per cent.
Overall, the frontline S&P BSE Sensex index added 226 points, or 0.43 per cent, to settle the session at 52,925 levels while the Nifty50 index shut shop at 15,863-mark, up 73 points or 0.46 per cent.
In the broader market, the BSE MidCap and SmallCap indices advanced 1 per cent and 0.4 per cent, respectively.
Tata Steel (up nearly 4 per cent), Axis Bank, State Bank of India, ICICI Bank, Hindalco, JSW Steel, Maruti Suzuki, and Coal India made it to the list of outperforming stocks in the large-cap segment while Vodafone Idea, Apollo Hospitals, SAIL, Ashok Leyland, Allcargo Logistics, Uttam Sugar Mills, and Ajmera Realty marched aheead in the broader market space.
Shares of Apollo Hospitals Enterprises hit a fresh record high of Rs 3,464.95, surging 8 per cent on the BSE in intra-day trade on Friday, on the back of heavy volumes. The stock of the healthcare facilities company surpassed its previous high of Rs 3,432.90 touched on June 3, 2021. At 01:51 pm, Apollo Hospitals was up 7 per cent at Rs 3,426, as compared to a 0.43 per cent gain in the S&P BSE Sensex. Trading volumes on the counter jumped over three-fold with a combined 3.04 million shares having changed hands on the NSE and BSE till the time of writing of this report.
Shares of Inox Wind Energy were locked in upper circuit for the eighth straight day, up 10 per cent at Rs 306.80 on the BSE on Friday. Since listing on June 11, 2021, the stock has rallied 62 per cent from its opening price level of Rs 188.95 on the BSE. The counter has seen huge trading activities, ahead of its January-March quarter (Q4FY21) results today. Around 550,000 shares were changing hands and there were pending buy orders for 309,000 shares on the NSE and BSE.
Shares of Ashok Leyland zoomed 9 per cent to Rs 129.35 on the BSE in intra-day trade on Friday as the company’s market share improved 0.8 per cent to 28.9 per cent in the March 2021 quarter (Q4FY21) from 28.1 per cent in December 2020 quarter (Q3FY21). The stock of the commercial vehicles’ company was trading close to its 52-week high of Rs 138.85, touched on February 4, 2021.
Shares of Reliance Industries fell as much as 3.4 per cent to Rs 2,081 on the BSE in intra-day trade on Friday, thus falling 6 per cent in the past two trading days. The company’s Chairman and Managing Director Mukesh Ambani, on Thursday, had announced a Rs 75,000 crore investment in setting up four ‘Giga’ factories to make solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years. The stock was trading lower for the fourth straight day, falling 7 per cent during the same period.
Shares of Deepak Spinners rallied 18 per cent and hit a new high of Rs 199 on the BSE in intra-day trade on Friday after investor Dolly Khanna bought 1 per cent stake in the textiles company via open market. On Thursday, June 24, 2021, Dolly Khanna purchased 76,555 shares, representing 1.06 per cent stake, in Deepak Spinners worth of Rs 1.28 crore via open market. Dolly Khanna acquired shares at price of Rs 167.21 per cent through bulk deal on the BSE, the exchange data shows.
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