Fag-end buying drives Sensex higher after two-day hiatus, up 55 points
Last minute buying helped benchmark indices eke out gains and close in the green one a gap of two days, with Airtel, Nestle India, TCS and ITC contributing the most to gains. Meanwhile, privtae banks, RIL and Infosys were among the top drags.
The BSE Sensex settled the volatile session on the day of weekly F&O expiry at 58,305, up 55 points while Nifty closed 4 points higher at 17,357. In the 50-pack index, 30 stocks closed in the green and 20 in the red.
Buying momentum remained high in midcap and smallcap stocks as the BSE Midcap ended up 0.56 per cent and the BSE smallcap 0.52 per cent. Both indices also hit their respective all-time highs in today’s session.
In sectoral space, Nifty Realty followed by Financial Services, Pharma and Bank were the top losers. On the other hand, Nifty Media, with a gain of 2.97 per cent was the best performing index. Nearly 20 per cent rally in Dish TV helped the media index put up a strong show. Other sectoral gainers were Metal, FMCG, IT and PSU Bank.
Shares of Dish TV India were locked in the 20 per cent upper circuit of Rs 17.95 on the BSE in Thursday’s session amid heavy volumes. In the past three trading days, the stock of the broadcasting and cable TV operator has zoomed 30 per cent after YES Bank sent a notice to the company to remove the top management, including the managing director Jawahar Lal Goel.
Shares of Sona BLW Precision Forgings (Sona Comstar) hit a new high of Rs 570.75 after they rallied 5 per cent on the BSE in the intra-day trade on Thursday on healthy outlook. The stock of the auto parts & equipment company was trading at its highest level since its listing on June 24, 2021.
Shares of consumer electronics company BPL were locked in the upper circuit for the tenth straight trading day, up 5 per cent at Rs 60.75 on the BSE on Thursday. The stock is quoting at its 52-week high level, having rallied 86 per cent in the past two weeks. In comparison, the S&P BSE Sensex was down 0.02 per cent at 58,237 points at 12:10 pm.
Shares of BLS International Services hit a 52-week high of Rs 251.50 as they rallied 6 per cent on the BSE in intra-day trade on Thursday, surging 15 per cent in the past two trading days in an otherwise subdued market. In comparison, the S&P BSE Sensex was up 0.06 per cent at 58,285 points at 10:50 am. In the past two weeks, the stock has zoomed 75 per cent as against a 5.3 per cent rise in the benchmark index.
UCO Bank zooms 16% on heavy volume after RBI lifts PCA curbs. The stock witnessed massive volume of 2.87 million shares in just first 15 minutes of trade, as against the 2-week daily average volume of 0.4 million shares on the BSE.
Shares of SBI Life Insurance Company slipped 4 per cent at Rs 1,171 on the BSE in the intra-day trade on Thursday after the Canada Pension Plan Investment Board (CPPIB) offloaded 2 per cent stake in the life insurance company via open market today.
Here are some picks from the week gone by.
