INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Pouncing on the opportunity to buy at cheaper valuations, investors picked up blue chips as well as midcaps with both hands on
Friday, leading to a surprise rally in the domestic benchmark indices.
Stocks like ONGC, Reliance Industries, HUL, TCS and Ultratech Cements
gained 10-19 per cent as investors went shopping on the first sign of recovery
Midcap stocks like Jubilant Food and Mindtree also saw heavy buying.
That helped the benchmark indices log their biggest gains in six months
companies given the situation
market bounceback on Friday was the biggest in six months
Before this, the biggest jump was recorded on September 20 after the government announced a steep corporate tax rate cut
the redBenchmark indices closed in the red for the fifth consecutive week
Sensex fell 4,188 points for the week while Nifty plunged 1,206 points.
Midcaps lead rallyThe Nifty Midcap index registered the second
biggest gain in history, as it jumped 4.79 per cent to 12,641
Among the top gainers on the index were Jubilant Foodworks, Escorts, Manappuram, Mindtree and Apollo Hospitals.
Just four Nifty stocks in
The biggest gainer was Bharti Infratel, which jumped 22.61 per cent to Rs 152
ONGC, GAIL and HUL were among other top gainers.
All sectoral indices in the greenAll sectoral indices on NSE closed with gains
Nifty IT and Nifty FMCG were the biggest gainers, up over 8 per cent each
Nifty Metal index added 7.68 per cent while Nifty Pharam index rose 4.07 per cent.
VIX 9-day gaining streakIndia VIX, also known as fear
gauge of the market, snapped a nine-day winning streak to end with a 7.3 per cent cut at 66.92 level.
Investors richer by Rs 6.32L crTotal
Rs 80 cr hitThe IRCTC management said the company might take a Rs 80 crore hit in earnings due to cancellation of trains amid the
Shares of the firm closed down 4.91 per cent at Rs 951.
YES Bank tanks 15%Shares of YES Bank fell 14.84 per cent to Rs 45.90 as demand for
the stock fell after traders covered their short positions
The stock saw selling by the largest promoter on Wednesday
The Reserve Bank of India (RBI) has given Yes Bank credit support of Rs 60,000 crore to ensure that it is able to meet its obligations to
Corporation will acquire 10 per cent equity stake in it
Malaria drug makers surgeMakers of a malaria drug hydroxychloroquine saw heavy buying as doctors found it effective against Covid-19
Cadila Healthcare jumped 16.19 per cent to Rs 285, Ipca Lab 8.87 per cent to Rs 1,372 and Torrent Pharma gained 4.5 per cent to Rs 1,846
BSE Healthcare index, comprising these stocks, jumped 5.75 per cent
HDFC Bank target price cutShares of HDFC Bank slipped 1.39 per cent to
Rs 882.40 after brokerage Sanford C
promoter pushShares of Reliance Industries climbed 11.24 per cent to Rs 1,020 after Mukesh Ambani, his wife and three children marginally
raised their personal shareholdings in the oil-to-telecom major.
J-K Bank shares tripShares of Jammu - Kashmir Bank fell 1.78 per cent to Rs
13.80 after the market regulator Sebi exempted J-K government from making an open offer to shareholders of the bank amid a proposed equity
infusion that would hike its stake in the lender by 8.95 per cent.
IDFC First CEO sells sharesShares of IDFC First Bank dipped 0.24 per cent
to Rs 20.60 after the lender informed bourses that V Vaidyanathan, Managing Director and Chief Executive Officer, sold over 2.75 crore
shares on Thursday for Rs 58 crore to close an ESOP loan that he had availed.