INSUBCONTINENT EXCLUSIVE:
The Indian equity benchmarks snapped their four-day losing streak on Monday powered by gains in index heavyweights Reliance Industries,
Infosys, ICICI Bank, Tata Consultancy Services, Bajaj Finance and State Bank of India
The Sensex rose as much as 783 points and Nifty 50 index touched an intraday high of 17,750.90
Bank of India later in the week lifted investors' sentiment, analysts said.The Sensex surged 534 points to close at 59,299 and Nifty 50
index advanced 159 points to settle at 17,691."If the Nifty is able to sustain the level of 17,550-17,600 it can witness higher levels of
Technical indicator suggests, a volatile movement in the market in a small range between 17,600-18,000," said Ashis Biswas, head of
technical research at CapitalVia Global Research.Buying was visible across the board as all the 15 sector gauges compiled by the National
Stock Exchange ended higher led by the Nifty Metal index's 3 per cent gain
Nifty Realty, PSU Bank, Pharma, Media, Bank, Financial Services, IT and Private Bank indexes also rose between 0.9-2.6 per cent.Mid- and
small-cap shares outperformed their larger peers as Nifty Midcap 100 index rose 1.6 per cent and Nifty Smallcap 100 index climbed 1.54 per
cent.Divi's Labs was the top Nifty gainer, the stock rose 7.84 per cent to close at record high of Rs 5,211 after Merck and Company's
partner Ridgeback Biotherapeutics said on Friday that its experimental antiviral drug molnupiravir could halve the chances of dying or being
hospitalised for those most at risk of contracting severe COVID-19
Divi's Laboratories makes the main ingredient of Merck - Co's drug
Divi's Labs on May 26 informed exchanges that it was authorized manufacturer for Molnupiravir API to Merck's partners in India.NTPC
gained 4 per cent to settle at Rs 145.50 after the company denied report that the company is planning to raise Rs 15,000 crore from IPO of
its three subsidiaries.Hindalco, Bajaj Finserv, Tata Motors, State Bank of India, Bajaj Finance, Tech Mahindra, Tata Consumer Products, SBI
Life and Tata Steel were also among the gainers.On the flipside, Cipla, Grasim Industries, UPL, Indian Oil, Eicher Motors, Bajaj Auto,
Britannia Industries, Hindustan Unilever, HDFC Life and Titan were among the losers.The overall market breadth was positive as 2,331 shares
ended higher while 1,016 closed lower on the BSE.
