Live
- Did Rashmika Mandanna Double Her Paycheque?
- BJP needs only 399 more seats to reach 400 mark says Gujarat CM M Bhupendrabhai Patel
- Google Meet's New 'Switch Here' Feature Facilitates Seamless Call Transfers
- Hyderabad: Time has come to uproot corrupt and dynastic parties says Pushkar Singh Dhami
- Hyderabad: Talasani campaigns for Padma Rao Goud
- WhatsApp Update: Green-Themed Interface Rolled Out for iOS Users
- Apple Event Preview: iPad Air 2024 Launch on May 7- What to Expect
- KTR-Harish duo hits out at BJP, CM
- Narendra Modi to visit AP on May 3,4.
- KCR to Kick Off Election Campaign under Palamuru Porubata in Mahbubnagar
Markets continue winning run for third day
Continuing the winning run for the third straight day, Sensex rose nearly 107 points to finish at an over two-month high of 27,247.16 and Nifty breached the key 8,400-mark, fuelled by power, IT and banking stocks rally, but the gains were restricted by battered pharma counters.
Mumbai : Continuing the winning run for the third straight day, Sensex rose nearly 107 points to finish at an over two-month high of 27,247.16 and Nifty breached the key 8,400-mark, fuelled by power, IT and banking stocks rally, but the gains were restricted by battered pharma counters.
Shares of power, IT, teck, utilities and capital goods firmed up on good buying enquiries, while those of pharma, FMCG, auto and realty declined on selling pressure.
Among the laggards, pharma stocks were worst hit following US President-elect Donald Trump’s strong remarks on pricing of medicines, indicating tougher working environment for Indian drug firms going ahead in the US. Lupin was battered the most by falling 2.03 per cent.
Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services Limited, said, “Markets opened the day on a firm note but could not sustain gains, as Trump’s comments during yesterday’s press conference held pharma stocks back. With key macros as well as Q3 numbers expected to be announced shortly, markets were not in a mood to chase prices higher anyway.”
The Sensex opened higher at 27,171.66 and hovered in the range of 27,166.69 to 27,278.93 before ending at a two-month high of 27,247.16, showing a gain of 106.75 points, or 0.39 per cent. The 30-scrip bundle has gained 520.61 points, or 1.95 per cent, in three days. The Sensex had last seen this level on November 10, 2016, when it ended at 27,517.68.
The NSE 50-share Nifty also rose by 26.55 points, or 0.32 per cent, to close at a two-month high of 8,407.20. It had also ended at 8,525.75 on November 10 last year. Domestic institutional investors (DIIs) bought shares worth a net Rs 1,116.15 crore yesterday while foreign funds sold shares worth a net Rs 627.30 crore yesterday, as per provisional data released by the stock exchanges. Of the 30-share Sensex pack, 13 scrips ended higher while 17 closed lower.
Major gainer was NTPC as it advanced by 5.69 per cent after the company signed a non-binding pact with Rajasthan Rajya Vidyut Utpadan and Rajasthan Urja Vikas Nigam for take-over of Chhabra thermal power plant stage-I (4x 250 MW) and stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam. It was followed by Power Grid 4.14 per cent, Infosys 3.20 per cent, L&T 2.57 per cent, Wipro 1.52 per cent, Cipla 1.44 per cent, ICICI Bank 1.30 per cent and TCS 0.87 per cent.
