Sensex Surges 611 Points, Rebounding From Worst Week In A Month
The SGX Nifty, an early indicator of Nifty 50’s performance in India, rose 1.2 percent to 10,330.
Closing Bell
Indian equity benchmarks rebounded strongly from their worst week in a month led by ITC, HDFC, Bharti Airtel and Reliance Industries amid strong global cues.
The S&P BSE Sensex rose 1.83 percent or 610.80 points to 33,918 and the NSE Nifty 50 index climbed 1.9 percent or 194.55 points to 10,421.
All sector gauges compiled by BSE ended higher led by the S&P BSE Telecom index's 2.57 percent gain.
Mid and small cap shares underperformed their large cap counterparts as the S&P BSE MidCap index rose 0.76 percent and the S&P BSE SmallCap index gained 0.56 percent.
Nifty PSU Bank Index Off Day's Low Led By Indian Bank, Canara Bank
Gauge of the government-owned lenders recovered from intraday losses and turned flat led by gains in Indian Bank, Canara Bank and Syndicate Bank.
Sensex Extends Gains, Rallies Over 500 Points
Fab Four Stocks Of The Day
- Man Infraconstruction: The Mumbai-based infrastructure construction company rose as much as 3.7 percent to Rs 56 after it received orders worth Rs 220.75 crore from Pimpri Chinchwad Municipal Corporation (PCMC) under the Pradhan Mantri Awas Yojna (PMAY).
- United Spirits: The Bangalore-based liquor maker rose as much as 6.2 percent to Rs 3,163 after the GST Council did not consider taxing extra neutral alcohol (ENA) in its meeting on Saturday.
- ITC: The country’s largest cigarette maker rose over 4 percent, the most in over a month, to Rs 269.95 after the GST Council kept cess on cigarettes unchanged at its meeting on Saturday.
- Goa Carbon: The Goa-based chemical maker rose as much as 4.16 percent to Rs 921 after the Goa State Pollution Control Board revoked its earlier order to suspend plant operations.
Bharti Airtel Top Gainer After Board Approves Foreign Currency Bond Sale
Shares of the telecom operator rose as much as 4.86 percent, the most in over a month, to Rs 421.70.
The Sunil Mittal-led company’s board approved the issuance of foreign currency bond of $1 billion or equivalent in one or more tranches, according to its stock exchange notification. The board also approved privately placing up to Rs 10,000 crore of bonds in tranches, the filing added.
Bharti Airtel trades at 102 times its estimated forward earnings per share for the coming year. The stock declined 20 percent so far this year.
