Skip to main content

More than 20 stocks in BSE 500 surge 10-35% in a choppy week

Sectorally, the rally was driven by technology, FMCG, Pharma and Energy stocks, whereas Banking & Financials, Power, Realty and Telecom saw selling pressure.

 

Date- 18/7/2020

Source - Moneycontrol

 

It was another week of volatile trade but bulls retained their upper hand on Dalal Street for the fifth consecutive week which ended on July 17 with the BSE Sensex and Nifty50 gaining 1.2 percent each.

Favourable global cues, progress in vaccine and strong earnings from Wipro and Infosys boosted sentiment, but rising virus cases and FII-DII outflow capped gains.

The broader markets underperformed frontliners as the BSE Midcap index gained a percent, but Smallcap lost 0.17 percent during the week.

The main action was seen in BSE 500 stocks as 21 scrips posted double-digit returns, rising 10-35 percent during the week. These included names like Infosys, Wipro, BPCL, Cyient, Hathway Cable, Gujarat Fluorochemicals, Bajaj Consumer Care, Intellect Design Arena, Edelweiss Financial Services, Thyrocare Technologies, Granules India, Birlasoft, Muthoot Finance, Westlife Development etc.


"Markets managed to settle in the green for the fifth successive week, supported by upbeat global cues and a positive start to the earnings season. It was more of the consolidation bias in the index for most of the week however the strong earnings show from IT majors like Infosys and Wipro played a critical role in boosting the market sentiment in the final sessions," Ajit Mishra, VP Research at Religare Broking told Moneycontrol.

"Meanwhile, select index majors from the other sectors helped the index to sustain at the higher levels. Interestingly, markets chose to overlook the rising cases in India and higher inflation numbers and settled around the week's high," he said.

On the other hand, these 13 stocks - Arvind Fashions, Sunteck Realty, Omaxe, Avenue Supermarts, Indiabulls Real Estate, Prestige Estates Projects, Future Consumer, IDBI Bank, Suzlon Energy, Varroc Engineering, Jammu & Kashmir Bank, L&T Finance Holdings and SKF India - were down 11-22 percent this week.

Sector-wise, the rally was driven by technology, FMCG, Pharma and Energy stocks, whereas Banking & Financials, Power, Realty and Telecom saw selling pressure.

For full article - Click Here

Comments

Post a Comment

Popular posts from this blog

Ashoka Buildcon share price up 4% on bagging 2 NHAI projects

The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Ashoka Buildcon share price added over 4 percent in early trade on September 8 after the company emerged as the lowest bidder (L-1) for the two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore. The company had submitted bids to National Highway Authority of India (NHAI) for the project of four laning of Arra h to Pararia section of NH-319(Old NH-30) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I) and Four laning of Pararia to Mohania section of NH-319(Old NH-30) in Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II). At 09:23 hrs Ashoka Buildcon was quoting at Rs 70.60, up Rs 2.40, or 3.52 percent on the BSE. The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Currently, it is trading 44.8 percen...
Post a Comment
Read more

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

  The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...
Post a Comment
Read more

US investors' rights law firm announces probe against HDFC Bank

  The investigation is reportedly resulting from allegations that HDFC Bank may have issued materially misleading business information to the investing public.   American Law firm, Rosen Law, has announced an investigation of potential securities claims on behalf of shareholders of HDFC Bank. The firm is also preparing for a class action suit on behalf of bank’s shareholders. The investigation is reportedly resulting from allegations that HDFC Bank may have issued materially misleading business information to the investing public. Rosen Law, on its website, asked investors to provide their details if they have purchased HDFC Bank Limited securities and would like to receive information about the investigation concerning the class action to recover the investor losses in HDFC Bank Limited securities. “A representative of The Rosen Law Firm will contact you at no cost to you and provide you detailed information concerning the proposed class action to rec...
Post a Comment
Read more