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

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...
Post a Comment
Read more

Check Chemcon Speciality Chemicals IPO allotment status in four simple steps

Equity shares will get credited into the accounts of eligible investors by September 30 and the listing of equity shares will be on October 1, 2020. Chemcon Speciality Chemicals, the manufacturer for pharmaceutical and oilfields industries, is expected to announce the basis of allotment early next week. As per the schedule provided by the company, the finalisation of the basis of the allotment will be done by September 28 and the initiation of refunds or unblocking of funds from ASBA account will take place on September 29. Equity shares will get credited to the accounts of eligible investors by September 30 and the listing will be on October The IPO comprised a fresh issue of Rs 165 crore and an offer for sale of Rs 153 crore by promoters. The company will utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements, and general corporate purposes. Chemcon manufactures specialised chemicals, such as Hexamethyldisilazane (HMDS) and Chloromethyl Iso...
Post a Comment
Read more

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

  All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...
Post a Comment
Read more