Nifty above 10,450 mark; HDFC Bank, Sun Pharma stocks lead
Shrugging off weakness in other Asian markets, domestic benchmark share indices started today’s session on a positive note led by gains in index majors Housing Development and Finance Corp and ITC. Among sectors, Nifty Pharma, Nifty Metal, and Nifty Energy were the top performers.
Among specific stocks, shares of Varun Beverages rose 7% as the company has entered into a binding agreement with PepsiCo India to acquire franchisee rights.
Shares of Reliance Communications gained 4% today after a report said that Mukesh Ambani’s Reliance Jio Infocomm leads the race to acquire the company’s assets.
Shares of Repro India extended gains for the third consecutive session and rose 3% after a promoter bought stake in the company.
In broader markets, the BSE Midcap was up 0.43%, while BSE Smallcap gained 0.64%.
Hindalco (+1.84%), Sun Pharma (+1.83%), Zee (+1.4%), Zee (+1.35%), Hero MotoCorp (+1.1%) and Cipla (+1.1%) were the top gainers on the Nifty50.
M&M (-2.9%), Infy (-1.2%), ICICI Bank (-0.85%), Airtel (-0.82%) and HUL (-0.80%) were the top losers in today’s trade.
India VIX dropped 1.18%.
Out of 1,977 stocks traded on the NSE, 1,134 advanced, 424 declined and 419 remained unchanged today.
A total of 79 stocks registered a fresh 52-week high in trade today, while three stocks touched a new 52-week low on the NSE.