Domestic stock indices were trading in the black in Monday’s trade on strong global cues. The NSE barometer Nifty was up 125 points, or 0.6% ,at 18,624. The BSE Sensex advanced over 440 points to 62,948. Nifty Bank hit a fresh record high of 44,483. Broader market indices were also trading in the black
Anand James, Chief Market Strategist at Geojit Financial Services said Nifty has been on the verge of breaching the 18,660 level. But the proximity to the record high level of 18,887 prompted him to be guarded against potential rejection trades, he said. James said he would ride on the upside momentum early on, with downside risk markers placed at 18,430 initially. He sees 18,660 or 18,750 levels as upside hurdles, as the index eyes 18,887 and 19,070 levels
Shares of Greaves Cotton Ltd declined nearly 10% in Monday’s trade after the government asked the company to return the subsidy amount along with interest for violation of rules. The stock fell as much as 9.6% to Rs 134.20 in early trade. It was last trading at Rs 135, down 8% from its previous close
Power Finance Corporation (PFC) share price jumped about 3.5% to Rs 177 on NSE after RITES signed a memorandum of understanding (MoU) with the company to explore avenues of mutual collaboration for consultancy works in sectors such as transport & logistics, energy, water & sanitation, communication, social and commercial infrastructure
Shares of of ICICI Lombard jumped nearly 10% on Monday to hit an intraday of Rs 1,255, as the ICICI Bank's board approved raising its stake in the general insurance company by 4% in multiple transactions. ICICI Bank will acquire at least 2.5% stake out of the 4% before September 9, 2024
Shares of Mahindra and Mahindra (M&M) jumped around 5% in early deals in Monday’s trade on stroing March quarter earnings. The stocks was last trading 3% higher at Rs 1,323 on NSE. M&M reported a standalone net profit of Rs 1,549 crore in Q4FY23, registering a growth of 22.1% YoY
Shares of Balkrishna Industries fell 9% on Monday to hit a low of Rs 2,248 on NSE after the tracker maker reported an year-on-year decline in net profit, revenues and operating profit for the March quarter. At 12:00 PM, the stock was trading 6% lower at Rs 2,305
IndusInd Bank was among the top Sensex gainer in Monday’s trade. The stock gained nearly 2% to hit an intraday high of Rs 1,295 on NSE against its previous close of Rs 1,268. The stock gained 2.5% in the last five sessions
Shares of the Housing Development Finance Corporation Limited (HDFC) were among top Sensex gainers, trading nearly 2% higher on Monday. The stock rose more than 1.75% to hit an intraday high of Rs 2,699.65 1.06% on BSE today
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