Indian equity benchmarks rose sharply to scale their fresh lifetime peaks, led by gains across all sectors. The 30-share BSE Sensex pack surged 304 points or 0.44% to hit an all-time high of 67,771, while the NSE Nifty moved 97 points or 0.47% up to scale a fresh peak of 20,168.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “India has become the best performing large market in September with 4.2% gains. This move to record highs breaching the psychological 20,000 mark on the Nifty has been achieved with an impressive 4.3% rise in Bank Nifty. Since financials account for 32% weightage in the Nifty, strength in financials, particularly the banks, can keep the Nifty resilient. More importantly, the valuations of banking stocks are even now fair. Strength in banking stocks can impart resilience to the market even though the overall market valuations are slowly rising beyond comfort levels.”
Shares of NBCC (India) rose 13% to Rs 63.65 after the state-owned civil construction firm received an order related to consultancy & project management services order from Steel Authority of India Limited (SAIL) for upcoming infrastructural-related projects of Bokaro Steel Limited Plant, township, Mines & Collieries. The value of the order is Rs 180 crore. The market cap of the firm rose to Rs 11,082 crore.
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Shares of JTL Industries gained 5.20% to Rs 211.30 in early deals today. The market cap of the firm rose to Rs 3539.60 crore. A total of 0.10 lakh shares of the firm changed hands amounting to a turnover of Rs 21.45 crore on BSE. JTL Industries shares rallied after SBI General Insurance Company bought 6 lakh shares in the electric resistance welded (ERW) steel pipes firm, via open market transactions on Wednesday. The transaction was done at an average price of Rs 201 per share which amounted to a value of Rs 12.06 crore
Shares of Bombay Dyeing & Manufacturing Company hit their 52-week high of Rs 168.50 after the company's board approved a proposal to sell the land parcel of about 22 acres in Mumbai's Worli to a subsidiary of Japanese conglomerate Sumitomo for Rs 5,200 crore
Shares of RVNL rose 4.77% to Rs 174.60 in early deals today. The market cap of the firm climbed to Rs 35,174 crore. A total of 19.88 lakh shares of RVNL changed hands amounting to a high turnover of Rs 33.95 crore on BSE
Shares of Indian Railway Finance Corporation were among the stocks with top turnover on BSE today. A total of 56.58 lakh shares of the firm changed hands amounting to a high turnover of Rs 45.36 crore on BSE. IRFC stock rose nearly 4% to Rs 81.80 in early deals. The market cap of the firm climbed to Rs 1.03 lakh crore
Shares of SBI were among the stocks with top turnover on BSE today. A total of 4.79 lakh shares of the firm changed hands amounting to a turnover of Rs 28.76 crore on BSE. SBI stock rose to Rs 603.50 in early deals. The market cap of the firm climbed to Rs 5.32 lakh crore
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