Friday, December 27, 2024

Mapping the market: 1,600 points in 3 days; look who is having all the fun

Thursday, March 3, 2016, 11:33
This news item was posted in Business category and has 0 Comments so far.

NEW DELHI: Excuse me, please stand in queue! murmured a gentleman in black suit, a briefcase in hand. Did you see those dollars? one screamed from the humming crowd. As dust settles on Dalal Street after a nerve-wrecking runup to the Union Budget of 2016, foreign institutional investors are back with a bang. Their comeback has been felt strongly in the Sensex, which has rallied over 1,600 points in just three sessions to rule above its 50-DMA. Sentiment, not global cues, has been driving the market. Thursday’s 364-point rally in the 30-pack equity index was led by capital goods, pharma and IT stocks, as leadership is changing every day. Here is a recap of all the action from Dalal Street through the day. Tata, Adag stocks rally: Most Tata group stocks, such as Tata Sponge Iron (up 17.17 per cent), Tata Motors (up 6.10 per cent), Tata Communications (up 4.35 per cent), TCS (up 2.49 per cent) and Tata Power (up 1.19 per cement) ended higher for the day. Adag stocks followed suit. Reliance Infra (up 4.79 per cent), Reliance Capital (up 5.4 per cent), Reliance Power (up 1.84 per cent) and Reliance Communications (up 0.55 per cent) also notched up significant gains for the day. Live update I’m higher than a kite; but who am I? Alcohol stocks are on a roll these days. Global Spirits (up20 per cent), Empee Distilleries, Radico Khaitan (9.24 per cent), Associated Alcohol (up 5 per cent) and Tilak Nagar Industries (2.06 per cent) climbed during the day. Deja vu! Are they same investors who were dumping United Spirits shares on Wednesday? May be. USL fell 1.11 per cent to Rs 2,480.55. UBL ended flat at Rs 807.85 on BSE. Live update Auto stocks react to fav Feb: Most auto stocks gained after reporting decent sales figures for February. Tata Motors gained 6.10 per cent after February sales grew 5.5 per cent on a year-on-year basis. Bajaj Auto and Hero MotoCorp advanced 2.04 per cent and 1.36 per cent, respectively, after reporting low double-digit sales growth. M&M rose 1.36 per cent after domestic sales grew 15.7 per cent in February. Maruti Suzuki ended flat on 0.9 per cent fall in sales. Live update Future Retail leads rally: Future Retail DVR shot up 16.32 per cent to Rs 122.95, while Future Retail jumped 7.12 per cent to close at Rs 136.90 amid reports Kishore Biyani has tied up with Trent Hypermarket, a JV between Trent and Tesco to supply his own brands in food and non-foods category. Aditya Birla Fashion, V2 retail and Trend soared between 9.37 per cent and 4.50 per cent. Live update INOX Wind makes electrifying gains: Inox Wind surged 19.17 per cent to settle at Rs 284.70. The company said it has received an order from PTC Energy to construct a 20 mw wind project in Nipaniya, Mandsaur in the state of Madhya Pradesh. The scrip has gained over 31 per cent from its 52-week low of Rs 217 hit last week. Live update

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