Market Now: These stocks surge up to 15% despite weak market sentiment
NEW DELHI: Shares of Ugar Sugar Works (up 15 per cent) and Reliance Communications (14.02 per cent) surged up to 15 per cent on NSE in morning trade on Friday despite weak broader market sentiment.
Stocks such as Spice Mobility (12.89 per cent), Time Technoplast (11.07 per cent), Orient Refractories (10.10 per cent), Sathavahana Ispat (10.06 per cent), Sujana Universal Industries (10 per cent) and Bil Energy Systems (10 per cent) jumped at least 10 per cent.
Equity benchmarks were trading in the negative territory on unabated foreign fund outflows and surging global crude oil prices.
The rupee depreciating against the US dollar also affected momentum.
The Nifty index was 36 points down at 10,647, while BSE Sensex was 154 points down at 34,995 around 10:05 am.
Among the 50 stocks in the Nifty50 pack, 20 were trading in the green, while 30 were in the red.
Bajaj Auto and Tech Mahindra climbed 2 per cent in the Nifty index, leading the pack of gainers in the index.
Bharti Airtel and Wipro, on the other hand, fell over 2 per cent in the Nifty index.