Connect with us

Hi, what are you looking for?


After Market: Manpasand falls 10%, Tata Tele surges 20%; 61 stocks ready to rise

NEW DELHI: After a day's breather, Indian equity benchm..

NEW DELHI: After a day's breather, Indian equity benchmarks Sensex and Nifty returned to the winning ways to end at record closing highs on Thursday. Investors have remained bullish after the return of Narendra Modi-led NDA at the Centre.

The market remained in the positive territory throughout the session on the last day of May series of futures and options contracts. Buying prevailed in most sectors and only auto, metal, realty and consumer discretionary goods and services closed in the red.

Next week's RBI monetary policy meet is on investors radar now. Besides, key macro numbers, including fourth-quarter GDP data, infrastructure output data and fiscal deficit data for the month of April, are expected to be released tomorrow, which will influence sentiment.

"All eyes are on the Monetary policy next week and the implementation of strong reforms by the newly elected government. The Street is pricing in the Modi governments efforts to improve the economy and hence the market is soaring. However, this frenzy will be shortlived as the indices are trading at high multiples and any adverse news on the local or global front can lead to severe correction," said Umesh Mehta, Head of Research, Samco Securities.

We walk you through the highlights of Thursday's session:

What boosted my Sensex
In terms of index contribution, HDFC held the driving seat among stocks that led Sensex to the record closing high. It was followed by Reliance Industries, HDFC Bank, TCS, ICICI Bank and Infosys.

On the other hand, in terms of percentage gains, NTPC (up 3.44 per cent) stood at the top. It was followed by Bharti Airtel (2.33 per cent), Bajaj Finance (2.07 per cent), TCS (1.91 per cent), YES Bank (1.88 per cent) and HDFC (1.81 per cent), in that order. As many as 20 stocks logged gains in the Sensex kitty, while 11 suffered losses.

Investors richer by Rs 80,000 crore
Thursday's rally shot up the overall market capitalisation of BSE-listed firms to Rs 1,54,43,363.95 crore from Rs 1,53,62,936.40 crore on Wednesday, making investors richer by Rs 80,428 crore in a day.

Manpasand Beverages extends losses
Shares of Manpasand Beverages closed with a cut of 9.94 per cent at Rs 57.10 after hitting an all-time low of Rs 57.10. Shares of the company have been falling for the last four sessions after it said MD and CFO were taken under judicial custody following a search by the Commissioner of Central GST and Customs. In the last four sessions, the stock has come off 48 per cent.

Adani Power jumps 6% on Q4 results
Shares of Adani Power settled with a gain of 6.40 per cent at Rs 51.50, buoyed by better-than-expected March quarter numbers. The company reported a consolidated profit of Rs 634.64 crore. It had posted a loss of Rs 653.25 crore in the corresponding period last year.

Godfrey Phillips falls 4%
Shares of cigarette maker Godfrey Phillips India tanked 4.25 per cent to Rs 950.20 after the company reported 17.97 per cent decline in profit to Rs 35.36 crore due to impairment charges.

Ramco Systems jumps 6%
Read More – Source


ET Markets