Markets

Market Now: These stocks defy negative sentiment to surge up to 20%

NEW DELHI: Shares of India Tourism Development Corporation (up 20 per cent) and TGB Banquets and Hotels (up 19 per cent) zoomed up to 20 per cent on NSE during Thursday's trade, defying bearish market stance.

Stocks such as MMTC (up 15 per cent), Future Market Networks (up 15 per cent), Nakoda (up 14 per cent), Walchandnagar Industries (up 13 per cent) and LEEL Electricals (up 10 per cent) jumped up to 15 per cent.

Equity benchmarks were down on selling by domestic institutional investors and foreign funds amid mixed Asian cues.

Selling pressure in bank, telecom, oil & gas, FMCG and metal stocks amid a depreciating rupee weighed on market sentiment.

The NSE Nifty index was trading 21 points down at 10,390, while the BSE Sensex was down 49 points at 33,787 around 11:05 am (IST).

Among the 50 stocks in the Nifty50 index, 18 were in the green, while 32 were in the red.

Mahindra & Mahindra (up 1.19 per cent), Dr. Reddy's Laboratories (up 1.05 per cent), Bajaj Finance (up 1.03 per cent), Wipro (up 1.02 per cent) and Lupin (up 1 per cent) were among the top gainers in the Nifty index.

On the other hand, Indian Oil Corporation (down 2.44 per cent), Hindalco Industries (down 1.41 per cent), ICICI Bank (down 1.18 per cent), YES Bank (down 1.18 per cent) and UltraTech Cement (down 1.02 per cent) were among the top losers in the Nifty pack of stocks.

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