BSE Sensex opened on a positive note today, and at 9:27 am was up 0.21% at 29,983.01. The broader CNX Nifty50 too had a positive opening and was up 0.24% at 9,336.60.
Five stocks pulling the Sensex up:
The share price of HDFC Bank, India’s largest private sector bank, was up 0.29% at Rs 1,546.25. The stock has continued its gains since the announcement of Q4 results for the fiscal year 2016-17. The bank had reported a net profit of Rs 3,990 crore and a net interest income of Rs 9,055 crore in the fourth fiscal quarter of FY17.
The share price of Reliance Industries was up 0.37% at Rs 1,375.95. The stock has been on the rise since the announcement of Q4FY17 results where the company net profit rose 12.3% on-year to Rs 8,046 crore. In the fourth fiscal quarter of FY17, India’s most profitable conglomerate’s turnover rose 45.2% on-year to Rs 92,889 crore.
Larsen & Toubro
The share price of Larsen & Toubro was up 0.62% at Rs 1,740.20. Last month, the company’s construction arm had bagged orders worth Rs 2,694 crores across various business segments.
The share price of ONGC, the state-run oil exploration company, was up 1.28% at Rs 194.60. The stock has gained 7.76% in the past two trading sessions and continued its strong run today as well. Earlier, yesterday crude oil closed at its lowest level this year erasing all the gains after OPEC and non-OPEC nations decided to cut output to support price
The share price of Tata Motors was up 0.61% at Rs 454.40. The stock was under pressure in the last two trading sessions and seems to have recouped some of the losses in early trade today.
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Three stocks dragging the Sensex down:
The share price of ITC was down 0.29% at Rs 277.80. The stock has been on a downward spiral since hitting a new 52 weeks high of Rs 292.85 on 26 April.
The share price of Sun Pharma was down 0.92% at Rs 626.55. The stock had hit a new 52 weeks high of Rs 700.50 on 13 April and has been under pressure since then.
Housing Development Finance Corp
The share price of HDFC was down 0.19% at Rs 1,580. The stock had hit it all time high of Rs 1,589.85 on 26 April but came under pressure in the next two trading sessions. However, the stock did recoup some of its losses in the previous trading session.