The BSE Sensex and NSE Nifty remained strong through the day on Tuesday on mixed global markets amid hopes that RBI may go for a rate cut post budget. At 8.27 am, Sensex was trading 806.57 points up at 23,808.57, while Nifty50 was trading 244.45 points up at 7,231.50.
Click here to know how stock markets performed | 5 reasons why Sensex rallied over 700 points today
Top 10 stocks which trended in today’s trade:
Maruti Suzuki: Stocks of the carmaker settled 7.08 per cent up at Rs 3495.50 on value buying even as the company’s domestic sales increased only marginally in February.
IDBI Bank: Shares of the IDBI Bank closed 1.97 per cent up at Rs 59.60 after the government said it may consider bringing down its stake in the lender to below 50 per cent. The government will unveil a roadmap for consolidation of public sector banks (PSBs) which are expected to get an infusion of Rs 25,000 crore next fiscal, Finance Minister Arun Jaitley said on MOnday while presenting Union Budget 2016.
ITC: Stocks of the FMCG firm settled 9.91 pr cent up at Rs 325.10 on lower than-expected tax in budget. Finance Minister Arun Jaitley while presenting the Budget on Feb 29 for 2016-17 proposed to increase the excise duties on various tobacco products other than beedi by about 10-15 per cent.
IOC, BPCL, HPCL: Petrol in Delhi will cost Rs 56.61 per litre as against Rs 59.63. A litre of diesel, however, will cost Rs 46.43 a litre as compared to Rs 44.96 per litre, according to Indian Oil Corp (IOC), the nation’s largest fuel retailer. State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on average oil price and foreign exchange rate in the preceding fortnight. Stocks of IOC, BPCL and HPCL closed 5.02 per cent, 3.21 per cent and 4.88 per cent at Rs 385.70, Rs 794.50 and Rs 721.75, respectively in trade so far.
Axis Bank: Stocks of the bank closed 4.44 per cent up at Rs 391.90 after US-based pension fund manager California Public Employees’ Retirement System (CalPERS) offloaded stake worth Rs 869 crore in Axis Bank through an open market transaction.
Dhunseri Petrochem: Stocks of the company closed 1.10 per cent up at Rs 73.40 after Dhunseri Petrochem Ltd and Indorama Ventures joined hands to manufacture and sell PET resins for Indian domestic markets and for exports in which former will hive off its Haldia Plant to new a joint venture.
Hero MotoCorp and Mahindra & Mahindra: Shares of auto majors Hero MotoCorp and Mahindra & Mahindra gained after the Finance Minister Arun Jaitley on Monday presented the Union Budget with a focus on reviving rural demand. Share price of Hero MotoCorp and Mahindra and Mahindra closed 6.07 per cent and 3.22 per cent up at Rs 2651.50 and Rs 1266.25, respectively.