The BSE Sensex and NSE Nifty extended their previous day’s losses and fell over 1 per cent in Wednesday’s trading session on account of weak global cues. After a gap-down opening, markets traded in tight band for most part of the day’s trade on sustained capital outflows by foreign funds and selling by retail investors. Investors remained on sidelines ahead of the derivatives expiry and the Railway Budget on Thursday. Falling crude oil prices and weak global markets also dampened the domestic sentiment. Markets accelerated their downfall in last leg of trade to end near intraday lows.
Sensex closed 321.25 points down at 23,088.93, while the 50-share index Nifty settled 90.85 points down at 7,018.70.
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Below are the top 12 stocks that remained in focus today:
Railway-related stocks: Stocks of the Railway sector-linked companies such as Kalindee Rail, Siemens and Titagarh Wagons were in focus ahead of the rail budget scheduled on Thursday.
Kridhan Infra: Kridhan Infra shares gained as much as 11 per cent intraday on Wednesday after it informed bourses that the company through its subsidiary, KH Foges Pte, has won orders worth over Rs 247 crore in Singapore for EPC works and foundation engineering.
IDBI Bank: IDBI Bank shares gained as much as 3.77 per cent on Wednesday after the bank received Sebi approval to raise capital by issue of equity shares aggregating upto Rs 3,771 crore.
NMDC: NMDC tumbled by more than 14 per cent intraday after the stock went ex-dividend on Wednesday. The stock witnessed heavy selling in the session after the stock went ex-dividend for a dividend of Rs. 9.5 per equity share as approved by the company’s board of directors for the FY2015-16.
Shree Renuka Sugars and Balrampur Chini Mills: Sugar companies Shree Renuka Sugars and Balrampur Chini Mills jumped 5 per cent and 1.65 per cent amid hopes of export parity as global sugar prices soared.
BPCL and HPCL: Oil refining stocks Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) gained 4 per cent and 1.50 per cent as companies jointly negotiate oil purchase deals with OPEC producers for the first time, Indian industry and government officials familiar with the talks told Reuters.
Tata Motors: Stocks of the automaker closed over 3 per cent down as around 300 workers at its plant in Sanand (Ahmedabad) have gone on flash strike to press for reinstatement of around 20 of their colleagues who have been suspended for serious misconduct.
Quick Heal: Quick Heal Technologies has filed a first information report against Manohar Malani, who had complained to Sebi on the company’s shareholding structure, and some of his family members for allegedly forging papers to represent themselves as shareholders. Shares of Quick Heal closed 3.55 per cent down at Rs 212.15.