There were about 20 blue-chip stocks which are buzzing in trade today as the key equity indices Sensex and Nifty hovers in negative territory.
Indian stock markets fell into negative territory with Sensex and Nifty hovering in red in the mid-morning session on Thursday after starting marginally higher in the opening trades. There were about 20 blue-chip stocks which are buzzing in trade today including large-cap shares such as Indiabulls Housing Finance, Vedanta, Idea, Axis Bank, Kotak Mahindra Bank, L&T and Titan. In the meantime, shares of all public sector banks came in focus on Thursday after the Finance Minister Arun Jaitley detailed about the Modi government’s mega plan of Rs 2.11 lakh crore to recapitalise the NPA-laden PSU banks. In a major development on Wednesday, Finance Secretary Rajiv Kumar laid down 6-point reforms for the PSBs and said their performance will be under the annual assessment.
Out of the 21 PSBs, IDBI Bank emerged as the biggest beneficiary as the bank was allocated a whopping Rs 10,610 crore followed by Bank of India (Rs 9,232 crore), SBI (Rs 8,800 crore), UCO Bank (Rs 6,507 crore) and Central Bank of India (Rs 5,158 crore) from the government. Following the development, shares of IDBI Bank rose as much as 7.12% to day’s high of Rs 70 on NSE taking a 2-day rise of about 13% as the state-run lender has been allocated the maximum sum on Wednesday. Shares of India’s largest bank State Bank of India shed over 3% to the day’s low of Rs 318.65 after opening slightly up at Rs 332.75 while shares of Punjab National Bank slipped as much as 4.2% to the day’s low of Rs 186.45 after starting up 1.2% at Rs 197.
Here are 20 blue-chip stocks buzzing in trade today
|Stock||Rise (%)||Price (Rs)|
|Kotak Mahindra Bank||0.86||1090.00|
|Indiabulls Housing Finance||0.02||1392.05|
Meanwhile, Indian stock markets hovered in red ahead of F&O expiry and Q3 earnings of Maruti Suzuki after opening marginally higher with Sensex and Nifty starting at fresh highs in the morning trade on Thursday. BSE Sensex was trading 95.61 points or 0.26% at 36,066.03 while Nifty was trading 25.9 points or 0.23% lower at 11,060.1. Shares of blue-chip companies such as Dr Reddy’s Lab, Maruti Suzuki and UPL will be in close watch ahead of their respective Q3 earnings. During the day, Sensex lost as much as 144.16 points to hit a day’s low at 36,017.48.
The Indian rupee strengthened gaining as much as 23 paise against the US dollar in the early morning trades on Thursday. The domestic currency had been appreciating since last two days following the record-run in Indian equities led by IMF economy forecast. The rupee surged 23 paise to 63.46 apiece US dollar at the interbank foreign exchange market on Thursday.