The gloomy cloud continues on the benchmark indices on Thursday as Sensex and Nifty abide in negative territory. Despite a choppy trade some stocks are buzzing in the market and have gained up to 5%.
The gloomy cloud continues on the benchmark indices on Thursday as Sensex and Nifty abide in negative territory. Indian markets fell sharply today within minutes of opening to one-month lows. The benchmark Sensex lost over 200 points to the mark a low of 31,588.26 points while the broader Nifty shed 72 points to a low of 9,835.95 points. Sentiments remain subdued amid the ongoing geopolitical tensions between the US and North Korea which escalated worries across the market participants.
Shares of heavyweights such as Tata Motors, ICICI Bank, Reliance Industries, Sun Pharma, HDFC Bank drag the domestic markets down. Shares of Tata Motors were the worst performer lost over 6% to a 52-week low after it reported a 41.54% rise in net profit to Rs 3,199.93 crore for the April-June quarter of the current fiscal, mainly due to one-time gain relating to changes made to JLR pension plans. Despite a choppy trade today, some stocks are buzzing in the market and have gained up to 5%.
Here are 5 stocks which are gaining today:
Shares of the drugmaker jumped 5.61% to the day’s high of Rs 722 after the company yesterday reported an 11.38% decline in consolidated net profit at Rs 518.33 crore for the first quarter ended 30 June 2017. Total expenses during the period remained almost flat at Rs 3,004.03 crore as compared to Rs 3,004.51 crore in the corresponding quarter of last fiscal.
Shares of the IT major rose as much as 5.03% to the day’s high of Rs 413.7 after the President and CTO of company, Atul Kunwar said in a newspaper interview yesterday that, he believes that the emerging changes in technology services sphere would benefit IT companies immensely if they are able to ride on the right changes.
Shares of the biscuit maker gained 4.31% to the all-time high of Rs 4,233.95 as the company plans a partnership to strengthen its dairy business and discontinue a few brands in this segment so as to focus on higher margin products.
Shares of the second largest IT outsourcer rose 1.87% to the day’s high of Rs 987.5 on the prospective buying after the company last week said that, it will acquire Brilliant Basics. Brilliant Basics is a London-based product design and customer experience company, however, the acquisition is expected to close during the July-September quarter of the FY 2018 which is subject to customary closing conditions, Infosys said in a statement.
Shares of Housing Development and Infrastructure advanced 5.77% to the day’s high of Rs 60.5 as recently the stock recovered after the company’s board considers to finalise the loan settlement term with Union Bank this week.
The Sensex resumed lower at 31,621.85 down 175 points and the 50-share barometer also traded lower by 66 points to 9,841.65 at 01:50 pm. Indian markets fell sharply in the opening trade as the market participants stay cautious ahead of the major corporate earnings lined up for today and the ongoing tensions between the United States and North Korea. The sentiments were also negative after the SEBI’ order to restrict trading in 331 suspected shell entities listed on exchanges.