Indian stock market held the morning gains in the early afternoon trade on Thursday as the recovery in the shares of Infosys brought back the optimism among the market participants. All the sectoral indices inched up on the bourses with pharma, realty, and IT stocks rising the most. Since today morning the benchmark Sensex is trading higher and gained over 200 points in the early afternoon trade to 31,809.7 points. We take a look at seven blue-chip stocks which are keeping the 30-share barometer up.
Infosys
Shares of the second-largest information technology firm Infosys today rose as much as 4.5% to the day’s high of Rs 953.5 after Nandan Nilekani took over as the non-executive chairman of Infosys and on Friday exuded confidence that since he’s got consensus-building skills he would be able to bring stability in the company, build strategy and help in finding a new CEO.
HDFC
The stock of India’s largest mortgage lender gained 0.81% to Rs 1,770.9 but was the second-largest contributor which helped Sensex to gain about 26 points. Earlier on Thursday last week, HDFC said it will raise Rs 2,000 crore by issuing debt securities on private placement basis on 28 August 2017. The security — 6.96% HDFC — will be in the nature of secured redeemable non-convertible debentures to be issued on a private placement basis, HDFC said in a regulatory filing.
Other gainers which are heavily contributing to the index gains are L&T (up 1.39%), Sun Pharma (up 2.83%), Hero MotoCorp (up 2.89%), ICICI Bank (up 0.7%), and Kotak Mahindra Bank (up 0.8%). Collectively these stocks added 80 points in the index gains of about 200 points while Infosys and HDFC alone accorded roughly 100 points.
Indian stock markets opened higher on Monday tracking the positive global cues and recovery in the shares of Infosys after Nandan Nilekani the former CEO and co-founder of Infosys – has rejoined as the Non-Executive Chairman of the board, effective immediately from Friday. Meanwhile, Asian stocks were trading mixed in the early trade today after investors sentiments didn’t get a boost from last week’s key meeting of central bankers. BSE Sensex gained 160 points to open at 31,756.81 points and NSE Nifty rose 50 points to open at 9,907.15 points.