The only Sensex stock that ended in green today, as the other 29 crushed the index down 1,400 points

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Published: February 28, 2020 6:05 PM

After hitting its 52-week-low today, ITC shares jumped to end the day as the only gainer on S&P BSE Sensex.

After hitting its 52-week-low today, ITC shares jumped to end the day as the only gainer on S&P BSE Sensex.

As BSE Sensex and NSE Nifty ended the day in deep distress, wiping out lakhs of crores of rupees in investor wealth, there was a lone star which shone bright in green among the sea of red. While S&P BSE Sensex was down by 1,448 points or 3.64 per cent to trade at 38,297 points, NSE Nifty 50 was below the 11,201 after losing 431 points or 3.74 per cent. As Tech Mahindra slipped by 8.14 per cent and Tata Steel went down 7.57 per cent, making them the biggest losers today, only one of the constituents of S&P BSE Sensex ended the day in the green — ITC Limited.

Although ITC’s share price fell by 3 per cent this week and has witnessed a fall of 14 per cent since the day Finance Minister Nirmala Sitharaman presented her budget, today when the 29 other constituents of S&P BSE Sensex pulled the market down by 1,448 points, only ITC was able to end the day in green, albeit up only marginally by 0.05 per cent at Rs 197.60. Interestingly, ITC share price also hit its 52-week-low of Rs 190.60 earlier today only to jump after that to end the day as the only gainer on BSE Sensex.

In her Budget, the Finance Minister proposed an increase in the National Calamity Contingent Duty (NCCD) on cigarettes and other tobacco products. ITC accounts for the majority of cigarettes sold in the country. Cigarettes contribute Rs 5,310 to the revenue of ITC.

However, there were also some midcap stocks that gained amidst all the gloom on Dalal Street today. Atul Industries led the charge on NSE as it gained 4.4 per cent on Friday to trade at Rs 5,189 jumping from its previous close of Rs 4,970. It was followed by Bayer CorpScience that saw its share price jump during the last hour of trade to Rs 4,462 making up for a 3.2 per cent jump in the entire day. Info Edge share price gained 3 per cent on Friday to trade at Rs 2,644. Info Edge will be included in the Futures & Options segment effective today, as NSE had said a few days ago. Other gainers included, Eris Lifesciences; Shriram City Union and Endurance Tech among the mid cap stocks on NSE.

On the BSE, the leader among midcap stocks was Dewan Housing Finance Corporation Ltd, which gained 5 per cent durings the day’s trade to end the day at a price of Rs 14.50. DHFL, in a recent filing with the market regulator, said that it has no idea why there is a movement in the stock price which has gained more than 20 per cent this week.

Gayatri Projects jumped 4.83 per cent on Friday, followed by IFB industries which saw 3.92 per cent gain. Till today, Gayatri Projects share price has fallen 74 per cent on BSE. Chalet Hotels share price moved up by 3.84 per cent today. The company posted a profit for the quarter ended December 31 and is planning to increase margins in the future. Pfizer, the Mumbai based pharmaceutical firm’s share price went up by almost 2 per cent on Friday.

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