About 29 blue-chip stocks rose up to 5% today while the benchmark S&P BSE Sensex traded flat with PSU bank shares witnessing a heavy jolt as the heavyweight shares of PNB, SBI, Bank of India plunged up to 8% on Wednesday.
About 29 blue-chip stocks rose up to 5% today while the benchmark S&P BSE Sensex traded flat with PSU bank shares witnessing a heavy jolt as the heavyweight shares of PNB, SBI, Bank of India plunged up to 8% on Wednesday. The 30-share barometer Sensex traded 43.84 points or 0.13% up at 34,344.31, as at 1:35 pm on Wednesday whereas NSE Nifty was traded at 10,553.6, up by 21.25 points or 0.2%. A vertical decline was observed in the Indian equities in the early morning trades at around 9:30 am, Sensex tumbled 57.41 points to a day’s of 34,243.06. In a major blow today, shares of state-run lender Punjab National Bank plummeted as much as 8% after the bank said that is has detected fraudulent transactions worth $1.77 billion in a Mumbai branch.
Amid the choppy trades in the headline indices, we take a look at 29 blue-chip stocks which rose up to 5% today
Shares of Vakrangee, M&M Financial Services, Ashok Leyland, Indiabulls Housing Finance and Tech Mahindra emerged as the major gainers among the top 100 stocks on BSE. The stock of Vakrangee rose 5%, M&M Financial Services rose 5%, Ashok Leyland jumped 3.7%, Shriram Transport Finance gained 3.6%, Indiabulls Housing Finance gained 3.4%, Bajaj Finance rose 2.8%, Tech Mahindra jumped 2.65%, Wipro advanced 2.6%, Coal India rose 2.5%, Adani Ports gained 2.45%, Reliance Industries advanced 2.4% and Bajaj Holdings gained 2.5%.
Other major gainers were, Nestle India up 2.1%, Bharti Airtel up 2%, Vedanta up 1.7%, Titan up 1.7%, Tata Motors up 1.6%, HDFC Bank up 1.1%, Cipla up 1.05%, IndusInd Bank up 1%, Piramal Enterprises up 2.2%, Apollo Hospitals up 2%, Marico up 1.7%, Divi’s Lab up 1.4%, Siemens up 1.4%, Pidilite Industries up 1.3%, Petronet up 1.2%, LIC Housing Finance up 1.2%, and Bajaj Finserv up 1%.
In the meantime, shares of almost all of the PSU (public sector undertaking) slid into negative territory with the stock of SBI falling over 2% after the Reserve Bank of India provided an all-new new diktat to tackle the NPAs (non-performing assets). Following the huge slide in each of the component, the benchmark Nifty PSU Bank index dropped 3.36% to a day’s low of 3,356.15. The stock of the heavyweight banker State Bank of India dived about 2.5% to the day’s low of Rs 280.5 on NSE. Shares of Punjab National Bank and Bank of India were the top two losers among the Nifty PSU Bank index tumbling up to 7%. The stock of Punjab National Bank lost as much as 7.94% to the day’s low of Rs 148.8; Bank of India fell over 6.5% to the day’s low of Rs 134.2. The stock of Bank of India also tumbled in the morning trades facing the first third-quarter earnings reaction.