The benchmark Sensex concluded above 33,700 level on Monday, the second time after 6 November 2017, near its lifetime closing high. We take a look at four stocks under Rs 20 which gained up to 20% in today’s trade.
The benchmark Sensex concluded above 33,700 level, the second time after 6 November 2017, near its lifetime closing high of 33,731.19 points. As the domestic markets continue to rally, there is a bundle of stocks which have created enormous value this year for investors. Apart from the upsurge in equities, the IPO market has also seen a better-than-expected response from all the investor classes, as Rs 65,000 crore has already been raised through the public offers in this year so far.
With BSE Sensex closing near its all-time high, We take a look at four stocks under Rs 20 which gained up to 20% in today’s trade. Shares of High Ground Enterprise, Nitesh Estates, SPEL Semiconductor and Digjam Ltd hit the spot today. The stock of High Ground Enterprise rose 19.87% to Rs 13.21; Nitesh Estates jumped 18.36% to Rs 13.28; SPEL Semiconductor gained 14.7% to Rs 11.86 while Digjam Ltd advanced 13.96% to Rs 17.96.
Meanwhile, Indian stock market closed slightly higher on Monday after trading down till the afternoon session as investors seemed to get over from the unchanged rating by global rating agency Standard & Poor’s. The value buying in the blue-chip shares of NTPC, Axis Bank, ONGC, SBI, Wipro were the major gainers on the Sensex. BSE Sensex gained 45.2 points or 0.13% to end at 33,724.44 whereas NSE Nifty added 9.85 points or 0.09% to conclude at 10,399.55. The benchmark Sensex shuttled in a range between 33,745.17 and 33540.46 in the intraday trade.
Earlier on Friday last week, close on the heels of Moody’s upgrading India’s sovereign credit rating, another global agency Standard & Poor’s kept its rating unchanged at ‘BBB-‘ while also keeping the outlook ‘stable.’ S&P took a favourable view of Narendra Modi administration’s economic reforms undertaken and lauded India’s fiscal consolidation drive but refrained from upgrading the credit rating from the current ‘BBB-‘, the lowest investment grade. Notably, S&P had last upgraded India’s rating from junk grade “BB+” to lowest investment grade “BBB-” 10 years ago in 2007.