Indian share market traded higher in the early-afternoon deals on Thursday with BSE Sensex surging about 250 points following the sharp uptick in the heavyweight stock of HDFC Bank. Interestingly, in today's session, as many as 9 stocks priced below Rs 20 surged up to 20%.
Indian share market traded higher in the early-afternoon deals on Thursday with BSE Sensex surging about250 points following the sharp uptick in the heavyweight stock of HDFC Bank. Shares of ONGC, HDFC Bank, M&M, Coal India, HUL, IndusInd Bank and Infosys emerged as the notable gainers among the components of benchmark Sensex index on Thursday rising more than 1% each with HDFC Bank being the heaviest contributor in the index upsurge. Investors sentiments were upbeat on the positive global cues and the expectation of over 7% growth in the fourth-quarter GDP which is due later in the evening today.
Interestingly, in today’s session, as many as 8 stocks priced below Rs 20 surged up to 20% including the share of Anil Ambani’s telecom firm Reliance Communications (RCom).
Shares of 3P Land Holdings, Punj Lloyd, Reliance Communications and GTL were the biggest gainers among the deck of eight stocks. The stock of 3P Land Holdings rose 18.6% to a day’s high of Rs 14.6; stock of construction and engineering firm Punj Lloyd surged 18.27% to Rs 19.1; stock of GTL rallied 20% to Rs 10.08 from a share price level of Rs 8.4 while ADAG’s Reliance Communications rose 19.14% to Rs 20.85 after the National Company Law Appellate Tribunal allowed Anil Amba ni telecom firm to proceed with the asset sale to Mukesh Ambani-controlled Reliance Jio Infocomm.
Other shares which also gained considerably, are Goldstone Tech (up 10% to Rs 13.83), Ortin Lab (up 10% to Rs 16.5), Oriental Trimex (up 10% at Rs 13.2) and Yogya Enterprises (up 10% to Rs 19.19).