BSE stocks such as Abbott India, Godfrey Phillips India, IDBI Bank, Jindal Steel and Power and PNC Infratech and Power Finance Corporation are among 136 stocks that touched their respective one-year high levels in Monday’s trade.
Indian equity benchmarks rebounded sharply in afternoon deals, led by gains in technology, banks and metal stocks. BSE and NSE barometers jumped today after falling for three straight sessions. As of 12:35 pm today, the 30-share BSE index was up 952 points or 1.59 per cent to trade at 60,853, while the broader NSE Nifty gained 269 points or 1.51 per cent to trade at 18,129.
On BSE, 136 stocks hit their 52-week high-level today, while 35 recorded their one-year lows in afternoon deals. The overall market breadth stood positive as 2,237 were seen advancing while 1,253 were declining.
Reliance Industries, Infosys, Tata Consultancy Services (TCS), HDFC twins (HDFC and HDFC Bank), Bharti Airtel, Axis Bank, L&T, M&M, ICICI Bank, ITC, Kotak Mahindra Bank, ICICI Bank and HCL Tech pulled the BSE index higher today.
249 stocks touched their upper circuit levels today, while 172 hit their respective lower price bands.
Mid- and small-cap shares were last seen trading on a strong note as Nifty Midcap 100 rose 0.70 per cent and small-cap climbed 0.71 per cent.
On NSE, Vodafone Idea, Yes Bank, Suzlon, IDBI Bank, PNB, Indian Overseas Bank, Tata Steel, Zomato, Jaiprakash Power Ventures and GTL Infrastructure were the most active stocks, in terms of volume.
In terms of value, Infosys, ICICI Bank, Reliance, TCS, Bajaj Finance, HDFC twins, Titan and KPIT Technologies were the most active.
14 out of the 15 Nifty sub-indices gained today. Nifty IT, Nifty PSU Bank and Nifty Metal were the best-performing sub-indices today, rising 2.44 per cent, 1.44 per cent and 1.33 per cent, each.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “In India, the major drag has been the sustained FII selling. This is the data to watch. If this too turns, Nifty can break out on the upside.”
Meanwhile, foreign institutional investors or FIIs sold Rs 2,902.46 crore worth of equities on a net basis on Friday, while domestic investors purchased Rs 1,083.17 crore worth of shares, as per provisional NSE data.
The domestic indices were optimistic about the December quarter earnings season, which would kick off with TCS results today. Shares of Tata Consultancy Services (TCS) climbed 3 per cent in Monday’s trade and topped Rs 12 lakh crore in market capitalisation (m-cap), ahead of the IT majorтАЩs December quarter results. The stock rose 3.01 per cent to hit a high of Rs 3,308.95.
On the global front, Asian markets were seen trading higher today. Asian markets gained up to 2.5 per cent. Korea’s Kospi index was up 2.5 per cent; Taiwan’s key index rose 2.2 per cent, Hong Kong’s Hang Seng was up 1.6 per cent while China’s Shanghai Composite added 0.5 per cent. Japan markets were closed for the day.
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