Mapping the market: PSU banks extend post-Budget rally, smallcaps outperform
NEW DELHI: The Nifty50 index extended the post-Budget rally to the second session on Thursday and closed 17.85 points, or 0.20 per cent, higher at 8,734. A bout of buying in the second half amid choppy trade pushed the benchmark indices higher. The 30-share BSE Sensex closed 84.97 points up at 28,226.
Here’s a look at the stocks and sectors that made headlines on Thursday:
PSU bank stocks extend gains: Shares of public sector banks extended their Wednesday’s gains on Thursday and advanced up to 3.69 per cent on NSE. The Nifty PSU Bank index closed 1.44 per cent higher at 3,347.
Barring Union Bank (down 1 per cent), other components of the Nifty PSU Bank index closed in the green. Andhra Bank gained 3.69 per cent, followed by Allahabad Bank (up 3.36 per cent), Syndicate Bank (up 2.86 per cent), Bank of India (up 2.85 per cent) and Bank of Baroda (up 2.10 per cent).
FMCG major rallies: ITC extended the post-Budget rally on Thursday on lower-than-expected hike in excise duty on cigarettes in the Budget. The scrip closed 1.48 per cent up at Rs 273.
New orders: Shares of IL&FS Engineering and Construction Company surged over 10 per cent in intraday trade after the company informed the bourses that it had received orders for two rural electrification (RE) works under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) and additional one Intergrated Power Development Works of West Bengal State Electricity Distribution Company (WBSEDCL) worth Rs 515.47 crore. The scrip closed 5.89 per cent higher at Rs 52.10.
Earnings impact: Shares of Dr Lal Pathlabs declined 1.94 per cent after the company reported a 49.27 per cent fall in net profit at Rs 31 crore for December quarter against Rs 61.11 crore in the corresponding quarter last year. Shares of the company settled at Rs 1,082.30 against the previous close of Rs 1,103.70.
Smallcaps outperformed: The BSE Smallcap index outperformed the midcap and largecap indices. The index closed 0.95 per cent higher at 13,278 with Vijaya Bank gaining the most at 19.78 per cent, followed by Andhra Cement (up 16.08 per cent), Poly Medicure (up 12.46 per cent) and ISGEC Heavy Engineering (up 10.28 per cent).
Spurt in OI: Stock futures of Cummin India saw the biggest jump in open interest (OI) at 60 per cent. It was followed by OFSS (up 36.77 per cent) and Godrej Industries (up 34 per cent).
Most active stocks: JP Associates was the most active stock in terms of traded volume on NSE followed by Idea Cellular, JP Power, ITC and Unitech.
Here’s a look at the stocks and sectors that made headlines on Thursday:
PSU bank stocks extend gains: Shares of public sector banks extended their Wednesday’s gains on Thursday and advanced up to 3.69 per cent on NSE. The Nifty PSU Bank index closed 1.44 per cent higher at 3,347.
Barring Union Bank (down 1 per cent), other components of the Nifty PSU Bank index closed in the green. Andhra Bank gained 3.69 per cent, followed by Allahabad Bank (up 3.36 per cent), Syndicate Bank (up 2.86 per cent), Bank of India (up 2.85 per cent) and Bank of Baroda (up 2.10 per cent).
FMCG major rallies: ITC extended the post-Budget rally on Thursday on lower-than-expected hike in excise duty on cigarettes in the Budget. The scrip closed 1.48 per cent up at Rs 273.
New orders: Shares of IL&FS Engineering and Construction Company surged over 10 per cent in intraday trade after the company informed the bourses that it had received orders for two rural electrification (RE) works under Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY) and additional one Intergrated Power Development Works of West Bengal State Electricity Distribution Company (WBSEDCL) worth Rs 515.47 crore. The scrip closed 5.89 per cent higher at Rs 52.10.
Earnings impact: Shares of Dr Lal Pathlabs declined 1.94 per cent after the company reported a 49.27 per cent fall in net profit at Rs 31 crore for December quarter against Rs 61.11 crore in the corresponding quarter last year. Shares of the company settled at Rs 1,082.30 against the previous close of Rs 1,103.70.
Smallcaps outperformed: The BSE Smallcap index outperformed the midcap and largecap indices. The index closed 0.95 per cent higher at 13,278 with Vijaya Bank gaining the most at 19.78 per cent, followed by Andhra Cement (up 16.08 per cent), Poly Medicure (up 12.46 per cent) and ISGEC Heavy Engineering (up 10.28 per cent).
Spurt in OI: Stock futures of Cummin India saw the biggest jump in open interest (OI) at 60 per cent. It was followed by OFSS (up 36.77 per cent) and Godrej Industries (up 34 per cent).
Most active stocks: JP Associates was the most active stock in terms of traded volume on NSE followed by Idea Cellular, JP Power, ITC and Unitech.
