Live: Sensex, Nifty Off Day’s High; Pharma Shares Advance
Market Check: Sensex, Nifty Off Day’s High
Indian equities erased some of its opening gains and traded off day’s high.
The S&P BSE Sensex rose 0.7 percent to 38,418 and the NSE Nifty 50 rose 0.9 percent to 11,234. The broader markets represented by the NSE Nifty 500 Index rose 0.9 percent.
Prestige Estates Projects Jumps The Most In Over A Month
Shares of Prestige Estates Projects extended gains for the second consecutive trading session. The stock rose as much as 9.7 percent, the most since Jan. 20, to 332.
Trading volume was more than three times its 20-day average, Bloomberg data showed. Prestige Estate traded at 24 times its estimated earnings per share for the coming year.
About 83 percent of the analysts tracked by Bloomberg have a ‘Buy’ rating on the stock, while 11 percent have a ‘Hold’ rating and the remaining have a ‘Sell’ call.
Future Consumer Rallies For Second Consecutive Trading Session
Shares of Future Consumer extended gains for the second consecutive trading session.
The stock rose as much as 9.9 percent to Rs 13.90. Prior to March 2, the scrip had declined for 10 consecutive trading sessions.
Future Consumer declined 71 percent in the past 12 months compared to a 5.9 percent gain in the Sensex.
Large Trade Alert: Yes Bank
About 10 lakh shares of Yes Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Sectoral Check: NSE Nifty Pharma Index Best Performer
Six out of 11 sectoral gauges compiled by the NSE traded higher, led by the NSE Nifty Pharma Index’s 2.6 percent gain. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral loser, down 0.4 percent.
F&O Check: Nifty 11,000 Put Option Premium Falls 21%
Nifty’s 11,000 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on March 5, dropped 21.17 percent to Rs 94. About 6.28 lakh shares were added to the open interest which stood at over 21.15 lakh shares.