LIC share price fell 10% from IPO price, down for third day in a row since listing; Should you buy, sell, keep?
Recovering from a steep correction in the previous session, benchmark indices rose sharply on Friday on the strength of Asian markets and US equity futures. The BSE Sensex rose more than 1,200 points and was seen testing the 54,000-mark, while the NSE Nifty 50 index rose nearly 400 points and was within a striking distance of 16,200 levels. The broader markets were also strong, with the BSE Midcap and Smallcap index up 1.8% each. On the BSE, the Metal, Auto, Energy, Pharma, Media, Bankex and Realty indices have all gained strength with 2-3% growth each. Prudential Corporate Advisory has made a light list on the stock market. The stock is listed on the BSE at Rs 660 with a 4.8% premium. A total of 57 stocks, including HAL, reached 52-week highs on the BSE, while 23 scrips hit new lows intraday.
Stocks that have reached a 52-week high, below the BSE
Fancy Capital Services, Chennai Petroleum Corporation, D Nora India, ESAB India, Gorani Industries, Hindustan Aeronautics (HAL), Honda India Power Products, ITC, KSB, Mehta Housing Finance, New India Venture, New India Venture. Industry, Virat Industries, Titan Intake, Welspun Corporation were among the stocks that had a 52-week high on the BSE. Meanwhile, shares of Indian International, Indostar Capital Finance, JSW Holdings, Life Insurance Corporation of India (LIC), Novartis India, Supreme Industries, Jelpomk Design and Tech and Vaxon Automobiles were lower in intraday.
Stocks that are at 52-week highs, lower on the NSE
On the National Stock Exchange (NSE), a total of 21 securities reached 52-week highs, where 18 scrips were fresh lows. Adani Power, Chennai Petroleum Corporation, Grower & Well (India), GSS Infotech, HAL, Honda India Power, ITC, Kohinoor Foods, Lancer Container Lines, Nava Bharat Ventures, Welspun Corporation all had 52-week highs. On the other hand, AGS Transact Technologies, Eldeco Housing And Industries, Geojit Financial Services, IndoStar Capital Finance, Munjal Showa, Supreme Industries were among the 52-week low stocks.
Asian stocks, US futures rose inches as market sentiment was helped by China; The Hang Seng Index rose 2%
Share Market Live: Sensex 1000 points above, Nifty near 16150; Dr Reddy’s top gainer, up 4% after Q4 results
Ashok Leyland, HAL, Biocon, HPCL, Fortis Healthcare, Indigo Paints in stock focus
Sensex, Nifty Lover, Horrors
Among the top Sensex gainers were Dr Reddy’s, Nestle India, HUL, L&T, Sun Pharma, Reliance Industries (RIL), IndusInd Bank, SBI, M&M, Kotak Mahindra Bank, HDFC, Asian Paints and Infosys. All 30 Sensex shares were green. In the Nifty pack, Dr Reddy’s, Nestle India, Tata Motors, Cipla, Adani Ports were the top gainers, followed by Shree Cement and UPL.