INSUBCONTINENT EXCLUSIVE:
Tracking recovery in global equities, Indian equity benchmarks rebounded sharply on Tuesday led by the blue chips, even though the Covid
pandemic situation in India remained precarious.
Private bank and pharma stocks were on the forefront of the rally
Banks reported a big jump in advances in Q4, while pharma companies got some relief as the government relaxed the ban on drug exports.
All
stocks from the 30-share Sensex pack gained, as the index jumped 2,476 points, or 8.97 per cent, to close at 30,067
Investors must opt for value buying in select pockets of the Indian market (FMCG, pharma, consumer durables) to build a long-term portfolio
the best single-day gain in terms of points gained
Nifty that jumped nearly 9 per cent to register the best percentage gains since May 2008.
All sectoral indices end in greenAll the sectoral
indices closed the day in the green on NSE, gaining 2-12 per cent
Nifty Private Bank index was the biggest gainer, up 11.07 per cent, as select banks reported a sharp growth in advances and deposits despite
Nifty PSU Bank gained the least at 2.09 per cent.
Godrej Prop shares soar 15%Shares of builder Godrej Properties surged 15.29 per cent to Rs
699 after the company said its Q4FY20 bookings stood at Rs 2,380 crore representing a QoQ growth of 100 per cent and YoY growth of 10 per
It is down 40 per cent from a 52-week high of 86.63
This implies market participants see relatively lower volatile movements going ahead.
Who moved my Sensex?Reliance Industries was the
biggest contributor to Sensex gains, adding 386 points, while HDFC Bank chipped in with 334 points and ICICI Bank 241 points
Among other major contributors were Infosys, HUL, Axis Bank and TCS, adding over 100 points each.
Pharma comes to the foreNifty Pharma index
recorded one of the biggest jumps in history, as the government lifted a ban on export of 24 drugs, including hydroxychloroquine, amid
The scrip closed 13.51 per cent higher at Rs 2,444
The FMCG giant is one of the few blue chip stocks that have gained in the current calendar year.
Tata Power to build NTPC unitShares of Tata
Power jumped 11.42 per cent to Rs 33.65 after its subsidiary won a contract to build an NTPC power unit
crore.
Shilpa Medicare gets MHRA nodShares of Shilpa Medicare surged 5 per cent to hit the upper circuit at Rs 282 after its UK subsidiary
Koanaa Healthcare received UK MHRA approval for cancer drug Imatinib oral solution.
IIB loans grow 13%Shares of IndusInd Bank jumped 22.60
per cent to Rs 384.05 after the bank said its net advances jumped 13 per cent to Rs 2,09,914 crore as of March 31
The private lender said deposits jumped 4 per cent year-on-year to Rs 2,16,713 crore.
Kotak Bank shares gain 5%Shares of Kotak Mahindra Bank
advanced 5 per cent to Rs 1,196.95 after the private sector lender posted a 11.7 per cent rise in deposit base for the March quarter, and
announced a reduction in savings account rates for high value customers.
HDFC Bank advances jumpHDFC Bank climbed nearly 10.18 per cent to
Rs 896.35 after the private lender said its advances aggregated to Rs 9.93 lakh crore as of March 31, marking a 21 per cent growth compared
with Rs 8.19 lakh crore a year ago.
