Leaders Online: Strong recovery was seen in the stock market on Thursday (14th). After a flat start, the Sensex closed up 335 points at 73,097. While the Nifty settled at 22,146 with an increase of 148 points. IT stocks supported the market today. (Stock Market Closing Bell)
Today there was buying in all sectors except banking. Telecom, power, oil and gas gained 3 percent each, while auto, capital goods, FMCG, healthcare, metal rose 1-2 percent. Interestingly, after three days of decline, there was a strong recovery in mid and small cap indices today. The BSE Midcap index closed 2.2 percent higher and the Smallcap index 3 percent higher.
IT, PSU and metal sector remained the biggest buyers in the market. While selling was seen in steel shares. Shares of Adani Ports and Adani Enterprises gained 6 percent and 4 percent respectively on the Nifty. Also, the Nifty Smallcap 100 index gained nearly 3.5 percent, while the Microcap index gained around 4 percent.
The Sensex opened at 72,570 today. It then increased to 73,364. Top gainers on Sensex were HCL Tech, Wipro, Infosys, Bharti Airtel, LT, M&M, TCS, Tech Mahindra, Asian Paints. Axis Bank, IndusInd Bank, JSW Steel, Tata Steel shares fell.
On the Nifty 50, Adani Enterprises, Adani Ports, Hero MotoCorp, Hindalco, HCL Tech gained between 3-6 percent. Axis Bank, IndusInd Bank, JSW Steel, Tata Steel shares fell.
YES Bank shares rose
Shares of Yes Bank rose 9 percent to Rs 22.85 on the BSE. (YES Bank Share Price) Yes Bank is reportedly looking for a new promoter. Meanwhile, the shares of Yes Bank have increased. According to a Live Mint report, the bank is looking to sell up to 51 percent of its stake. They have a valuation target of between $8-9 billion. (Stock Market Closing Bell)
Railway shares are also booming
Shares of railway companies rose up to 13 percent today. Shares of Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL), Ircon International, Texmaco Rail, RailTel Corporation of India and Titagarh Railsystem gained up to 13 percent. Railway shares had fallen by 20 percent yesterday on Wednesday. Shares of IRFC rose 13 percent to become the top gainer today. This share went up to Rs. 142 today. After that it settled at Rs.140.
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