After Market: Axis, ICICI Bank at lifetime highs; 231 shares hit upper circuits
NEW DELHI: Equity benchmarks Sensex and Nifty scaled report final highs on Monday, extending their gains into the second consecutive consultation on robust gains in banking, economic and metallic shares.
The market remained buoyant within the wake of NDA’s big victory inside the trendy election 2019 and fantastic global sentiment.
“Nifty closed at record stage as volatility declined, expectancies grew for near- regular monsoon, and international cues have been fine, read the drop in crude oil expenses,” stated Mustafa Nadeem, CEO, Epic Research.
Investors earn Rs 1.4 lakh cr in an afternoon!
Monday’s rally in stocks shot up the overall marketplace capitalization of BSE-indexed companies to Rs 1,54, eleven,395.90 crores from Rs 1 fifty-two,71,407.47 crores on Friday, making investors richer via Rs 1.4 lakh crore in a day.
L&T stocks bounce 3%
Extending the gains into the fourth successive consultation, stocks of L&T settled 3.17 in line with cent better at Rs 1,592.60 after hitting their fifty two-week excessive at Rs 1,596. The infrastructure participant has raised a stake in IT company Mindtree through approximately two consistent with cent among May 20-24 via picking up stocks worth over Rs 316 crore, in step with regulatory statistics.
Axis, ICICI BankNSE -0.28 % hit existence-time highs.
Shares of Axis BankNSE -0. Sixty-eight % and ICICI Bank hit lifetime highs of Rs 814.70 and 437.90, respectively. Axis Bank stocks finished 2.37 percent better at Rs 812. Forty-five while the ones of ICICI Bank ended at Rs 435.20, up to zero.86 according to cent. In Calendar 2019, Axis Bank has surged 31 in line with cent while ICICI Bank has won 21 according to cent.
231 stocks hit top circuits
As many as 231 stocks, including Shankara Building Products, Camlin Fine Sciences, Birla Cable, Magadh Sugar & Energy, ESAB India, and Sundaram Brake Linings, hit top circuits on BSE. On the alternative hand, Jaiprakash Power Ventures, SE Power, Next Mediaworks, and Prakash Steelage have been 177 stocks that hit lower circuit limits.
BHEL stocks soar on Q4 Nos
Bharat Heavy Electricals (BHEL) posted a forty-nine. 33 according to cent year-on-12 months rise in earnings at Rs 682.70 crore for the zone ended March 2019. Shares of the heavy electric device maker jumped 5.36 in keeping with cent to Rs seventy two.70.
Manpasand Beverages cracks 20%
Shares of Manpasand Beverages fell 20 in line with cent to close at Rs 88 after the enterprise MD and CFO were arrested on allegations of GST fraud.
Page Industries plunges 10%
Shares of Page Industries tanked 10.43 in step with cent to shut at Rs 19,678.50 after hitting their fifty-two-week low at Rs 19,011, dragged by weaker-than-expected March region numbers. Global brokerage Credit Suisse downgraded the stock to underperform from impartial after the Q4 numbers, cutting the target price to Rs 18,seven-hundred from Rs 23,221. The brokerage stated the agency’s growth slumped similarly at some point in the fourth quarter, and the management has no longer seen any pickup in the first zone of FY20.