Sunday, February 25, 2024

Sensex bounces back

The Sensex opened with a positive gap of 290 points this morning, after a massive 16% fall last week. Value buying in frontline stocks helped the index extend gains as the day progressed.
The index rallied to a high fo 11,361 on the back of sharp gains in banking, realty and technology stocks. The Sensex finally ended with a gain of 804 points at 11,332.
The BSE Bankex rallied 12.5% to 5,985. The Capital Goods and Consumer Durables indices surged 10.3% each to 8,810 and 2,359, respectively. The Power and Realty indices gained 9% each at 2,023 and 2,750, respectively.
The market breadth was fairly positive – out of 2,672 stocks traded, 1,687 advanced, 926 declined and the rest were unchanged today.
Reliance Communications zoomed 20% to Rs 285. Reliance Infrastructure and ICICI Bank soared around 17% each to Rs 604 and Rs 425, respectively.
Sterlite surged 16% to Rs 318. HDFC Bank rallied 12.5% to Rs 1,178.
SBI advanced over 12% to Rs 1,517. Mahindra & Mahindra, BHEL and Larsen & Toubro moved up around 11.5% each to Rs 520, Rs 1,502 and Rs 990, respectively.
Hindalco and TCS gained around 10.5% each at Rs 89 and Rs 578, respectively.
Wipro, NTPC, Infosys and Satyam were up around 8% each at Rs 285, Rs 179, Rs 1,326 and Rs 270, respectively.
Ranbaxy plunged nearly 6% to Rs 275. ONGC was down 1% at Rs 907.
ICICI Bank topped the value chart wih a turnover of Rs 486 crore followed by Reliance (Rs 242.85 crore), Core Projects (Rs 153.10 crore), Reliance Capital (Rs 151.65 crore) and SBI (Rs 111.90 crore).
Core Projects led the volume chart with trades of around 1.87 crore shares followed by debutant Chemcel Biotech (1.70 crore), ICICI Bank (1.13 crore), Chambal Fertilisers (98 lakh) and IFCI (82.80 lakh).

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