Market Fatafat with ET Now: Sensex up over 100 points. Check stocks buzzing in trade today
Among Nifty50 stocks, BPCL was the top gainer, up 2.74% followed by Wipro and Hindalco
New Delhi: Indian shares extended gains on Wednesday, with renewed interest in midcap stocks, as tensions with Pakistan appeared to be easing further, boding well for the markets weeks ahead of parliament elections. As of 2 pm, the Sensex was up 123 points at 36,566 while the Nifty50 index traded 0.36% higher at 11,027.
“Political uncertainty was the major theme why the market corrected. People feel that we will have a single party rule again, or a combination of people will return to power, giving confidence to the market,” AK Prabhakar, head of research, IDBI Capital told Reuters, adding that mid-caps had begun to perform well again.
Among Nifty50 stocks, BPCL was the top gainer, up 2.74% followed by Wipro and Hindalco, which rose around 2.5% each. RIL, ICICI Bank and ITC were the other major gainers on the index.
DHFL: According to ET Now, the company is keen to sell its retail lending book and has approached lenders for the same. The company seems to have approached ICICI Bank, Hero Fin Corp, Ashok Leyland Finance etc.
NCC: The stock has given a strong breakout from its multi-week resistance. Kunal Bothra recommends ‘buy’ on the stock for a target price of Rs 110 with stop loss at Rs 94.
Yes Bank: The stock has seen a decent pullback over the last two-three weeks. Domestic brokerage Sharekhan expects in the short term there could be some profit booking in the stock. It recommends a ‘sell’ on the stock for a target of Rs 200 with stop loss at Rs 200.
Endurance Tech: Founder of the company Anurag Jain is selling up to 5% of his stake in the company via an offer for sale, which starts from today. The company has set the floor price at Rs 1,100.
ICICI Prudential Life Insurance: The stock is gaining momentum gradually. Cash volumes are at one-month high. In the future segment also long built-up was visible in the counter.