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September 24, 2020

Sensex climbed 364 points to close 40000, Nifty up 104 points in early trade

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  • Sensex top 250, Nifty falls below 80 points
  • Yas Bank’s stock jumps 2.5%, IndusInd Bank shares up 2%
  • Sensex 27 out of 30, Nifty 50 out of 50 stocks swift

Mumbai. The stock market has started with a strong pace of the week. Sensex gained 171 points to open at 39,787.33 The 364 points touched the day’s high of 39,979.48 in trade. The Nifty started on 64 points higher at 11,934.90. Intra-day rose by 104 points to reach level of 11,975.05 However, under pressure of profits, both the indices lost most of the lead.

Media index up 1% on NSE

During the turnover, 27 out of 30 Sensex stocks and 44 out of 50 Nifty gain increased. 2.5% in Yes Bank and 2% in IndusInd Bank. On the BSE, shares of Mahindra & Mahindra, ONGC and Kotak Bank declined by 0.5%. All 11 sector indexes of NSE have registered growth. The media index gained the most by 1%.

With strong foreign and domestic signs, the market has risen. There is good growth in IT and banking sector stocks. According to analysts, investors are shopping in hopes of normal monsoon in the country. Sentimental improving in Asian markets by the withdrawal of the US decision to impose import duty on Mexico.

A 2% increase in Larsen & Toubro shares has
given information that it has received orders worth 2,500-5,000 crores. Analysts say this is the reason for the rise in the stock.

In the
regulatory filing of the 7% jump in the shares of DHFL, the company said in Friday that it has paid Rs 276.05 crores to the investors. Earlier, the company missed the payment on time. DHFL’s stock rose 7.2% to Rs 89.30 during the business today.

Reliance Power lost
24.6% to Rs 4.71 on the BSE, after reported a loss of Rs 3,558.51 crore in the March quarter. This is a 52-week low level. Shares of NSE fell 21.13% to Rs 4.85. Reliance Power announced quarterly results on Sunday.

Share of Jammu and Kashmir Bank rolled out 20% Share
of the ACB raid on Saturday on the removal of bank chairman Parvez Ahmed, and corporate headquarters of the bank, came down sharply on Monday on the stock. Shares at BSE dropped 20% to lower circuit limit.

rises 6 paise to 69.40 against dollar 8 pc went up to 69.38 during the business. Friday closed at 69.46.

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