Market Now: Stocks that surged up to 20% today

Image result for Market Now: Stocks that surged up to 20% today

The overall market sentiments remained positive since the beginning of today’ session.

NEW DELHI: Shares of Gujarat NRE CokeBSE 15.42 % (up 20 per cent), Bombay RayonBSE 5.43 % (up 19.98 per cent), Parsvnath DevelopersBSE 16.94 % (up 19.76 per cent), JP Power (up 19.27 per cent), GVK PowerBSE 1.37 % Infra (up 19 per cent) and Repro IndiaBSE -2.82 % (up 16.33 per cent) zoomed over 15 per cent on NSE as benchmark indices Nifty50 and Sensex touched fresh all-time highs at 9,970 and 32,251.83, respectively, in Monday’s trade.

Other stocks such as Aksh OptifibreBSE -3.10 % (up 14.54 per cent), Gammon Infra (up 13.95 per cent), Royal OrchidBSE -0.51 % (up 13.17 per cent), Alok IndustriesBSE 0.92 % (up 12.50 per cent) and Weizmann Forex (up 12.41 per cent) surged over 12 per cent.

Buying in FMCG, PSU banks, IT and realty stocks lifted key indices, backed by better than expected financial results of some bluechip companies.

Nifty Realty was the leading index with UnitechBSE -0.23 % (up 4.73 per cent) as top gainer.

PSU Bank index stood as the next leading index with shares of Allahabad Bank (up 4.01 per cent) leading the pack.

Pharma stocks saw a big fall on Monday with shares of Divi’s LaboratoriesBSE -0.32 % (down 4.54 per cent) as the top loser after it reported a 41.50 per cent dip in standalone net profit at Rs 176.54 crore for the first quarter ended June 30, impacted by USFDA alert for a unit at its Visakhapatnam facility.

Metal index also slipped with Vedanta (down 1.16 per cent) as the top loser.

The overall market sentiments remained positive since the beginning of today’s session.

The surge has occurred after the International Monetary Fund said India’s GDP growth may come in at 7.2 per cent in 2017, even as the fund believes global growth outlook is skewed to the downside in medium-term.

Benchmark Nifty50 index was 46 points up at 9,961, while the 30-share Sensex was 192 points up at 32,221 around 1.25 pm (IST).

In the Nifty50 pack, 28 stocks were trading in green, while 22 stocks were in red.

On BSE, 1,433 stocks were advancing whereas 1,141 stocks were lagging.

[“Source-economictimes”]