Indices in green; Larsen & Toubro hits all-time high
22/05/2019 14:52
The frontline indices jumped over 158 points in the late afternoon session on Wednesday, led by gains in bank, auto, infra, energy, pharma and metal, ahead of the general election results. On the corporate front, Bharat Forge has signed a share subscription agreement with Aeron Systems Pvt Ltd and will subscribe 97,500 equity shares of Rs 10 each which is equal to 26 per cent stake, in three tranches. Among individual shares, the shares of Larsen & Toubro hit all time-high and rose by 1.7 per cent at Rs 1,473 apiece pipping its previous record-high of Rs 1,470 per share and Cipla Ltd has reported a 105.6 per cent increase in net profit at Rs 367.2 crore for the quarter ended March 2019.

At 14:20 hours, the SENSEX was trading at 39128.6 up by 158.8 points or by 0.41 per cent and then NSE Nifty was at 11779.3 up by 70.2 points or by 0.6 per cent. The BSE Sensex touched intraday high of 39249.08 and intraday low of 38903.87 The NSE Nifty touched intraday high of 11784.8 and intraday low of 11682.4.

The top gainers of the BSE Sensex were IndusInd Bank Ltd. (Rs. 1521.80,+5.13%), Sun Pharmaceutical Industries Ltd. (Rs. 420.85,+2.97%), Tata Motors Ltd. (Rs. 84.95,+2.23%), Bajaj Auto Ltd. (Rs. 3032.55,+1.74%), Hero MotoCorp Ltd. (Rs. 2700.00,+1.62%), among others. On the other hand, the top losers of the BSE Sensex were ITC Ltd. (Rs. 298.35,-2.28%), YES Bank Ltd. (Rs. 138.75,-1.60%), Hindustan Unilever Ltd. (Rs. 1764.05,-1.09%), Tata Consultancy Services Ltd. (Rs. 2086.25,-1.09%), Power Grid Corporation of India Ltd. (Rs. 182.30,-0.92%), among others.

Among sectors, Bankex index was at 34220 up by 314.01 points or by 0.93%. IndusInd Bank Ltd. (Rs. 1521.80,+5.13%), ICICI Bank Ltd. (Rs. 405.10,+1.19%), Federal Bank Ltd. (Rs. 102.45,+1.09%), Kotak Mahindra Bank Ltd. (Rs. 1499.70,+0.84%), Bank of Baroda (Rs. 126.35,+0.80%),. On the flip side, IT index was at 15216.97 down by -82.92 points or by -0.54%. Brightcom Group Ltd. (Rs. 5.45,-4.89%), MIC Electronics Ltd. (Rs. 0.90,-4.26%), TVS Electronics Ltd. (Rs. 184.00,-3.46%), Mahindra & Mahindra Ltd. (Rs. 749.60,-3.08%), Zen Technologies Ltd. (Rs. 71.40,-2.06%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2682 , shares advanced were 1313 while 1194 shares declined and 175 were unchanged.