Thursday, 20 October 2016

Sensex soars 200pts, Nifty strong; ICICI, Adani Ports up over 3%

ICICI Bank rebounded sharply after yesterday's profit booking, up 3.4 percent followed by HDFC, SBI and ICICI Bank with over a percent gains. Adani Ports topped the buying list, up 3.8 percent after losing 6 percent in previous session. 

10:40 am Buzzing: Hindustan Construction Company shares gained more than 5 percent intraday after its subsidiary HCC Concessions commenced commercial operations of its Rs 1,720 crore Farakka Raiganj Highways (FRHL) in West Bengal.

The project forms an integral part of HCC's Rs 4,300 crore development of NH-34 across three contiguous stretches over 256 km between Baharampore and Dalkhola, the company said.

The first leg between Baharampore to Farakka has been operational since May 2014 with a current daily collection of approximately Rs 40 lakh.

HCC said the development of FRHL is supported by a consortium of 9 lenders and the project has a concession period of 30 years.

10:20 am Outlook: The only possible headwinds for the market can come from global cues, says Mihir Vora, Director And Chief Investment Officer at Max Life Insurance. Global factors such as the possibility December Federal Reserve hike could cause volatility in the market. He does not see any local negative triggers.

He expects a 10-15 percent compounded growth from the market over the next two years. He says the market has delivered a little more than the economy till now. It is high time the economy delivers, too.

He is positive on the local macros for the next 3-6 months.

Also read - Buy, sell, hold: 2 stocks that you can focus today 

10:00 am Market Check 

Benchmark indices gained momentum after yesterday's consolidation, with the Nifty reclaiming 8700 level on banking & financials support.

The 30-share BSE Sensex was up 196.03 points or 0.70 percent at 28180.40 and the 50-share NSE Nifty climbed 58.05 points or 0.67 percent to 8717.15.

The broader markets too traded in line with benchmarks on positive breadth. About 1476 shares advanced against 542 declining shares on the Bombay Stock Exchange.

ICICI Bank rebounded sharply after yesterday's profit booking, up 3.4 percent followed by HDFC, SBI and ICICI Bank with over a percent gains. Adani Ports topped the buying list, up 3.8 percent after losing 6 percent in previous session.
www.Bigprofitbuzz.com


4 comments:

Geet Khare said...

Sensex soars 200pts, Nifty strong; ICICI, Adani Ports up over 3% capitalstars

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Geet Khare said...


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