The recent buoyancy in banking is certainly an encouraging sign but we feel others should also pitch in for a sustainable surge in the benchmark. In the coming sessions, we expect that earnings announcements particularly from Nifty pack (HUL, Tech Mahindra) and F&O expiry will continue to lead stock-specific swings this week. We reiterate our view focusing on stock-selection and trade management amid the prevailing uncertainty.
April 28, 2020 / 04:06 PM IST
Vinod Nair, Head of Research at Geojit Financial Services:
Benchmark indices ended positive tracking global markets, led by financials. Hopes of a fiscal stimulus have given support to the markets. Stock specific news reactions are happening based on the results and management commentary. The sustainability of this rally depends on the easing of lockdown measures and the measures to get businesses back on track.
April 28, 2020 / 04:04 PM IST
S Ranganathan, Head of Research at LKP Securities:
Market today on the back of a ferocious afternoon move by Financials. HDFC & Bajaj Finance led the charge which was well supported by Axis Bank and IndusInd Bank. De-Leveraging exercise from RIL through a planned rights issue also helped markets hold on to its gains.
April 28, 2020 / 03:35 PM IST
Market Close: Indian indices ended on positive note for the second consecutive day on April 28 with Nifty finished near 9,400 level.
At close the Sensex was up 371.44 points or 1.17% at 32114.52, and the Nifty was up 98.60 points or 1.06% at 9380.90. About 1282 shares have advanced, 1047 shares declined, and 185 shares are unchanged.
IndusInd Bank, Bajaj Finance, HDFC, Axis Bank and Bajaj Finserv were among major gainers on the Nifty, while losers were Sun Pharma, IOC, NTPC, Nestle and Vedanta.
Among sectors, pharma, metal, FMCG and energy ended lower, while buying seen in the bank and auto stocks.
Zota Healthcare launches new product: Zota Healthcare launched new product with the name COROWL. This product shall be useful in treatment of Viral lnfection and Viral Fever.
April 28, 2020 / 02:48 PM IST
JK Paper approves buyback: The company approved the buyback of its fully paid-up equity shares having face value of Rs 10 each at a price not exceeding Rs 130 per equity share for an aggregate amount not exceeding Rs 100 crore from the shareholders of the company.