Stocks

Sensex ends 214 points higher led by energy, banking stocks

BL Internet Desk Mumbai | Updated on August 21, 2020

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Nifty gains 59.40 points to 11,371.60

After a making a promising start, key benchmark indices traded in a narrow band but managed to hold their gains and ended higher on Friday. Strong cues from overnight US markets amid positive trend in other Asian markets have boosted the sentiment.

The BSE Sensex ended 214.33 points, or 0.56 per cent, higher at 38,434.72, while the NSE Nifty was up 59.40 points, or 0.53 per cent, to 11,371.60.

Asian markets finished broadly higher with the Hong Kong index leading the region. The Hang Seng ws up 1.38% while China's Shanghai Composite gained 0.50% and the Japan's Nikkei 225 gaining 0.17%.

NTPC was the top gainer in the Sensex pack, rising nearly 5 per cent, followed by Asian Paint, PowerGrid, HDFC Bank, Nestle, Axis Bank, Sun Pharma, SBI, UltraCemco, Titan, HDFC and Hindustan UniLever.

Among the laggards were ONGC, Bharti Airtel, Tata Steel, HCL Tech, Reliance, and Infosys falling up to 1.30%

Earlier, the BSE Sensex surged over 300 points in the opening trade led by gains in index-heavyweights HDFC Bank, Reliance Industries and Infosys amid strong cues from global markets.

Amongst sectoral indices, BSE Power and BSE Bankex were the notable gainers today. The BSE Power gained 48.02 points, or 2.83%, to 1,743.17 and the BSE Bankex was up 318.04 points, or 1.27%, to 25,278.40.

 

Aarti Drugs surges 10 per cent on bonus proposal

Aarti Drugs climbed 10% reacting positively to the company's proposal to issue 3 for 1 bonus shares.

The stock rose by Rs 283.85, or 10 per cent, to Rs 3,122.75 on the BSE.

The board of Aarti Drugs yesterday approved the issuance of fully paid-up bonus share in the ratio of 3:1 (three bonus shares of ₹10 each for one fully paid- up equity share).

The board has also approved the increase in authorised share capital of the company from ₹25 crore to ₹120 crore by creation of additional 9.5 lakh shares. Shares of Aarti Drugs closed 18 per cent higher at ₹2,838.90 on the BSE.

 

Divi's Lab, SBI Life Insurance rally on NSE rejig plan

Shares of Divi's Laboratories and SBI Life Insurance Company reacted positively today after the National Stock Exchange announced key changes in the Nifty 50 index and proposed to bring in Divi's Laboratories and SBI Life Insurance in the place of Bharti Infratel and Zee Entertainment from September 25.

On the NSE, While the shares of Divi Laboratories rose Rs 70.70, or 2.22%, to Rs 3,260, the SBI Life Insurance stock gained Rs 11.55, or 1.35%, to Rs 864.40

 

 

Published on August 21, 2020

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