Benchmark indices ended with moderate gains, supported by gains in metal, IT stocks, following mixed global cues. The BSE Sensex rose 60.19 points to 33,940.44, while the NSE Nifty-50 up 11.95 points. Huge selling in bank shares capped gains in key indices. Shares of PSU oil marketing companies slumped following crude price rise.
HDFC mutual fund has loaded shares of India’s third-largest private sector lender Axis Bank in its portfolio taking the stake to more than 1 percent in Axis Bank the financial year 2017-18 among one of the changes in the share-holding pattern in the last fiscal.
Shares of Axis Bank have managed to return about 5 percent in the Financial year 2018 while the benchmark index Nifty Bank has jumped around 15 percent with HDFC Bank, Kotak Mahindra Bank and Indus
Ind Bank returning 25 to 35 percent.
Index heavyweights gave support with TCS (+2.46%) and Reliance Industries (+1.6%) higher.
Shares of Oil marketing companies were the major losers due to a surge in crude prices and on account of report from the govt asking the companies to bear the trouble and not raise the retail diesel and petrol prices leading to a loss of about Rs 1.00 per litre.
Gainers and Losers: Vedanta Ltd (+4.59%), Tata Consultancy Services Limited (+2.46%), Sun Pharma (+2.31%). On the other hand losers were oil companies such as BPCL (-7.92%), HPCL (-7.88%), IOC (-6.72%).
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