Money on the markets
A maturing market amid the mayhem
The BSE healthcare index bucked the trend and closed marginally higher on Monday, even as the Sensex dropped over 100 points.
Stocks like Dr Reddy’s, Sun Pharma, Cipla and Divi’s Labs gained over 1 percent each.
Thirteen of the 25 stocks in the index closed in the green. Opto Circuits was the top index loser, closing down 1.1 percent.
The healthcare index has dropped over 7 percent since mid-January. The index has posted a marginally positive return this month as compared with the Sensex’s fall of nearly 2 percent in the same period.
Export-focused software stocks did well on Tuesday, helping boost the BSE IT Index 2.5 percent to its second straight day of gains.
The broader market ended 0.6 percent up with financials being among the losers.
Sensex heavyweights Infosys, Tata Consultancy Services and Wipro rose 2.9 percent, 1.4 percent and 2.4 percent respectively.
Jubilant Foodworks, which runs the Dominos Pizza outlets in India, made a strong trading debut on Monday, closing more than 50 percent above the issue price of 145 rupees.
Shares in the Indian fast food chain touched a high of 241.95 rupees during trade before closing at 229 rupees.
The BSE Oil & Gas Index dropped 3.4 percent on Friday in a broader market that fell 2.7 percent to its lowest close in three months.
Reliance Industries led the Oil & Gas Index fall with a 3.7 percent drop.
According to CNBC TV18’s business channel, the energy major has submitted a $2 billion expression of interest for private Canadian firm Value Creation Inc, which holds oil sands assets. Reliance fell to 981.30 rupees, its lowest close in three months.
The BSE Realty Index slumped 3.8 percent on Thursday in a broader market that was weighed down by weak global cues.
The Realty Index was the top sectoral loser on the BSE, with all components except Mahindra Lifespace, ending in the red. Sobha Developers dropped 5.6 percent.
The BSE metal index rallied over 4 percent on Wednesday, with JSW Steel topping the index with gains of over 8 percent. The BSE Sensex jumped over 300 points to 16,496.
Sterlite Industries gained nearly 6 percent and Hindalco ended up 3.3 percent, buoyed by a rise in base metal prices. Tata Steel shares gained 4. 9 percent.
Realty stocks fared poorly on Tuesday with the sectoral index slipping nearly 2.5 percent in an overall market that dropped nearly 200 points.
Anant Raj Industries ended as the top sectoral loser with losses of over 5 percent. Unitech followed closely with a drop of 4.3 percent. Shares in DLF, India’s top listed realty firm shed 2 percent.
Shares in Titan Industries rose to a lifetime high on Monday. The company announced its quarterly results on January 30 with a net profit of 754.3 million rupees, up nearly 500 percent from a year ago.
Its shares ended 13.6 percent higher at 1,703 rupees with volumes of 0.14 million shares. BSE Consumer Durable Index ended 5.7 percent higher.