Money on the markets
A maturing market amid the mayhem
Power stocks posted decent gains on Tuesday, sending the power index up 1.15 percent to the top of the sectoral gainers list.
ABB shares topped the index, closing 4.6 percent higher, followed by Siemens which gained 3.7 percent.
JSW Energy, GVK Power and Adani Power were among the stocks on the losing side.
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The BSE Realty Index gained 2.7 percent on Friday and ended as the top sectoral gainer, with stocks such as DLF and Unitech posting smart gains.
DLF, India’s top listed firm, ended 5.2 percent higher at 365.65 rupees, while Unitech gained 3.14 percent. Sobha Developers topped the index with gains of 6.5 percent.
Bank stocks corrected on Thursday and the banking index ended down 1.2 percent, as the overall market slipped on profit booking.
SBI and ICICI Bank closed down 0.2 percent and 2.3 percent respectively. HDFC Bank and mortgage lender Housing Development Finance lost 0.6 percent.
The BSE Realty Index gained 2.5 percent on Monday, with Unitech and DLF posting good gains in a broader market that closed over 400 points up on strong factory data and global cues.
Unitech was the top gainer in the index, rising 3.5 percent to 84.8 rupees, followed by DLF which gained 3.4 percent.
ACC shares clocked a second day of gains on Wednesday, closing 3 percent up to top the list of Sensex gainers.
On Tuesday, cement manufacturers had closed higher on hopes of better dispatches post monsoon and product price hikes in the near term, dealers had said.
The BSE Banking index ended down 0.5 percent on Tuesday, with stocks such as Union Bank, Canara Bank and Oriental Bank of Commerce slipping more than 3 percent.
Bigger players like ICICI slipped 0.9 percent but SBI bucked the trend and gained 0.8 percent in the session.
Realty counters posted decent gains in Friday trade, pushing the realty index up 1.8 percent in a weak Mumbai market that closed 53 points lower.
Sobha Developers topped the index with gains of 4 percent, followed by DLF, India’s top listed realty firm, which closed 3.55 percent up. Unitech shares ended 1.5 percent higher.
IT stocks posted decent gains on Wednesday, pushing the sectoral index up nearly 2 percent as robust profits from U.S. retailing giants boosted confidence in the corporate outlook in the world’s largest economy.
Mphasis topped the BSE IT Index with a 3.8 percent gain, followed by HCL Tech which rose 3.1 percent. Bigger players like TCS and Infosys posted gains of 2.1 percent and 1.92 percent respectively.