Its stock price up 17.3%, outperforming the index that is up 10.5%
The rally on Dalal Street has entered a new cycle as former leaders have turned laggards, while stocks and sectors that lagged are outperforming now
FPIs on Friday bought shares worth nearly Rs 770 crore, taking their weekly buying tally close to the Rs 7,000 crore mark
Both indices added nearly 9 per cent each in August, their best monthly showing since November
Its stock price is up 20% since the beginning of August, against 10% rally in Sensex
The Sensex and Nifty ratcheted up to fresh lifetime highs on Wednesday but failed to hold on to the gains as investors took some money off the table amid concerns over frothy valuations. IT, metal and auto counters bore the brunt of the selling pressure, while FMCG stocks saw brisk demand. After touching a lifetime high of 57,918.71 during the session, the 30-share BSE Sensex pared all gains to end 214.18 points or 0.37 per cent lower at 57,338.21, breaking its four-session winning run. Similarly, the broader NSE Nifty snapped its seven-day record-setting spree, settling 55.95 points or 0.33 per cent lower at 17,076.25. It touched an intra-day record of 17,225.75. Auto stocks were subdued after companies posted muted sales numbers for August. M&M was the top loser among the Sensex constituents, shedding 2.89 per cent, followed by Tata Steel, Bajaj Finserv, TCS, HDFC, Infosys and HCL Tech. On the other hand, Asian Paints, Nestle India, Axis Bank, Dr Reddy's, Titan and L&T were .
With equity benchmark indices scaling new closing highs and rupee logging its biggest single-session gain in more than four months, last Friday of this month turned out to be fabulous for markets
The broader markets, meanwhile, outperformed, rising for the fourth straight session
The stock has corrected about 9 per cent from its record level of Rs 644 touched on August 16
After touching its all-time high of 56,198.13 in early trade, the 30-share BSE Sensex ended 14.77 points or 0.03 per cent lower at 55,944.21
Indicates that number of declining stocks far exceeds those advancing, and may be a bearish signal
Snapping its four-session record-setting spree, the the 30-share benchmark closed 162.78 points or 0.29 per cent lower at 55,629.49
The Nifty Metal index skidded 2.5 per cent
The Sensex and Nifty darted up to fresh all-time highs on Thursday as investors lapped up power, IT and banking stocks amid mixed global cues. A strengthening rupee, which surged 19 paise against the US dollar, further lifted sentiments, traders said. The 30-share BSE Sensex climbed 318.05 points or 0.58 per cent to close at its fresh record of 54,843.98. Intra-day, it scaled al all-time high of 54,874.10. Similarly, the broader NSE Nifty advanced 82.15 points or 0.26 per cent to its lifetime peak of 16,325.15. PowerGrid was the top gainer in the Sensex pack, rallying 6.22 per cent, followed by Tech Mahindra, HCL Tech, Titan, L&T, NTPC and ICICI Bank. On the other hand, Dr Reddy's, IndusInd Bank, Axis Bank, M&M, Reliance Industries and SBI were among the laggards, dipping up to 0.67 per cent. Market breadth was positive, with 21 Sensex stocks closing in the green, while 9 suffered losses. "Market breadth continued to be skewed in favour of the bulls amidst mixed global cues ...
The Nifty IT index jumped 3 per cent and ended around record high levels of 32,245.
Margin expansion and international business growth are the other triggers
Renewed optimism around the domestic economic outlook, following an improvement in high-frequency indicators underpinned more than 3 per cent jump this week, so far
Bajaj Finance was the top loser in the Sensex pack, shedding 2.59 per cent, followed by Bajaj Finserv, SBI, Tata Steel, Titan, Asian Paints and Axis Bank
The number of people in financial markets has been growing, especially due to mobile trading, BSE Chairman Ashishkumar Chauhan said on Thursday