Monday, May 20, 2019

NAMO Sunami in Stock Market


Stock Market created a Sunami on Monday as exit polls predicted NDA Government under Prime Minister Naredra Modi will get another term to serve the country. Analysts believe the Modi's BJP retaining power will ensure a continuation in reform measures initiated during the NDA's first term. Meanwhile, market regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election related events lined up. Benchmark 30-share Sensex ended 1,421.90 points (3.75 per cent) higher at 39,352.67. During the day, the gauge hit a high of 39,412.56 and a low of 38,570.04. In a similar movement, the broader NSE Nifty soared 421.10 points, or 3.69 per cent, to 11,828.25.
A majority of exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that the BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha. The results of the seven-phase polls will be announced on May 23.

- Top gainers in the Sensex pack include SBI, IndusInd Bank, Tata Motors, L&T, Yes Bank, HDFC, M&M, Maruti, ONGC, RIL, ICICI Bank and Axis Bank, rising up to 8.64 per cent.

- On the other hand, Bajaj Auto and Infosys ended in the red.

- The broader BSE midcap and smallcap indices ended in line with benchmarks, rallying up to 3.57 per cent.

Investor wealth soars Rs 5.33 lakh crores

Investor wealth soared by more than Rs 5.33 lakh crore. Market capitalisation of BSE-listed companies jumped by Rs 5,33,463.04 crore Monday. At the end of Monday's trading session, the market capitalisation of BSE-listed companies stood at Rs 1,51,86,312.05 crore against Rs 1,46,58,709.68 crore on Friday. This is the third consecutive session of gain for domestic stocks and in these three trading sessions the market capitalisation of BSE-listed companies has jumped by Rs 7.48 lakh crore.

66 stocks hit 52-week highs on BSE

Tracking significant gains in the markets on Monday, as many as 66 stocks touched their 52-week high levels on the BSE.

- Some of the stocks that touched 52-week highs include Bajaj Finance, DCB Bank, Federal Bank, HDFC Bank, ICICI Bank, SRF, Titan, Kotak Mahindra Bank and PVR.

- Of the total scrips traded, 1,998 advanced, 631 declined and 184 remained unchanged. As many as 66 securities touched 52-week high levels, while 151 fell to their respective one-year low levels that included Biocon, Binani Industries, Jubilant and Monsanto.

- The number of securities that hit the upper circuit limit was 178, while 192 scrips touched their respective lower circuits, according to BSE.

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