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Private banks, Reliance Industries help Sensex past 38,000 mark

SI Reporter/Mumbai 15 Mar 19 | 02:12 PM

Pictures credit: Kamlesh Pednekar

Banking shares, mainly of private lenders, along with Reliance Industries (RIL), have helped the benchmark S&P BSE Sensex reclaim the crucial 38,000 levels after six months.

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The S&P BSE Sensex hit 38,146 on Friday in intra-day trade, its highest level since September 14, 2018, on back of strong buying by the foreign portfolio investors (FPIs).

With today’s gain, the benchmark index has rallied 7.8 per cent, or 2,752 points, from the 2019 low of 35,353 on February 19. FPIs have pumped in net amount of Rs 30,537 crore during the same period, Sebi data shows.

Reliance Industries, ICICI Bank, Axis Bank, HDFC Bank, Kotak Mahindra Bank, Bajaj Finance, and Asian Paints were up 6 per cent to 20 per cent from their respective September 14, 2018 levels.

Allahabad Bank, Manappuram Finance, Muthoot Finance, Power Finance Corporation, Oriental Bank of Commerce and DCB Bank from the financial and Bata India, Titan Company, TTK Prestige, InterGlobe Aviation, PI Industries, Symphony, Divi’s Laboratories were among 27 stocks from the S&P BSE 500 index surging more than 20 per cent during the same period.

However, more than half, or 347 stocks, from the S&P BSE 500 index are still trading below their September 14 levels.

Reliance Communications (RCom), Reliance Power and Reliance Capital from the Anil Dhirubhai Ambani Group (ADAG) have tanked more than 60 per cent.

RCom hit a new low of Rs 4.37, plunging 73 per cent during the period. The lenders of RCom sold about 4.34 per cent stake of promoters in the telecom firm. With this sale of shares, promoters' stake in the company has come down to 37.57 per cent from earlier 41.91 per cent. The pledged shares belonged to promoters including that of Ambani, his family members and RCom group entities, according to a BSE filing.

Infibeam Avenues, Dewan Housing Finance Corporation (DHFL), Shankara Building Products, Indiabulls Ventures, Graphite India, HEG, Indiabulls Housing Finance, Dish TV India, Deepak Fertilisers and Chemicals and Rain Industries among 21 stocks from the S&P BSE 500 index were slipped more than 40 per cent from their September 14, 2018 levels.

Company14/09/2018LTP % chgGAINERS   Adani Power31.0050.7063.5Interglobe Aviat886.651297.1546.3Tube Investments299.45420.5540.4Allahabad Bank40.6055.5536.8Kalpataru Power330.30446.7535.3Manappuram Fin.88.30119.3035.1Inox Leisure233.50313.8034.4Kajaria Ceramics429.45575.1033.9Muthoot Finance454.95605.2533.0Bata India1040.001379.0032.6Power Fin.Corpn.84.85111.9031.9P I Inds.766.201006.9531.4Oriental Bank76.30100.1031.2Titan Company842.201094.8530.0Divi's Lab.1329.551702.2028.0TTK Prestige6863.808762.8027.7Symphony1042.601318.3526.4BEML Ltd766.35967.9526.3REC Ltd112.40141.8526.2Guj Fluorochem851.101072.4026.0    LOSERS   Infibeam Avenues234.9545.20-80.8Dewan Hsg. Fin.615.10131.20-78.7Rel. Comm.16.354.39-73.1Reliance Infra.451.05123.10-72.7Reliance Power34.7510.71-69.2Shankara Build.1201.95442.00-63.2Indiabulls Vent.744.50285.65-61.6Reliance Capital418.55167.75-59.9Navkar Corporat.105.9544.85-57.7Indiabulls Integ717.30317.90-55.7Graphite India1001.60461.40-53.9SPARC399.90200.00-50.0Central Bank66.9034.10-49.0HEG4073.052198.00-46.0Bombay Dyeing249.90137.10-45.1Dish TV67.6538.65-42.9Indiabulls Hous.1226.80701.65-42.8Deepak Fert.236.65136.90-42.2Rain Industries186.00108.00-41.9Jindal Stain.67.6039.30-41.9    LTP : Last traded price on BSE in Rs at 02:03 PM

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Company Price Gain (%)
IndusInd Bank1,596.855.23
Coal India244.051.56
Yes Bank139.801.53
Hero Motocorp2,739.651.51
Power Grid Corpn184.451.29


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