Mumbai : The Sensex gained tuesday mainly due to the Financials and Vedanta. Markets however continued to remain volatile. Private lender HDFC Bank moved forward 1.87 per cent to Rs 1247.05 while HDFC rose 1.58 per cent to Rs 2048.10.
On the other hand Britannia declined for the second day in succession as market analysts estimated a cut in their earnings. Vedanta however surged ahead after announcement of dividend from Hindustan Zinc came.
Experts feel that the markets would continue to remain volatile at least for some time as the American Presidential elections are approaching near. However, Market confidence continued to remain in view of ongoing Q2 results. As of now, the results are good, however, any downfall in future would impact the market.
Financials were the key players to Sensex’s gains. HDFC Bank and HDFC gained 1.87 per cent and 1.58 per cent respectively. Another private bank ICICI Bank went up 1.40 per cent to Rs 420.35 where Kotak Mahindra Bank increased 1.83 per cent to Rs 1393.85.
Britannia however continued to go down and dipped 4.46 per cent to close at Rs 3393.05, adding to previous day’s losses. Experts estimated a cut of 4 to 6 per cent in its FY21 earnings after its second quarter results.
Vedanta rose 2.07 per cent to Rs 101.25 after its unit Hindustan Zinc announced a dividend of Rs 21.30 per share.
Adani Tradeline pledged 44,00,000 shares of Adani Transmission on Tuesday and closed at 0.62 per cent higher at Rs 290.95. Promoters and Directors Jinen and Hiren Ghelani bought 33,000 shares each of the company and increased their stakes ti 6.26 per cent and 33.01 per cent respectively. The stock dropped 0.42 per cent to Rs 107.55.
Altogether 115 stocks went up on a 52-week high at the BSE. These included 8K Miles, Aarti Surfactants, ACC, Asian Paints, Berger Paints, Havells India and Lasa Supergenerics.
As many as 227 stocks rose by their daily limit on the use. These included Wellspun India, DHFL, Future Consumer, Jet Airways, Xelpmoc Design, Atlas Cycles and Future Enterprises.
Thrityone stocks sent ‘sell’ signs on BSE as they slipped below the signal line on the MACD indicator. These were Berger Paints, Colgate Palmolive, Dabur India, Skipper, Prestige Estates and Solara Active Pharma.
Markets would continue to remain volatile in near future so felt experts.
