Friday, 15 December 2017

Sensex rallies over 250 points; Vedanta, M&M stocks gain

Indices extended gains on Friday after various exit polls predicted a win for the BJP in Gujarat and Himachal Pradesh assembly elections. The market rallied for the second consecutive session led by ITC, HDFC Bank, RIL and HDFC.

On the political front, inter session of Parliament has begun today.

At 12:20 PM, the BSE Sensex was trading at 33,534, up 290 points, while the Nifty50 index was ruling at 10,347, up 95 points.

Shares of Adani group companies were trading higher after various exit polls suggested BJP will come back to power in Gujarat. Adani Power, Adani Ent (+4%).

Shares of HDFC Bank surged 2% after the bank said its promoter, Housing Development Finance Corp will infuse capital into the lender through a preferential share allotment.

Shares of Shalby Ltd fell 3% in early trade on market debut after the company's Rs510cr ($80 mn) initial public offering last week.

Shares of ICICI Bank rose 2% today after a block deal of 8 mn shares or 0.12% stake took place on the BSE at Rs306.70 per share.

In broader markets, both BSE Midcap and BSE Smallcap indices gained 1% each.

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