sensex today: After Market: 109 stocks ready to rise; TaMo, SBI shares gain

NEW DELHI: In sync with most global peers, India’s equity benchmarks Sensex and Nifty settled in the positive territory on Tuesday, extending gains into the fourth consecutive session.

While hopes of a rate cut by RBI seem to have played helped yet again, risk appetite grew in the light of positive global sentiment.

Positive manufacturing data from US and Chinese brought relief to investors, significantly allaying worries of economic slowdown.

Gains in shares of select heavyweights, including HDFC, TCS, Tata Motors and Bharti Airtel, helped flagship Sensex mark its record closing high at 39,056.

Here is a wrapup of the movers and shakers of the day.

TaMo shares surge 8%

Shares of Tata Motors closed 8.36 per cent higher at Rs 202.80, extending the gains into the fourth successive session. The stock got traction on expectation of a financially better fourth quarter for its British luxury car unit

Jaguar Land Rover

(JLR). Meanwhile, the company said sales grew 16 per cent to 6,78,486 units during the financial year against 5,86,507 in 2017-18. The company’s March sales, however, declined 1 per cent.

SBI gains 2% on MS upgrade
Shares of State Bank of India (SBI) gained 1.78 per cent to close at Rs 328.55 after the global financial firm Morgan Stanley assigned an ‘overweight’ rating to the stock and raised the target price to Rs 425 from Rs 375.

Lupin shares gain on EIR
Shares of drug major Lupin logged gains of 1.40 per cent to close at Rs 776.85 after it received the receipt of the Establishment Inspection Report (EIR) from the USFDA for its Pithampur facility in Madhya Pradesh.

RVNL IPO subscribed 45% on Day 3
The initial public offering (IPO) of Rail Vikas Nigam (RVNL) was subscribed 45 per cent on the third day of the bidding process. According to data available on NSE website, the IPO received bids for 11,43,32,400 shares till 4:30 pm against the total issue size of 25,34,57,280.

109 stocks look ready to rise
Momentum indicator moving average convergence divergence, or MACD, showed bullish crossovers on 109 counters on BSE, indicating potential rise in the coming sessions. Among them were Tata Motors, SAIL, BEL, Bharti Airtel, Tata Steel and Wipro. Meanwhile, NBCC (India), NCC, HPCL, Sun Pharma, Ambuja Cements and Indraprastha Gas were among 53 stocks that showed bearish crossovers.


Author: Prakash Poojary

Business Analyst

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