Sensex recovers almost all of Monday s loss in 3 days: Key factors behind the rally
Synopsis
Indices are close to their record highs again and have virtually recovered all losses sustained at the beginning of the week. Broader markets have also seen buying but analysts cautioned against betting on penny stocks.
Sensex leaps another 529 points, Nifty just a tad below 13,750; Sun Pharma, GSPL gain 3% each
INSIGHTS
NSE
NEW DELHI:
Reliance Industries and banking stocks were in demand on Thursday as benchmark indices extended gains after renewed hopes of a Brexit deal lifted risk appetite on Dalal Street.
Indices are close to their record highs again and have virtually recovered all losses sustained at the beginning of the week. Broader markets have also seen buying but analysts cautioned against betting on penny stocks.
D-St investors richer by Rs 1.5 lakh crore as Sensex wipes off Monday s loss
SECTIONS
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Synopsis
Investors grew richer by Rs 1.51 lakh crore as the total market cap of BSE-listed companies rose to Rs 185.18 lakh crore.
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The 30-share pack Sensex climbed 529.36 points, or 1.14 per cent, to 46,973.54. Its broader peer, NSE Nifty added 148.15 points, or 1.09 per cent, to 13,749.25.
NEW DELHI: Reliance Industries and banking stocks saw enough demand on Thursday to extend gains in benchmark indices to the third straight day, lifting them to near record highs.
Three straight days of gains ahead of Christmas holidays has helped Sensex wipe off all losses incurred in Monday s market crash. Bloomberg reported that this is Sensex s longest stretch of weekly gains since 2018. Nifty, on the other hand, ended at a weekly loss of 11 points.
Hotel Association of India launches Telangana state chapter
Hyderabad |
Updated on
Urges state to establish Board; accord industry status to hospitality sector
Following the launch of its state chapters in Karnataka and Punjab, the Hotel Association of India (HAI), the apex body of hotels across India, has launched its Telangana State Chapter to provide a unified voice to the hospitality sector and aid in the resurgence of the industry following the global pandemic.
The association has nominated senior industry leaders including Ian Dubier, Area Director, Hyderabad, and General Manager, Taj Krishna, Hyderabad; Reginald Corbett, Area General Manager, Lemon Tree Hotel, Hyderabad; Anirban Simlai, General Manager, The Park, Hyderabad; Dhiraj Mehta, General Manager, Trident Hyderabad and Sandeep Joshi, General Manager and Radisson Blu Plaza Hotel, Hyderabad, to drive the Chapter in the state.
Kiri Industries Ltd, Hil Ltd, Vodafone Idea Ltd and Dish TV India Ltd are among the other losers in the BSE s A group today, 24 December 2020.
Kiri Industries Ltd, Hil Ltd, Vodafone Idea Ltd and Dish TV India Ltd are among the other losers in the BSE s A group today, 24 December 2020.
Lemon Tree Hotels Ltd tumbled 5.16% to Rs 39.5 at 14:48 IST.The stock was the biggest loser in the BSE s A group.On the BSE, 8.79 lakh shares were traded on the counter so far as against the average daily volumes of 16.96 lakh shares in the past one month.
Kiri Industries Ltd lost 3.84% to Rs 549. The stock was the second biggest loser in A group.On the BSE, 18534 shares were traded on the counter so far as against the average daily volumes of 24824 shares in the past one month.
(the Company ) Legal Entity Identifier : 549300OHW8R1C2WBYK02 Results The year to 30th September 2020 was a volatile one for global equity markets and a negative one for investors in India, as indicated by our benchmark index, the MSCI India Index (in sterling terms), which returned -4.2%. Unfortunately, the Company performed poorly, both in absolute and relative terms, with a total return on net assets of -16.2% over the year. The share price fell sharply, from 744.0p to 571.5p, and the discount widened out from 9.3% at the beginning of the year to 16.8% at the year end, resulting in a total return to shareholders of -23.2%.