Wednesday, 12 December, 2018

Healthcare, banks stocks lift equity indices after 7-day fall (Second Lead)

52-week-high Healthcare, banks stocks lift equity indices after 7-day fall (Second Lead)
Nellie Chapman | 08 February, 2018, 14:43

The midcap and smallcap indices were outperforming their largecap counterparts, as the BSE MidCap Index rose 1.73% and the BSE SmallCap Index gained 2.3%. At 9.32 a.m, the Sensex was trading up 225.29 points or 0.66% at 34,308.00 with 24 components gaining.

Both the benchmark indices closed lower for the seventh straight session on Wednesday.

The key indices started on a positive note in early trade and held on to their gains throughout the day, recording 552 points and 161 points gains intra day, respectively compared to yesterday's close.

The Sensex was down by 113.23 points or 0.33 per cent at the Wednesday's closing.

Among 19 BSE sectoral indexes, 18 closed in the green.

In the Asian region, Hong Kong's Hang Seng was up 0.48% while Japan's Nikkei higher 0.26% in early trade today.

Meanwhile, foreign portfolio investors sold shares worth '2,326.10 crore on Tuesday, while domestic institutional investors bought equities to the tune of '1,699.74 crore, as per provisional data released by the stock exchanges.

On the Nifty, most valued stock was Galaxy Surfactants which closed 13.44% higher after making its debut on bourses today. BSE Healthcare index is up by 2.53%, while BSE Information Technology is up by 2.57%. Net sales were up 30 percent at Rs 3,417 crore.

Bharat Heavy Electricals stock advanced 1% after the company has reported 64% rise in net profit at Rs153cr for the quarter ended December 2017.

The company's market valuation surged by Rs 3,589.55 crore to Rs 49,402.55 crore.

The company reported a net profit of Rs 375 crore in the same period previous year.