Best Stocks to Buy – Markets trade positive; Sensex zooms 364 pts, Nifty 50 near 14,770; Bank, Financials outperform; Bajaj twins, SBI, IndusInd top gainers; Bharti Airtel in focus
At around 09.46 am, Sensex is trading at 49,096.40 up by 363.85 points or 0.75%. The index is trading near the day’s high of 49,111.39.
Meantime, Nifty 50 was performing at 14,768.90 higher by 91.10 points or 0.62%. The index has climbed to the day’s high of 14,782.60.
Gainers on Sensex are – IndusInd Bank surging nearly 3% followed by SBI higher by 2.5% and Bajaj Finserv advancing by 2.3%. Bajaj Finance, ICICI Bank and HDFC Bank zoomed between 1.5-2%.
Other stocks like Kotak Bank, HDFC, Axis Bank, Ultratech Cement and ITC jumped by more than 1% each.
On the downside, on Sensex, L&T dipped by nearly 2% followed by Bharti Airtel, Titan, NTPC and Tech Mahindra soaring by around 1% each.
Companies that are set to announce their March 2021 quarterly result today and will be in focus are – Bharti Airtel, Federal Bank, Colgate Palmolive, Gland Pharma, Sun Pharma Advanced Research Company, Orient Cement, 3i Infotech, Asit C Mehta Financial Services, ATV Projects India, Butterfly Gandhimathi Appliances, Gujarat Narmada Valley Fertilizers, Gokul Agro-Resources, Garden Reach Shipbuilders & Engineers, Indo Count Industries, Mangalore Refinery & Petrochemicals, Nalin Lease Finance, Nutricircle, Prakash Pipes, Rane Brake Lining, SBEC Systems, Shakti Pumps (India), Subex, Suraj, and Wabco India.
Bank Nifty contributed to the gains, by strengthening over 534 points. Nifty Financial Services jumped by nearly 2%.
Indian markets rose despite Asian counterparts trading on a mixed note with Japan’s Nikkei underperforming the most. South Korea’s KOSPI was also under pressure. US futures also fluctuated as Covid-19 cases spiked in various region and lingering inflation concerns globally weighed investors betting in stock markets.
In India, the seven day average of Covid daily cases has contracted for seven consecutive days along with the positivity rate declining below 20% and a dip of over 1.5 lakh active cases over the past week.
In the last 24 hours, India posted 3,11,170 new cases, 3,62,437 discharges and 4,077 deaths.
Best Stocks to Buy - Markets trade positive; Sensex zooms 364 pts, Nifty 50 near 14,770; Bank, Financials outperform; Bajaj twins, SBI, IndusInd top gainers; Bharti Airtel in focus
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