Shares of Jindal Steel & Power (JSPL) hit an over four-month high of Rs 150, up 11 per cent on the BSE on Thursday on expectation of raw material benefits led by lower coking coal costs to offset the decline in steel prices in the near term.
The stock of the steel company was trading at its highest level since June 27, 2019. It has rallied 60 per cent in the past one month.
Shares of MSTC zoomed 20 per cent to Rs 148 on the BSE on Thursday after the construction & engineering giant Larsen & Toubro (L&T) appointed the company as its selling agent.
The stock of the state-owned e-commerce firm was trading at its highest level since listing on March 29, 2019. In the past nine trading days, it soared 56 per cent, as compared to a four per cent rise in the S&P BSE Sensex. The stock has more than doubled from its recent low price of Rs 70, touched on August 14 in the intra-day deal.
The leading stock market bourses –the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) are closed for trading today, October 28, 2019, on account of Diwali Balipratipada. Wholesale commodity markets, including metal and bullion, will also remain shut on the occasion. There will be no trading activity on forex and commodity futures markets to observe the occasion. Muhurat trading for this year has ended with headline indices posting gains. Sensex closed 192 points higher to 39,250, while Nifty closed at 11,627, after surging 43 points.
Equity market witnessed sixth consecutive session of gains with benchmark indices Sensex and Nifty-50 gaining over 0.6 per cent on positive global and domestic cues after Brexit deal and the Central government planning more PSU divestments to bridge the fiscal deficit gap.
Sensex gained 246.32 points or 0.63 per cent closing at 39,298.38 while the broader Nifty-50 gained 75.50 points or 0.65 per cent to close at 11,661.85.
Indian stock markets may stay steady following global peers but domestic macro-economic data may weigh on sentiment on Tuesday. Asian stocks and Wall Street futures inched higher as some investors held out hope that Britain still had a chance to avoid a messy exit from the European Union at key negotiations this week.
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