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Shares of ICICI Bank, Larsen & Toubro (L&T), State Bank of
India (SBI) and Axis Bank were among the S&P BSE Sensex index stocks,
rising over 15% during benchmark index's over 2,000-point rally in three weeks.At
12:45 PM; the S&P BSE Sensex was trading at 35,464 levels, rallied 2,115
points or 6.3% from its October 26 level of 33,349 Housing Development Finance
Corporation (HDFC), Maruti Suzuki India, Reliance Industries, Bharti Airtel and
Adani Ports too outperformed the market by gaining in the range of 8% to 14%
during the period. The
equity market bounced back from its recent low on account of continued foreign
fund inflow and appreciating rupee. Positive leads from the US markets on
optimism that the US and China may resolve their trade dispute too influenced
sentiments.Thus
far in November, foreign portfolio investors (FPIs) have made net inflow of Rs
29.67 billion in equities till Thursday, provisional data shows. They had
reported a record net outflow of Rs 292 billion during the month October.The
beaten down stocks from the sectors such as cement, paints, oil marketing
companies, consumption led by fast moving consumer goods, aviation and
financials outperformed the S&P BSE Sensex in the past three weeks. Around 226 stocks from the S&P BSE 500 index beat the market
by gaining over 7% during the period. Linde India, Jet Airways, PNB Housing
Finance, Adani Transmission, Adani Power, Bandhan Bank and Radico Khaitan were
up in the range of 25% to 63%.ICICI Bank (Rs 375) and Divi’s Laboratories (Rs
1,574) were trading at their respective all-time high level after reporting a
better-than-expected September quarter (Q2FY19) result.L&T touched an
intra-day high of Rs 1,413 today, was 4% away from its record high level of Rs
1,470
TOP GAINERS: RELIANCE , BAJFINANCE , HCLTECH
MAJORLOOSERS: YESBANK
, TATASTEEL , JSWSTEEL
.
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