IT, real estate stocks lead market rally
IT stocks are the biggest gainers in Thursday’s monster rally of more than 800 points after the US Fed gave a dovish message on interest rates.
IT stocks are the biggest gainers in Thursday’s monster rally of more than 800 points after the US Fed gave a dovish message on interest rates.
The 2QFY24 results of BSE-500 Index companies showed further weakness in revenues (0.7 per cent yoy decline ex-BFSI), even as earnings growth remained robust (47 per cent yoy), Kotak Institutional Equities said in a report.
The exercise on the formulation of the District Good Governance Index was set in motion in July 2021 which has now been completed.
The Niti Aayog had conducted a survey in 56 cities of the countries on performance in SDG index in which social, economic and environment criterias had been included and Shimla had been ranked first.
Top losers in the Sensex pack included Bajaj Finance, ONGC, Hero MotoCorp, Maruti, L&T, NTPC, SBI, Tata Motors and Axis Bank, cracking up to 9 per cent.
Led by the selling in equity market, the market capitalisation of BSE-listed companies dropped by Rs 2,00,258.81 crore to Rs 1,50,09,329.19 crore.
Index gains came on the back of banking and financial stocks, while IT, FMCG and Nifty media index ended lower.
The 30-share index was trading 169.69 points, or 0.44 per cent, higher at 38,770.03. Similarly, the broader NSE Nifty was up 38.70 points, or 0.33 per cent, at 11,636.95.
