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Market bull run continues: Adani Ports, Yes Bank, ICICI Bank among biggest gainers

Markets rose for the third consecutive day after investors cheered reduction of tax rates on 29 goods and 53 services by GST council.

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Market bull run continues: Adani Ports, Yes Bank, ICICI Bank among biggest gainers

Markets rose for the third consecutive day after investors cheered reduction of tax rates on 29 goods and 53 services by GST council.In addition, continued foreign fund inflows and encouraging Q3 numbers lifted investor sentiments. Sensex gained 251 points and closed at 35,511.58 whereas Nifty gained over 77 points and ended the day at 10,894.70.

Out of 3030 stocks that were traded today, 1422 advanced, 1464 declined and 144 remained unchanged. The major gainers in BSE A category were Gruh Finance (16.26%), Cyient Limited (12.42%) and Swan Energy (7.74%). BSE Midcap and BSE Small cap gained 135 points and 170 points respectively. Among the midcaps, Biocon hit 52 week high in intra-day after it announced global collaboration with Sandoz on next generation Biosimilars.

The top 3 sensex gainers were Adani Ports (4.68%), Yes Bank (2.37%) and ICICI Bank (2.15%). ICICI Prudential Life Insurance Company gained over 4% after declaring its Q3FY18 results. It reported 19% increase in net premium income. IDFC Bank witnessed volatility in day's trade after it reported over 23% decline in net profit in Q3FY18. ITC reported above estimates numbers with 17% increase in net profit in Q3FY18.

All 19 BSE Sectoral indices gained with banking, finance and realty sectors as the biggest gainers. All stocks of the bankex index gained amid news of FDI investment in banks. PNB (3.4%), Yes Bank (2.4%) and ICICI Bank (2.15%) gained the most in bankex index.

Asian stocks gained after China announced faster than expected fourth quarter growth. Japan and Shanghai stocks advanced by 0.3% and 0.5% respectively. South Korean stocks ended flat. US stocks fell in the overnight trade due to losses in industrial stocks.

 

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