Market update … Nifty above 9k … Autos and mid-cap stocks in limelight
· The market staged a comeback as Sensex surged 989 points or 3.31 percent to 30,883 while the Nifty was up 264.30 points or 3.02 percent at 9,013. Auto, Metal, Banking and NBFC stocks gained. Beaten down small and Mid-cap stocks are witnessing bargain hunting. US Future climbed up half percent while yesterday gained over 3%. Maruti, Bajaj Auto, Hero Motocorp gained 7-10%
· Astron Paper & Board Mill gained 10%. The company received permission from the Government of Gujarat to commence production at its unit-2 located in Bhuj.
· IDBI Bank gained 10%. The private sector lender on Wednesday said it has targeted to raise up to Rs 7,500 crore through rupee bonds in the current fiscal.
· Shares were mixed in Asia on Thursday after a 3.4% gain on Wall Street overnight as investors chose a positive focus for data about the coronavirus outbreak’s trajectory. Japan’s Nikkei 225 index lost 0.4% after the central bank governor said the economy faces “extremely high” uncertainty over the likely impact of the pandemic. Shares rose in Hong Kong, Sydney and Shanghai.
· Block deal Future consumers 59.2 lakh shares
· Abnormal volumes – Glaxo Consumers, Balkrishna India, ICICI Securities, Biocon, Bajaj Auto and Bajaj Finance
