POST MARKET
The Indian equity market snapped its two-day losing streak and ended the first session of the new series on a strong note on April 1, supported by signs of de-escalation in the ongoing tensions between the US and Iran.
At close,
Sensex ↑ up 1,186.77 points or 1.65 percent at 73,134.32
Nifty ↑ up 348 points or 1.56 percent at 22,679.40.
About 3675 shares advanced, 478 shares declined, and 90 shares were unchanged.
Top gainers – Interglobe Aviation, Adani Ports, Adani Enterprises, Trent, Bharat Electronics Top losers – Dr Reddy’s Labs, HDFC Life, Cipla, NTPC, Sun Pharma.
Except pharma (down 1%), all other sectoral indices ended in the green with the defence index surging more than 5%, capital goods, media, PSU Bank indices rose 3% each, while auto, consumer durables, IT, metal, realty, FMCG, telecom, and Private Bank up 1-2%.
Among the broader market indices, the Nifty Midcap index added 2.2 percent and the smallcap index rose 3.3%.
STOCKS IN NEWS
GRSE
Garden Reach Shipbuilders & Engineers rallied 20 percent on Wednesday, with the Nifty India Defence index rising nearly 7 percent intraday, snapping a two-day decline amid apparent cracks between US-Europe ties. Market participants tracked developments in the United States and Europe amid rising unease among NATO allies over the ongoing war in Iran.
Railtel Corporation of India
RailTel Corporation of India’s share price rose over 7.6 percent on April 1 following the company’s receipt of the work order from the Jharkhand Education Project Council. The size of said order is Rs 29,69,03,155 and is to be executed by April 6, 2029.
Delhivery
Shares of shipping and logistics firm Delhivery rallied up over 3 percent on Wednesday amid indications of a possible de-escalation in the West Asia conflict.
Pace Digitek
Pace Digitek share price added 7.61 percent, following the company received a Letter of Acceptance (LoA) for Rs 494.54 crore from NTPC. NTPC awarded the EPC package of a Battery Energy Storage System (BESS) at the Nabinagar Super Thermal Power Station, including ex-works supply and comprehensive annual maintenance for the system’s entire design life.
Texmaco Rail & Engineering
The shares of Texmaco Rail and Engineering surged more than 12 percent on April 1 following the order win from JSW Group. The Group has awarded an order of Rs 357.11 crore for the manufacture and supply of BLSS (Bandwidth Lease Service Scheme), BLCS (Bandwidth Lease Circuit Service), and BFNV rakes along with BVCM Wagons.
Source – Moneycontrol
