Share markets in India closed on a strong note yesterday.
At the closing bell yesterday, the BSE Sensex crossed its 35,000 mark for the first time and stood higher by 311 points (up 0.9%) and the NSE Nifty closed up by 95 points (up 0.9%). The BSE Mid Cap index ended the day up by 0.7%, while the BSE Small Cap index ended the day up by 0.4%. Gains were seen across all sectors with stocks in the banking sector and IT sector leading the gains.
Top Stocks in Focus Today
From the pharma sector, market participants will be tracking Sun Pharma share price. The has settled a patent litigation with Ironwood Pharmaceuticals Inc and Allergan plc in the US over a generic version of Linzess – a drug used to treat bowel problems.
From the PSU sector, BHEL share price will be in focus today. The stock of the company witnessed buying interest yesterday after the state-run power equipment maker bagged an order worth Rs 28 billion.
Ashok Leyland share price will also be in focus today. The company has signed a Letter of Intent (LoI) with Israeli firm Phinergy for use of aluminum air batteries for Electric CVs in India. Phinergy is a leading developer of clean and high energy-density systems based on metal-air technology. With its aluminium-air battery, Phinergy has developed a revolutionary way to generate electricity using aluminium as an energy source.
Sensex Crosses 35,000 Mark…
The Sensex crossed its 35,000 level for the first time yesterday. Most of the buying interest was seen on announcement of reduction in additional borrowing by the government and expectations of big changes in the Goods and Services Tax (GST) Council's next meet scheduled on Thursday.
The domestic equity markets have been in an uptrend lately. In 2017, India was among the three emerging markets, which gained more than 35% in dollar terms. The other two were Hungary and South Korea.
The BSE Sensex earned a 35.1% return in the dollar terms and 28% in the local currency in 2017. However, this wasn't enough to beat the midcap and smallcap indices. The midcap and smallcap indices saw a sharp increase of 47% and 58% respectively in 2017.
