Indian benchmark equity indices rebounded sharply on Thursday after buying in index majors HDFC Bank and Reliance Industries.
The BSE Sensex jumped 358.79 points or 0.51 per cent to settle at 70,865.10. The NSE Nifty rallied 104.90 points or 0.50 per cent to close at 21,255.05.
Nifty recovered from lower levels following rebound in global markets and closed with gains of 105 points at 21255 levels. Broader market outperformed with Nifty Midcap 100 and Smallcap 100 up more than 1.5 per cent. All sectors ended in green with Oil & Gas, PSU Bank and Metals being top gainers. Niche sector like defence was in focus after companies received order from government.
“Though market saw profit booking yesterday, but the underlying sentiments remain positive given robust micro and macro domestic factors. We expect market to react to US GDP data which slated to release late Thursday. Further markets is likely to move in a range as investor participation is expected to gradually decline globally ahead of Christmas and New Year holiday,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Here are the top stocks to watch on 22 December:
The IT major announced a five-year strategic partnership with leading automotive parts distributer LKQ Europe. The collaboration aims to bring a comprehensive transformation of LKQ Europe’s business processes.
The automobile manufacturer has received a no-objection certificate from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the conversion of its differential voting rights shares to ordinary shares.
The Life Insurance Corporation of India has received an exemption from the Department of Economic Affairs to achieve the 25 per cent minimum public shareholding within 10 years of listing in 2032.
LupinLife, the consumer healthcare company of Lupin, launched Softovac Liquifibre, a 100 percent Ayurvedic liquid laxative. With this product, the company has entered the Indian liquid laxative market. Softovac Liquifibre is a formulation of Isabgol fibre in liquid form and natural actives such as sonamukhi, harad, mulethi, saunf, amaltas, and gulab jal.
The company has successfully raised Rs 1,400 crore through a Qualified Institutional Placement (QIP) at an issue price of Rs 2,424 per share, indicating a 1.06 per cent discount to the floor price.