Market on the Rise
The Sensex surged, touching its highest point of the day, with the Nifty also nearing a key milestone. This positive momentum was fueled by strong performances
in various sectors, reflecting investor confidence. The Indian market's performance indicates a positive shift for traders.
Cement Sector Leads
Star Cement experienced a notable surge, rising by up to 4% after its subsidiary secured a limestone block license in Assam. The company's plans for a ₹3,200-crore plant in Assam further fueled investor interest, showcasing expansion and growth potential in the region for the company.
Tech Giants Rally
Infosys and TCS led the charge in the IT sector, with both companies experiencing strong gains of 3%. This rally in tech stocks positively impacted the overall market sentiment, contributing to the Sensex's upward trajectory and reflecting the sector's strength.
Other Stocks in Focus
JK Paper, TN Newsprint, and West Coast Paper saw gains of up to 17%, fueled by heavy trading volumes. However, Nazara Technologies experienced a downturn, dropping 12% and hitting a three-month low, indicating varied performances within the market landscape.
Analyst Insights & LoA
Jefferies expressed a positive outlook on India's contract research, development, and manufacturing organization (CRDMO) sector, initiating a 'Buy' rating on Cohance and upgrading Divi's. Additionally, Markolines Pavement shares rose after securing a LoA worth ₹100 crore, indicating project wins.
