Metal, pharma stocks top performers in trade

  • IANS
  • Stock Market News
Metal, pharma stocks top performers in trade
Credit: © Reuters.

New Delhi, Sep 29 (IANS) The top performers on the Nifty were Nifty Metal and Nifty Pharma , which gained 2.66 per cent and 1.9 per cent, respectively, said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.He said that the metal prices have been rising optimistically over the past few weeks, which was one of the factors driving the metal sector.

Hindalco Industries (NS: HALC ), NTPC (NS: NTPC ), Hero MotoCorp (NS: HROM ), Dr Reddy's Laboratories (NS: REDY ) and Divis Lab, were among the top gainers while losers include Adani Enterprises (NS: ADEL ), LTIMindtree (NS: LTIM ), HCL Technologies (NS: HCLT ), Tech Mahindra (NS: TEML ) and Power Grid (NS: PGRD ).

Vinod Nair, Head of Research at Geojit Financial Services said the Indian market witnessed a rebound as positive GDP data from Britain instilled confidence among its global peers.

However, the market is facing stiff resistance at higher levels due to insipid liquidity and a lack of triggers to overcome the bears.

The upside risk to domestic inflation may recede with the return of a good monsoon in September. This, in turn, could provide the RBI with leeway to maintain a pause in the upcoming policy meeting next week, he said.

--IANS

san/dan

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search

Related Articles