The Nifty Auto index was trading 0.36 per cent up at 10410.3.
The total contract value of the deal stands at Rs 32,156.04 crore, Dilip Buildcon said in a declaration to BSE. Following the development, the stock jumped 8.62 per cent to hit a high of Rs 601.80 on the bourses.
A total of 17,495 shares changed hands on the counter till 10:46AM (IST)
The Relative Strength Index of the stock stood at 54.57 on Friday.
A total of 10,101 shares changed hands on the counter till 01:22PM (IST).
“Even a strong stock like L&T held on and did not perform for such a long period of time; Bharti did not perform for such a long period of time and then they caught on. The same is the case with ITC.â€
“We have to be selective in putting incremental capital to work. I am not a great believer of booking profits and then re-entering because it involves two legs. You might get lucky in exiting. You may not get lucky while entering back.â€
In the 50-share pack Nifty, Infosys was the biggest gainer, up 2.38 per cent. Wipro, HCL Tech, HDFC Bank, Tech Mahindra, IndusInd Bank, TCS and Asian Paints were among other gainers.
The breakneck pace of the gains for the index is representative of the strength of the current bull market in Indian equities that started at the depths of the crash in March 2020. Since then, the BSE Sensex has risen over 135 per cent as a tsunami of global liquidity and a faster-than-expected earnings recovery from the pandemic lows boosted sentiment.
"India is a beneficiary of “two mega windfalls†at the same time: ample global liquidity and the shifting of that liquidity away from China into other large and high growth countries such as India that are attracting positive investor sentiment. New entrepreneurs and new business models from India, including disruptors that come from both traditional and tech sectors, are on the radar of foreign investors. "
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