Market News - HDFC Bank Extends Record Run ,Jubilant Food Works Gains

HDFC Bank Extends Record Run - Shares of HDFC Bank extended gains for the sixth consecutive trading session, its longest gaining streak since September 2017. The stock rose as much as 0.94 per cent to hit an all-time high at Rs 2,247. Trading volume was more than double its 20-day average, The Relative Strength Index was above 70, indicating that the stock may be overbought.

Jubilant FoodWorks Gains On Promoter’s Stake Sale Plans- Shares of the Domino’s Pizza operator in India halted a two-day fall and rose as much as 3.3 per cent to Rs 1,369. The company’s promoter Jubilant Consumer Private Limited plans to sell 40 lakh shares at the floor price of Rs 1,272.6 apiece, aggregating to Rs 503.8 crore via secondary placement of shares.

Rupee trades lower against US dollar

The Indian rupee on Thursday weakened marginally against the US dollar, tracking losses in its Asian peers as traders assess the global slowdown with China reporting weaker-than-expected industrial production data. The rupee was trading at 69.63 a dollar, down from its previous close of 69.54. The home currency opened at 69.68 a dollar.

Market opens: It is a firm start for the Indian indices on Thursday morning with Nifty around 11,370 level. The Sensex is up 131.80 points at 37883.97, while Nifty is up 32.80 points or 0.29% at 11374.50. About 566 shares have advanced, 268 shares declined, and 56 shares are unchanged.

DHFL gained 5 per cent, followed by Lemon Tree, Lupin, Zee Ent, Indiabulls Housing, HCL Tech, Axis Bank, Yes Bank, Infosys are among the major gainers on the indices, while losers include Power Grid, BPCL, Tata Motors, Adani Ports and HPCL.

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Stock Market News - Budget 2020 | Removal of exemptions in new tex regime to impact life insurers, MFs

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