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While Sensex Bleeds, These Stocks Jump, Some Upto 10%

The BSE Sensex fell 509 points to close at 33,176.00 on Friday

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While Sensex Bleeds, These Stocks Jump, Some Upto 10%

Some stocks managed to post gains as high as 10% on Friday


While Sensex witnessed a bloodbath, some of the stocks posted heavy gains on Friday. JP Associates shares, for instance, rose by nearly 10%, MMT shares soar 9%, Sintex witnessed an upswing of 8.58%. At the same time, Adani Transmissions shares jumped 4.33%. Besides this, Aegis logistics shares rose 3.66%, GE T&D India shares rose 3.35%, Sadbhav Engineering shares rose 3.25%, Advanced Enzyme Technologies shares rose 3.64%. Among banking stocks also, which happen to be the major losing index, Syndicate Bank shares rose 2.94%. HFCL, Shri Ram City Union Finance, Balkrishna Industries, GHCL, Naukri and Crompton shares rose by upto 2%.

In a scenario when global trade war heats up, markets around the world turn fidgety and witness massive sell-offs, some are optimistic about the performance of some of the mid-cap and small-cap stocks. The BSE Sensex fell 509 points to close at 33,176.00 on Friday, continuing its downward movement for the third straight session dragged down by finance, energy and metal stocks. The Nifty fell 165 points to settle at 10,195.

Prasanna Pathank, fund manager, Taurus Mutual Fund says, "Mid-cap IT space looks interesting. With growth coming back in US, there is a possibility that more business will flow to some of these companies. The relative valuations of some of these zero-debt companies looks attractive and are not capturing the revival in growth. There might be opportunities in a weak sector also. There is no point in avoiding a particular sector entirely. However, one needs to be careful about companies whose stock prices have risen multi-fold in past 3 to 4 years without corresponding increase in earnings."

On Friday, NBCC shares jumped 1.87%, Ajantha Pharma shares soared 1.69%, Piramal Enterprises shares closed higher by around 1.75%, GSPL shares rose by 1.58%, Canara Bank shares rose 1.57%, and DBL shares were 1.52% higher at the time of closing.


 


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