Pre-opening rates indicate a higher opening for the market, with the Nifty reclaiming 11,000, while the Sensex is up over 100 points.
Market opens: Equity benchmarks have begun the day on a positive note, with the Sensex gaining over 100 points, while the Nifty has reclaimed 11,000 in the opening tick.
The Sensex is up 106.61 points or 0.29% at 36480.05, while the Nifty is up 24.40 points or 0.22% at 11004.90. The market breadth is positive as 261 shares advanced, against a decline of 105 shares, while 40 shares are unchanged.
All sectoral indices are trading in the green, with maximum gains seen among metals, and automobiles. Midcaps, meanwhile, are trading absolutely flat.
Jhunjhunwala hikes stakes: Rakesh Jhunjhunwala, popularly known as the big bull of D-Street, increased his stake in Lupin by 0.03 percent to 1.95 percent as per the latest shareholding data for the quarter-ended June.
He also raised his stake in Jaiprakash Associates by 0.83 percent to 2.06 percent. The billionaire investor now holds 5 crore shares in the company. Jhunjhunwala had re-entered the counter in March quarter after having sold off his entire holding in 2017.
He also reduced his stake in five companies: Aptech, CRISIL, Edelweiss Financial Services, Firstsource Solutions and Titan Company.
Jhunjhunwala buys shares through his company Rare Enterprises or in his own or wife Rekha’s name. Companies in which Jhunjhunwala or persons acting in concert held over a percent stake are disclosed in the shareholding data released by the BSE as of July 17.
Only 15 of nearly 30 companies in Jhunjhunwala’s portfolio released their shareholding data for the quarter-ended June till now. Of the 14 companies, only two have delivered positive returns.
The 57-year-old billionaire kept his stake constant in eight companies, which fell up to 60 percent in 2018 till date. These companies include: Geojit Financial Services, Ion Exchange (India), Man Infraconstruction, Multi Commodity Exchange of India, Orient Cement, Mandhana Retail Ventures and VIP Industries.
Market at pre-open: Pre-opening rates indicate a higher opening for the market, with the Nifty reclaiming 11,000, while the Sensex is up over 100 points.
The Sensex is up 110.49 points or 0.30% at 36483.93, while the Nifty is up 51.40 points or 0.47% at 11031.90. About 3 shares have advanced, 0 shares declined, and 2718 shares are unchanged.
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