Tuesday, 24 July 2018

Sensex, Nifty Extend Gains, Here Are The Top Stocks

Posted by suhani varma on Tuesday, July 24, 2018 with No comments

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Sensex continued to extend its record run on Tuesday. Gains were seen in cement stocks and the banking sector.

Mumbai-based ACC Cement climbed over 12% after posting a marginal increase in Q2 profits at Rs328cr. It was closely followed by pan-India cement maker Ambuja Cement, which posted an over 8% gain. Other stocks including Orient Cement (10%), India Cement (10%), JK Lakshmi (8%), and Heidelberg (7%) also received traction.

Further, after banks signed the inter-creditors agreement with the government to recover NPAs, banking indices on NSE traded in the green. Bank of India, Dena Bank, Bank of Maharashtra, City Union Bank, Karnataka Bank, Union Bank of India were among the 24 public sector, private sector and foreign banks to sign this agreement. Under the agreement, lenders will appoint a lead bank to formulate a resolution plan for stressed assets.

The NSE Nifty 50 index was 40 points away from its record high of 11,171.55, which it had hit on January 29. Maruti Suzuki, ICICI Bank, ITC, and Infosys were the top contributors to the S&P BSE Sensex.

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