Rising Stock Market In The First Day Of FY2020

Rising Stock Market In The First Day Of FY2020

Rising Stock Market In The First Day Of FY2020

Indian stock markets extended new highs on Monday, the first day of the financial year 2020. Keeping up global cues, the Sensex and Nifty50 were up 267 points and 69 points, respectively at the mid-noon hours of trade.

A few Major Stocks actions today are Tata Motors, Bank of Baroda, Ultratech Cement and ACC Cement, among others.

Tata Motors Ltd: Stock jumps over 7% at Rs91.55 per share on hopes of improved financial results in fourth quarter. The Nifty Auto Index also scaled high by 1.45 percent, on expectation of strong earnings by the Auto companies, which are going to announce their numbers by the mid of this month.

Bank of Baroda: Shares of Bank of Baroda jumped 4.31% after it is amalgamated with Dena Bank and Vijaya Bank. Through this merger, Bank of Baroda becomes India’s second-largest Public Sector Bank at the back SBI effective today.

Cement companies stocks are also going high after price hike expectations. Among cement stocks, Heidelberg Cement advanced 4.24 percent, Ultratech cement rise 2.69%, Ambuja Cement surge 1.50 percent, ACC Cement rise 0.50 percent.

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