Sensex extends gains to over 200 points on Budget Day, Nifty nears 11,100
The market has extended its gains from the morning session. The Sensex is trading above 36,100 now.
The Sensex is up 216.41 points or 0.60% at 36181.43, and the Nifty up 59.10 points or 0.54% at 11086.80. The market breadth is positive as 1451 shares advanced, against a decline of 622 shares, while 185 shares are unchanged
Larsen & Toubro, TCS, and M&M are the top gainers, while Dr Reddy’s, Tata Steel, Bharti Infratel and Vedanta lost the most.
Shares of Quess Corp added 3.8 percent intraday Thursday as the company has acquired 100 percent in HCL Computing Products.
The administrative committee of the company at its meeting held on January 31 considered and approved the acquisition of 100 percent equity stake in HCL Computing Products for Rs 30 crore.
HCL Computing Products is a subsidiary of HCL Infosystems, and said acquisition will be completed on or before March 31, 2018.
The company also signed definitive agreements to acquire 100 percent equity in Monster (India) and Quesscorp Holdings Pte Ltd., a subsidiary of Quess Corp, has signed definitive agreements to acquire 100 percent equity in Monster.com SG Pte Ltd., 100 percent equity in Monster HK Limited and 49 percent equity in Monster Malaysia Sdn Bhd.
The stock is trading in a super uptrend as we have witnessed a healthy correction after every rise and the recent correction from 66.50 levels can be considered as a healthy correction again.
On Wednesday’s session, the stock moved up to 6 percent in an intraday basis with a strong volume hinting that the stock may continue its overall uptrend.
On the daily charts, it seems that the stock has broken from its bullish flag pattern with good volume which is bullish in nature.
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