Market Updates
India Movers: Bank Stocks, Coforge, Pharma Stocks, IREDA, IRFC, JSW Steel
Arun Goswami
11 Dec, 2023
Mumbai
Stocks in Mumbai traded higher, and market indexes extended their gains from the previous six weeks in a row.
The Sensex index increased 130.34 points to 69,955.46, and the Nifty index rose 31.30 points to 21,000.55.
On the Mumbai stock exchange, 177 stocks traded at their 52-week highs and 15 stocks traded at their 52-week lows.
Bank stocks were in focus in Monday's trading, and State Bank of India advanced 0.7% to ₹618.30, HDFC gained 0.2% to ₹1,656.0, Bank of Baroda jumped 2.2% to ₹216.80, and Canara Bank advanced 2.2% to ₹447.85.
Pharmaceutical stocks traded down after rallying in the previous three weeks.
Dr. Reddy's Laboratories declined 5.5% to ₹5,452.0, Aurobindo Pharma dropped 2% to ₹997.50, Cipla decreased 0.9% to ₹1,208.35, and Sun Pharma dropped 0.3% to ₹1,231.05.
Coforge Ltd. gained 1.6% to ₹5,877.35, and the company launched Quasar Responsible AI.
"It is a comprehensive solution that guarantees the utilization of AI adheres to ethical standards, fairness, transparency, and regulatory compliance," the company said in a press release.
The central government-controlled non-bank finance companies were among the leading gainers.
Power Finance rose 1% to ₹388.30, REC added 0.4% to ₹407.20, IRFC advanced 7.5% to ₹82.35, and Indian Renewable Energy Development Agency soared 29% to ₹85.0.
JSW Steel decreased 0.2%to ₹837.85 and the company said crude steel production increased 11% from a year ago in November to 22.04 lakh tons.
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