Reliance Communications Surged Up To 15% despite Weak Market Sentiment
Today, on NSE, in the morning trade, the shares of Reliance Communications surged up to 15 per cent. Even though the there was weak broader market sentiment, the stocks surged. Apart from Reliance Communication, Shares of Ugar Sugar Works also surged up to 15 % in the morning trade.
The list of stocks that surged 10 percent includes stocks like Spice Mobility, Time Technoplast, Orient Refractories, Sathavahana Ispat, Sujana Universal Industries and Bil Energy Systems.
On Friday, the equity benchmarks were trading in the negative territory on unabated foreign fund outflows and surging global crude oil prices.
It is believed that the rupee depreciating against the US dollar also affected momentum. At around 10:05 am, the Nifty index was 36 points down at 10,647, while BSE Sensex was 154 points down at 34,995.
Out of 50 stocks in the Nifty50 pack, 20 stocks were trading in the green index, while 30 were in the red index.