After days of tepid returns, benchmark indices Sensex and Nifty bounced back on Thursday after a good day for the bulls. Sensex surged by over 490 points while Nifty gained over 140 points during the last trading session.
Analysts attributed the bounce back to the onset of earnings season. Vinod Nair, Head of Research at Geojit Financial Services, said, "Market bounced back after the last two negative trading days led by strong monthly business updates of leading banks, emphasizing robust credit growth. The Realty sector was the highest gainer in anticipation of robust demand in the residential category, which was supported by healthy housing loans disbursement data announced by banks."
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More firms are expected to declare their Q3 results soon in this month which is expected to drive the markets in the near term.
Here are the top stocks to watch on 5 January:
1) Mazagon Dock: As per reports, the government is looking to offload stake in the multibagger shipbuilding firm's stock. Its shares closed at Rs 2,258 after falling by 1.08 per cent on Thursday.
2) Dabur: The company said its revenue is expected to rise in mid to high single digit percentage. Its shares closed at Rs 565.05 after gaining 2.53 per cent.
3) SBI: The company completed placement of $250 million green bond. Its shares posted marginal gains of 0.023 per cent on Thursday to close at Rs 643.60
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4) Lupin: The firm has approval in the United States for its anti-diabetic drug which would be manufactured in India. Its shares closed at Rs 1,402 after falling by 0.31 per cent.
5) Grasim Industries: The company announced price of Rs 1,812/share for its Rs 4,000 crore rights issue. Shares of the firm fell by 0.44 per cent to close at Rs 2,063 on Thursday.
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