Share market update: These stocks defy bearish market mood, jump over 5%

NEW DELHI: Even as domestic equity market was reeling under pressure, shares of Bharat Bijlee (up 7.95 per cent), Hind National Glass (up 5.52 per cent), JTEKT India (up 5.47 per cent) and PC Jeweller (up 5.34 per cent) surged over 5 per cent on NSE in morning trade on Monday.

Equity benchmarks Sensex and Nifty50 were in the negative territory, tracking weakness in Asian stocks as plunging Turkish lira made investors rush to safe harbours, including the US dollar, Swiss franc and yen.

Strengthening global crude oil prices and falling rupee too dealt a blow to the sentiment.


Oil prices rose in global markets amid worries that US sanctions on Iran may result into a fall in supply.

The rupee on Monday joined the emerging market currencies rout as the domestic unit opened at a low of 69.47 against the US dollar.

The rupee tumbled on account of buying of the American currency by banks and importers.

The currency was trading 69.58 in early trade as against its previous close of 68.83 against the dollar on Friday.

The NSE Nifty index was trading 78 points down at 11,351, while the BSE Sensex was down 274 points at 37,595 around 10 am.

Among the 50 stocks in the Nifty pack, 15 were advancing, while 35 were declining.

Tech Mahindra, GAIL, Coal India, Sun Pharma, HCL Tech, Cipla and Mahindra & Mahindra were leading among Nifty scrips.