On the domestic macroeconomic front, India’s manufacturing sector growth fell to an 18-month low in December amid a softer increase in factory orders and output despite minimal inflation.
Stock Market News: Balu Forge Industries share surged over 9 per cent on Thursday to hit a 52-week high of Rs 271.80. This is a surge of 9.13 per cent from the previous close of Rs 249.05. The counter has outperformed the sector by 5.62 per cent.
On technical parameters, the counter is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Balu Forge shares have given bumper returns of 448 per cent to investors in the last five years.
Meanwhile, equity benchmark indices Sensex and Nifty rebounded nearly 1 per cent on Thursday after sliding for the past two sessions, propped up by bargain hunting in realty, power and financial stocks.
The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57 points. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79 points. The Nifty climbed 141.25 points or 0.66 per cent to 21,658.60 points. European markets were trading in the green. The US markets ended lower on Wednesday.
Global oil benchmark Brent crude climbed 0.92 per cent to USD 78.97 a barrel.
On the domestic macroeconomic front, India’s manufacturing sector growth fell to an 18-month low in December amid a softer increase in factory orders and output despite minimal inflation.
Disclaimer: The article is for informational purposes only and not investment advice.