Biggest gainers & losers of the day: Future Group stocks rally, Biocon drops 11%

New Delhi: Despite a weak opening, domestic equity markets staged a sharp rebound and kicked off the week on a positive note. Amid the sanctions over Russia following Ukraine invasions, buying in metal lifted the markets up. All eyes are set on India's GDP numbers in the December 2021 quarter.

The 30-share pack Sensex rallied 388.76 points or 0.70 per cent to 56,247.28. Its broader peer, Nifty50, surged 135.50 points or 0.81 per cent to 16,793.90. The broader markets were in line with the headline peers as BSE midcap and smallcap added a per cent each.

Narendra Solanki, Head - Equity Research, Anand Rathi Shares & Stock Brokers said, "Indian markets opened in red tracking global cues as investors continue to monitor Ukraine crisis ripple effects of Russia sanctions. During the afternoon session markets cut most of their losses as key equity benchmarks staged recovery."

Future group stocks were high in demand as Reliance Retail took over its 200 stores. Vadilal Industries and UTI AMC found some buyers. Among the losers, Biocon tumbled after the new deal announcement, whereas Rain Industries fell after Q3 earnings.

Let's have a look at the biggest movers and shakers of Monday's session:

GAINERS
Future Group stocks: Shares of cash strapped group were high in demand among the investors as Reliance took over operations of 200 Future Group's stores. Future Enterprises zoomed over 17 per cent to Rs 9.65, whereas Future Supply Chain Solutions rallied 10 per cent to Rs 67.5.

Vadilal Industries: The ice cream manufacturer rallied 12 per cent to Rs 1,364 as the summer is approaching in north India and investors lapped up the new flavour of the season.

UTI Asset Management Company: The mutual fund player was among the highest in demand among investors as the scrip zoomed 11 per cent to Rs 812 on the back of strong technical set up on the daily charts.

Eveready Industries India: The flagship company of the BM Khaitan Group continued to move higher and gained over 10 per cent to Rs 376.35. The scrip has jumped more than 35 per cent in the last one month.

Shankara Building Products: The retailer of home improvement and building products also continued to advance more than 10 per cent to Rs 738.75 on the back of high demand for infra products. The scrip has gained over 45 per cent in the last one month.

Paisalo Digital: The NBFC added another 9 per cent to Rs 665.95 after the company redeemed BSE-listed Secured Non-Convertible Debentures at par.

LOSERS
Responsive Industries: The manufacturer and exporter of vinyl flooring and synthetic leather tanked about 14 per cent to Rs 162.25 on the back of weak technical set up on the daily charts and profit booking.

Biocon: The drug maker plunged over 11 per cent to Rs 349.95 after its subsidiary Biocon Biologics said it has entered into a definitive agreement to acquire Viatris’ biosimilars assets for $3.34 billion.

Edelweiss Financial Services: The financial services company slumped 8 per cent to Rs 54.65 on the back of weak growth outlook. The scrip has been on a freefall lately, shedding about 22 per cent in the last one month.

Rain Industries: The coal producer tumbled 8 per cent to Rs 183.50 after it reported a net loss of Rs 96.96 crore in the quarter ended December 2021 as against net profit of Rs 306.95 crore during the same quarter previous fiscal.

Carborundum Universal: The Murugappa Group's speciality chemical player slipped 8 per cent to Rs 803.25 following its participation in the Chasing Growth's 2022 Meeting, organised by Kotak Securities Limited on Friday, February 25, 2022.