Market Movers: Future Group twins locked in the upper circuit in todays session

Future Retail and Future Consumers continue to witness positive action.

As weakness in global counters cast spell on Indian markets, all sectors closed in red with IT, Oil & Gas, Energy and Finance taking the maximum beating. 

At the closing bell on June 9, the Sensex closed with a loss of 1.8 per cent or 1016.84 points to close at 54,303.44, while the Nifty index shed 1.7 per cent or 276.30 points at 16,201.80. 

Future Retail Ltd was among the top gainer among BSE “A” Group while it was locked in the upper circuit of 5 per cent in today’s session at Rs 8.07. The stock logged its fresh 52-week low on June 7 at Rs 6.33. It has witnessed renewed action after hitting the lows and has surged 20.87 per cent from June 7 to date. The bankruptcy-driven future group company has eroded a major chunk of shareholder's wealth as it is the scapegoat of the power play between Amazon and Reliance Industries.  

  Future Consumer Ltd was also locked in the upper circuit in today’s session and closed at Rs 2.26. The stock logged a 52-week low in yesterday’s session at Rs 2.01 and today it rallied 5 per cent in morning trades and was locked in the upper circuit for rest of the day. With its 52-week high of Rs 11.92 almost a year ago the stock is trading at an 80 per cent discount.