Stock Market

After Market: IDBI Bank's spurt, Gallant stock split block deals

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NEW DELHI: After a series of cameo appearances, the bulls finally took the centrestage on Friday, defeating the bears on all fronts. A recovery in the rupee and a bounceback in global stocks lifted investor sentiment on the first day of July FO series.

At close, the SP BSE Sensex stood at 35,423, up 386 points, while NSE’s Nifty50 gained 125 points to shut shop at 10,700. In Friday’s After Market, we bring you -The hot stocks; Scrips in the overbought zone; Volume gainers and New listings on D-Street The hot stocksShares of IDBI Bank zoomed 10 per cent to settle at Rs 54.90 after reports that LIC has inched closer to sealing a deal to acquire a majority stake in the bank.

The life insurer is likely to infuse Rs 13,000 crore in the state-run lender.

READ MOREStock splitShares of Gallant Ispat gained nearly 6 per cent to end at Rs 265.10 apiece on BSE after the company’s board approved a stock split in the 10:1 ratio.

Stocks in overbought zoneTechnical indicator RSI (Relative Strength Index) showed Bang Overseas and NDTV have entered the overbought zone.

On the contrary, a total of 25 stocks such as Dilip Buildcon and Jain Irrigation slipped into the oversold territory. Volume gainersReliance Communications, IDBI Bank, JP Associates, PNB, GMR Infra, Suzlon Energy, Hindustan Construction and Kwality were the most active stocks in terms of volume. New listings on D-StreetShares of RITES and Fine Organic Industries will be listed on the bourses on Monday.

The initial public offerings of both the companies ran from June 20 to June 22.

READ MORERecovery from intraday lowsKolte-Patil recovered 19.93 per cent from day's low to close at Rs 274.65 apiece.

Oriental Hotels and Texmaco Infra rose 19.76 per cent and 12.96 per cent, respectively, from their day’s lows. Block dealsAdani Ports ended almost 3 per cent higher at Rs 372 apiece after 2.7 crore shares or 1.3 per cent equity changed hands in two block deals at Rs 369.80 - Rs 370.05 per share.

Minda Corporation closed 1.60 per cent higher after 1.4 per cent equity changed hands in a block deal on BSE. Spurt in open interestIDBI Bank saw the biggest spurt in open interest at 37.44 per cent, followed by Bata India (31.11 per cent) and Biocon (30.60 per cent).




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