INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Stocks of Indian companies that have high exposure to the UK gained after Boris Johnson won the ‘Brexit Election’
Among the gainers were Tata Motors, Bharat Forge, Motherson Sumi from the auto pack and TCS and Infosys from the IT pack.
Banking stocks,
especially PSU banks, were also in a jubilant mood as most of them ended with handsome gains
Metals also rallied led by Vedanta and Tata Steel.
The 30-share BSE Sensex gained 1.05 per cent or 428 points to 41,009, while its NSE
counterpart Nifty added 114.90 points or 0.96 per cent to 12,086.
"Market continued its winning streak fuelled by trade deal optimism and
positive cues from the UK
Global growth sentiment helped domestic indices to subside weak CPI and industrial data in the near term
Midcap and smallcap stocks also participated in the rally
We believe this potential change in risk appetite may help investors to look beyond the polarised market," said Vinod Nair, Head of Research
at Geojit Financial Services.
Here is the lowdown of the movers and shakers of Friday’s session on Dalal Street:
UK-linked stocks
gainUK-linked stocks gained after Brexit-backing Boris Johnson came back to power with a comfortable win
Tata Motors was up 1.9 per cent to Rs 176.65
Motherson Sumi gained 4.17 per cent to Rs 141.10 while Mastek climbed 5.53 per cent to Rs 378.05.
IDBI to monetise ArcilShares of IDBI Bank
surged 4.34 per cent after a media report said it was in talks to sell stake in asset aggregator Arcil
IDBI Bank, which is backed by LIC, is in talks with the US-based Avenue Capital to sell entire 19.18 per cent stake in India’s oldest
stressed asset aggregator Asset Reconstruction Co of India (Arcil).
YES Bank’s plan ‘B’Shares of YES Bank advanced 2.87 per cent after
ET reported that the lender is seeking exemption from Sebi to raise funds under the qualified institutional placement (QIP) programme as a
backstop for its ongoing plan to sell stake via preferential allotment.
PSU banks take a leapPublic sector banks zoomed with all
constituents of Nifty PSU Bank index ending in the green
Union Bank of India was the biggest gainer, jumping 7.17 per cent
Oriental Bank of Commerce and PNB each added 6 per cent
Nifty PSU Bank index closed up 4.03 per cent at 2,570.
Broader markets in-lineBroader markets indices moved in-tandem with the headline
Nifty Midcap jumped 0.96 per cent to 16,932 while NIfty Smallcap was up 0.84 per cent to 5,652
Nifty 500 gained 0.95 per cent to 9,783.
All sectoral indices end in greenAll sectoral indices on NSE ended with gains
Nifty Metal advanced 2.26 per cent to 2,626 and Nifty Auto added 1.61 per cent to 8,069.
Most active stocksIndiabulls Housing Finance was
the most active stock on NSE in terms of turnover
It was followed by Tata Motors, SBI, TCS and Axis Bank
In terms of volume, Vodafone Idea, YES Bank, Tata Motors, Indiabulls Housing Finance and SAIL were in top five list.
97 stocks give bullish
signalsNearly 100 stocks crossed above MACD Signal line flashing ‘buy’ signal
They include Tata Motors, Vedanta, Trident, Hindalco, Adani Power, Tata Global Beverages, Wipro, NTPC and HDFC Life Insurance
MACD is a momentum indicator
In technical analysis, if a stock crosses above the signal line, it is considered bullish.
