INSUBCONTINENT EXCLUSIVE:
Shares of IIFL Securities hit the 5 per cent upper circuit limit for the second day in a row and stayed there throughout Friday
This followed some share buying by Big Bull Rakesh Jhunjhunwala on the counter.
Shares of InterGlobe Aviation got a boost after the company
announced an extraordinary general meeting in January-end to discuss the internal issues at the company
The stock pared losses and added 2 per cent.
IT shares were among major gainers in an otherwise subdued market, thanks to a fall in the
BSE Sensex slid 162 points for the day to end at 41,464 while NSE barometer Nifty lost 55 points to 12,226.
"Investors turned cautious as
tensions surfaced in West Asia
With the market testing new highs, the flareup in geopolitical tensions could force investors to book some profits
Crude prices could turn volatile due to the risk of possible retaliation by Iran," said Vinod Nair, Head of Research, Geojit Financial
Services.
Here is a lowdown of the movers and shakers of Friday’s session on Dalal Street:
IIFL Securities on a highShares of IIFL
Securities added 4.89 per cent to Rs 47.15 after ace investor Rakesh Jhunjhunwala acquired a stake in the company
The Big Bull bought 27.85 lakh shares of IIFL Securities on Thursday at an average price of Rs 42.83 a share, BSE bulk deal data
showed.
IndiGo flies post EGM noticeShares of InterGlobe Aviation gained 2.10 per cent to end the day at Rs 1,360.95
The stock opened lower but recovered after the company announced an extraordinary general meeting on January 29, raising hope there could
soon be a fix on the internal issues haunting the airline.
DMart promoters to sell sharesPromoters of Avenue Supermarts are likely to
offload 5.20 per cent stake via a block deal
Following the news, the stock gained 1.1 per cent to Rs 1,842.70 on BSE.
India VIX soarsThe flareup in West Asia caused India VIX, the
measure of volatility in the market, to soar 10.26 per cent to 12.67
The index had been quoting at a very low level for weeks now.
IT stocks buck trendIT stocks bucked the trend and surged as the US dollar
grew stronger in comparison to the rupee
Nifty IT index jumped 1.44 per cent to 15,936 thanks to gains in shares of NIIT Tech, TCS, HCL Tech, Infosys, Tech Mahindra and Wipro, which
jumped 1-3 per cent.
Most active stocksReliance Industries was the most active stock in terms of turnover
It was followed by Indiabulls Housing Finance, TCS, Tata Motors and SBI
In terms of transaction volume, Suzlon Energy topped the list, followed by YES Bank, Vodafone Idea, GMR Infra and Tata Motors.
Smallcaps
outperformNifty Smallcap index paused a seven-session winning streak, but still managed to outperform its peers
The index slipped 0.04 per cent to 5,960 while Nifty Midcap index shed 0.57 per cent to 17,291 and Nifty500 lost 0.38 per cent to 9,941.
223
stocks hit upper circuit limitsAs many as 223 stocks hit their upper circuit limits during the day
They included Suzlon energy, Shankara Building Products, Indiabulls Integrated Services, Magma Fincorp, Adani Green Energy, Indiabulls Real
Estate and Jain Irrigation Systems
58 stocks turn overboughtAs many as 58 stocks on BSE turned ‘overbought’ as they crossed above the 70 mark on the Relative Strength
They included Suzlon Energy, Rail Vikas Nigam, Va Tech Wabag, Phillips Carbon, Zuari Global, Rites and Hindustan Oil, among others
RSI is a popular technical indicator that traders use to spot trends
Stocks with an RSI value higher than 70 are considered overbought.