INSUBCONTINENT EXCLUSIVE:
NEW DELHI: After suffering a massive loss on Tuesday, domestic equity benchmarks Sensex and Nifty staged a strong recovery on Wednesday as
the Reserve Bank of India (RBI) intervened strongly to rescue to rupee
Buildup of fresh positions by domestic institutional investors (DIIs) ahead of July IIP and August CPI data also influenced investor
The market shrugged off weakness in other Asian market to clock significant gains
Chinese stocks touched the January 2016 low as lingering trade war worries hurt investor sentiment
The 30-share Sensex ended the day 305 points, or 0.81 per cent, higher at 37,718, with 18 stocks closing in green
NSE’s Nifty50 advanced 82 points, or 0.73 per cent, to settle at 11,370, with 29 stocks advancing and 21 declining.
Broader midcap and
smallcap indices portrayed a mixed picture
While the BSE Midcap index climbed 0.52 per cent, BSE Smallcap index suffered a loss of 0.27 per cent.
Let's walk you through the highlights
of the day’s trade:Who moved my SensexPowerGrid, with a gain of 3.40 per cent, emerged as the top gainer in the Sensex pack, followed by
ITC (up 3.11 per cent), Sun Pharma (up 2.98 per cent), Adani Ports (up 2.96 per cent) and Hindustan Unilever (up 2.29 per cent)
On the flip side, Axis Bank (down 2.30 per cent) emerged as the top loser, extending its losses to the second consecutive session
Tata Motors (down 1.70 per cent), Bharti Airtel (down 1.28 per cent), ICICI Bank (down 1.07 per cent) and YES Bank (down 0.71 per cent) also
found themselves among the top losers.
Rupee makes sharp recoveryThe domestic currency jumped to 71.91 against the dollar from a record low of 72.91 it had hit in the morning
session after reports emerged that Prime Minister Narendra Modi was to review the economic situation over the weekend and might announce
measures to strengthen the currency
FMCG, metal mining stocks dazzledAfter suffering losses in last two consecutive sessions, FMCG and metal stocks hogged limelight on
Wednesday, with Nestle India, ITC, Hindustan Unilever, Godrej Consumer Products and Dabur surging up to 4 per cent
From the metals space, shares of Jindal Steel, NMDC, Hindalco, Tata Steel, Vedanta and JSW Steel clocked decent gains
Murmur against Kochhar at ICICI Bank AGMShareholders of ICICI Bank at the company’s 24th annual general meeting (AGM) on Wednesday
questioned the veracity of allegations of quid pro quo by CEO Chanda Kochhar and her family members and conflict of interest with respect to
a loan extended to certain entities, including the Videocon group
Kochhar, who is on leave till the completion of an external enquiry into an alleged conflict of interest, did not attend the AGM
MACD bullish on 30 countersMACD showed 30 counters, including Manali Petrochem, Shree Renuka Sugars, PVR, Avanti Feeds and Uttam Sugar
Mills with bullish crossovers on NSE
But, as many as 70 counters, including Tata Steel, Tech Mahindra, Dr
Reddy's Labs and Usha Martin showed bearish crossovers on NSE, signalling that these stocks were readying to fall
Spurt in open interestGodrej Consumer Products witnessed the biggest spurt in open interest at 61.46 per cent, followed by PVR (22.57 per
cent), Repco Home Finance (20.45 per cent), Balrampur Chini Mills (17.27 per cent), Bank of Baroda (15.36 per cent) and Hero MotoCorp (14.70
per cent).
155 stocks at 52-week lowsAs many as 155 stocks, including HPCL, BPCL, Bharti Infratel, InterGlobe Aviation (IndiGo), Indian Oil
Corporation and Can Fin Homes, hit 52-week lows on NSE
On the other hand, only 10 stocks, including Albert David, Alembic Pharmaceuticals, Electrosteel Steels and SORIL Infra Resources, could
manage to hit 52-week highs on NSE
