INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Friday's session offered big relief to market participants on Dalal Street as sustained buying across sectors offered the bulls
a booster doze to help regain their control on the market.
A fall in crude oil prices and recovery in the rupee scripted the rise in the
BSE Sensex closed 732 points, or 2.15 per cent, higher at 34,733.
Nifty50 jumped 238 points, or 2.32 per cent, to settle at 10,472, with 46
stocks advancing and four – Tata Consultancy Services, HCL Technologies, Dr Reddy’s Laboratories and Tech Mahindra – declining
Following in the footstep of Sensex, BSE Midcap and Smallcap indices jumped 2.42 per cent and 2.60 per cent, respectively
Gaining and losing on alternate days, the Sensex managed to gain 357 points, or 1 per cent, for the week while Nifty edged up by 156 points
With this, Sensex broke its losing streak of five consecutive weeks
Let’s take a look at highlights of Friday’s session:
Sensex a sea of greenAll stocks, burring Tata Consultancy Services (down 3.10 per
cent), ended the day with gains
Maruti emerged as top gainer, rising 5.89 per cent, whereas Tata Motors (up 0.36 per cent) rose the least
Reliance Industries, HDFC Bank, ITC, HDFC and Kotak Mahindra Bank emerged the top five contributors of the rally in the Sensex.
Rupee full
to actionThe domestic currency rose in the wake of a drop in the dollar and US bond yields
The selling of the US currency by exporters and banks eased crude oil prices in global markets and dollar’s weakness against some
currencies overseas helped the rupee find its footing
At the time of writing of this report, the domestic currency was trading 54 paise higher at 73.58.
Top gainers losers of BSEKothari
Products (19.98 per cent), PG Electroplast (19.96 per cent), India Cements (19.74 per cent), Lincoln Pharma (19.61 per cent), BPL (19.57 per
cent), SVP Housing (19.50 per cent), Arshiya (19.34 per cent), Phyto Chem (India) (18.60 per cent), Sadbhav Engineering (17.89 per cent) and
Vas Infra (17.01 per cent) were the top 10 gainers on BSE, while Binny Mills (down 10.27 per cent), Acme Resources (down 10.11 per cent),
Sungold Media and Entertainment (down 9.98 per cent), Systematix Corporate (down 9.93 per cent), Arihant Foundations (down 9.83 per cent),
Shilchar Tech (down 9.67 per cent), Kaushalya Infra (down 9.60 per cent), Riddhi Corporate Services (down 9.44 per cent), Reliance ETF PSU
Bank BeES (down 8.81 per cent) and Carnation Industries (down 8.67 per cent) were among the top 10 losers.
IT develops a snagThe rupee’s
rise did not go well with some IT stocks as they earn much of their revenues in dollar
A stronger rupee simply means less dollar revenue
TCS, HCL Tech, Mindtree, Mphasis, Tech Mahindra, NIIT Technologies and Tata Elxsi ended the day in the negative zone
Two heavyweights - Wipro and Infosys - managed to settle in the green
The BSE IT index closed the day 0.79 per cent lower at 14,299.14
Spurt in open interestWith a 43.48 per cent change, Karnataka Bank saw biggest spurt in open interest on NSE
It was followed by TCS (27.41 per cent), NIIT Tech (22.90 per cent), Bharti Airtel (21.69 per cent), MRPL (16.75 per cent), Chennai
Petroleum Corporation (16.63 per cent) and Infosys (16.51 per cent), in that order
MACD bullish on 280 countersMomentum indicator moving average convergence divergence, or MACD, on Friday showed bullish crossovers on 280
Among the stocks were Reliance Power, DHFL, Punjab National Bank, MMTC, ICICI Bank, REC, Ruchi Soya Industries, HCC and Karnataka Bank
On the other hand, 11 stocks, including ILFS Transportation, Transgene Biotek, Noida Toll Bridge, Winsome Breweries and Phaarmasia saw
bearish crossovers.
95 stocks in the oversold zone on BSEMomentum oscillator Relative Strength Index, or RSI, showed 95 stocks in the
They included Bombay Dyeing, Central Bank, Arcotech, MPS Infotecnics, Electrosteel Steels and Madhucon Project
Meanwhile, 30 stocks, including Ashari Agencies, Ruchi Infrastructure, Rama Paper Mills, Samtel India, Otco International, Rajasthan Tube
and Apoorva Leasing Finance Investment, entered the overbought zone
RSI considers the speed and direction of a stock’s price movement and measures the stock’s internal strength based on past performance.
