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Tata Group stocks tumbled on Wednesday after the National Company Law Appellate Tribunal ordered restoration of Cyrus Mistry as Executive Chairman of Tata Sons.
Tata Motors stock, which traded higher all through the session, saw fag-end selling and ended 3.05 per cent lower at Rs 174 on BSE.
Similarly, Tata Steel fell 2.21 per cent and Tata Communications plunged 7 per cent.
Among the top gainers, AXISCADES Engineering Technologies surged 11.15 per cent to Rs 61.30 after the company won an Airbus contract.
The HDFC twins hit all-time highs.
BSE benchmark Sensex gained 206 points to close at a record high of 41,558, while NSE barometer Nifty ended 59.60 points higher at 12,224.
"With the Budget around the corner, the government is planning to steer the ship by bringing measures to boost consumption.
Investors are keenly watching the outcome of the GST Council meet," said Vinod Nair, Head of Research at Geojit Financial Services.
Here is a lowdown of the movers and shakers of Wednesday’s session on Dalal Street:
TaMo plunges on NCLAT orderTata Motors dived and ended 3.05 per cent lower at Rs 174.70 after the National Company Law Appellate Tribunal ordered the restoration of Cyrus Mistry as Executive Chairman of Tata Sons.
The tribunal held the appointment of N Chandra as Executive Chairman illegal.
TaMo was the biggest loser in the Sensex pack.
DHFL gains for 4th sessionShares of Dewan Housing Finance Corporation (DHFL) gained 5 per cent to Rs 16.95 after the company’s bonds resumed trading for the first time since the company was admitted to bankruptcy court.
This is the fourth straight day the stock has risen.
AXISCADES bags Airbus contractShares of AXISCADES Engineering Technologies surged 11.15 per cent to Rs 61.30 after the company won an Airbus contract to work on fuselage, product development and customer support services across different Airbus locations.
HDFC twins hit 52-week highsHDFC twins, i.e.
HDFC Bank and HDFC, were among the 50-odd stocks that hit their 52-week highs during the session.
These two also hit their all-time highs.
Among others that kissed their 12-month highs were Bajaj Finserv, Balrampur Chini, JK Cement, Max Financial Services and Mahanagar Gas.
PSU banks biggest losersNifty PSU Bank index was among the biggest sectoral losers on Dalal Street dragged by Bank of Baroda, which dipped 3.13 per cent to Rs 99.
Union Bank of India that slipped 2.58 per cent to Rs 56.75 and Canara Bank that skid 2.44 per cent to Rs 223.50 were among other major drags.
10 out of 12 constituents of the index closed in the red.
The index was down 1.89 per cent to 2,518.
Broader market in the redBroader market indices ended in the red as Nifty Smallcap index slipped 0.08 per cent to 5,685.25 and Nifty Midcap shed 0.32 per cent to 16,884.
Nifty500 ended 0.35 per cent higher at 9,865.
Most active stocksTCS was the most active stock on NSE in terms of turnover.
It was followed by Tata Steel, HDFC, Tata Motors and HDFC Bank.
In terms of value, Vodafone Idea topped the list followed by YES Bank, Tata Motors, Tata Steel and SAIL.
22 stocks give ‘sell’ signalsAs many as 22 stocks flashed ‘sell’ as they crossed below the signal line on MACD indicator.
They include Tata Global Beverages, Biocon, SpiceJet, Minda Corporation, Galaxy Surfactant, Astral Poly Technik, Somany Ceramics, Welspun Corp and Sundaram Finance among others.
MCD is a momentum indicator used in technical analysis.
Stock Market
After Market: Tata Motors dives, HDFC twins at lifetime highs; PSU banks biggest losers
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