INSUBCONTINENT EXCLUSIVE:
A big blow was enough to make market fortunes go haywire on Friday
The impact was so intense that key stock indices let go of all their gains made during the week
As a result, the BSE Sensex fell to 35,742 on December 21, from 35,962.90 on December 14, sinking as much as 0.61 per cent
Rising global economic growth concerns and a looming threat of a partial US government shutdown dealt the blow
The NSE Nifty came off 0.48 per cent to hit 10,754 from 10,805 during the same period.
Here are stocks and sectors that made the buzz
during the week gone by.
@fresh 52-week high/lowAs many as 11 stocks on the BSE 500 scaled their fresh 52-week highs
The list included names such as PVR, Bata India, Muthoot Finance, Marico, Avenue Supermart, Colgate-Palmolive, Nestle India, Pidilite, GSK
Consumer Healthcare and Vinati Organics
By contrast, The New India Assurance Company, General Insurance Corporation of India, Narayana Hrudayalaya and The Jammu Kashmir Bank
slumped to their fresh 52-week lows for the week to December 21.
Stocks that rallied up to 35%Navkar Corporation rallied the most -- by 35
per cent -- on the BSE500 during the last five trading sessions
It was followed by Indiabulls Integrated Services (up 27 per cent), Sharda Cropchem (up 22 per cent), Central Bank of India (up 17 per
cent), HSIL (up 17 per cent), Ujjivan Financial Services (up 14 per cent) and Take Solutions (up 12 per cent)
On the other hand, Reliance Communications, APL Apollo, ABB India and Zee Entertainment and Infosys lost 8-10 per cent.
News from IPO
martStudds Accessories, manufacturer of helmets and two-wheeler accessories, has received Sebi approval to float an initial public offer
The company, which had filed draft papers with the market regulator in August, obtained the latter's observations on December 14, latest
data showed.
Sectoral updateAmong BSE sectoral indices, the IT index tanked 5 per cent during
Teck (down 4.90 per cent), Consumer Durables (down 2.47 per cent) and FMCG (down 0.52 per cent) too had a dismal week
On the other hand, BSE Power, Oil Gas, Metal, Realty and Auto gained 0.55-3 per cent.
RCom hits a bumpShares of Reliance Communications
declined 10 per cent after reports that the Department of Telecom rejected the deal to trade airwaves between the Anil Ambani-led company
The scrip slipped to Rs 14.20 on December 21, from Rs 15.80 on December 14.
NDTV gains weightShares of NDTV rallied 10 per cent on Friday
engine Taboola.
Capital push for PSBs The government on Thursday said it will enhance capital infusion in public sector banks to Rs 83,000
crore, taking the total to Rs 1.06 lakh crore for 2018-19
The capital will be pumped in over the next few months, Finance Minister Arun Jaitley said, adding that the move will increase the lending
capacity of public sector banks (PSBs) as well as help some of them come out of RBI's watchlist
The Nifty PSU Bank index gained 1.84 per cent in the past five trading sessions, with Central Bank of India gaining 17.27 per cent,
followed by Bank of India (up 11.25 per cent) and Vijaya Bank (up 10.20 per cent)
Syndicate Bank, Union Bank of India, PNB, OBC and BoB advanced 3-10 per cent.
Rating pain for Zee EntShares of Zee Entertainment cracked
8.55 per cent to Rs 447.30 on December 21, from Rs 489.10 on December 14
The scrip witnessed some selling pressure after BofAML downgraded the stock to 'Underperform'
The financial services company called the stock valuation expensive, given the current slower growth, revising downwards its target price to
ILFS stocks in a sweet spotILFS group companies, including ILFS Engineering and Construction, ILFS Investment Managers and ILFS
Transportation, jumped 27 per cent, 23 per cent and 21 per cent during the week
The group announced its plan to sell equity stakes in its road assets to raise funds
On Monday, Infrastructure Leasing Financial Services (ILFS) group, which sits on a debt pile of about Rs 90,000 crore, said it will sell
equity stakes in its road assets to raise funds
The ILFS board, acting on behalf of its relevant subsidiaries, including ITNL, initiated the process of exploring divestment of ILFS group's
stakes in road assets, the group said in a statement
This was done in order to ascertain market interest and examine feasibility of maximisation of value in an orderly and transparent manner,
