INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Indian equity benchmarks Sensex and Nifty closed flat on Wednesday as gains in shares of Infosys, ICICI Bank and IndusInd Bank
were offset by losses in HDFC, ITC and Hindustan Unilever.
After opening in positive territory, market witnessed selling amid mild weakness
in global stocks.
However, analysts are of view that markets have nearly factored in fall of Brexit deal as most Asian and European stocks
showed resilience in later part of Wednesday's session.
The absence of any fresh trigger caused market to end lacklustre and upcoming
earnings of Reliance Industries and HDFC Bank may give a direction to market in days to come
Sensex ended 3 points up at 36,321.29, with 13 stocks up and 18 down
The NSE Nifty settled 3.50 points up at 10,890.30 with 22 stocks in green and 28 in red.
Let's take a look at highlights of Wednesday's
session:Sensex movers and shakersYES Bank climbed 2.66 per cent, leading pack of Sensex gainers
It was followed by IndusInd Bank (up 2.02 per cent), Infosys (up 1.38 per cent), ICICI Bank (up 0.68 per cent) and ONGC (up 0.62 per cent)
On flip side, Bharti Airtel (down 1.38 per cent) lost most in Sensex kitty
Vedanta (down 1.33 per cent), Asian Paints (down 1.21 per cent), HCL Tech (down 1.02 per cent) and Bajaj Finance (down 1.01 per cent) were
up next among losers in Sensex kitty.
Graphite India, HEG surge up to 8%Shares of graphite electrode producers, Graphite India and HEG
surged on Wednesday after Japanese graphite electrodes producer Tokai Carbon raised its electrodes contract prices
Graphite India closed day at Rs 752.50, with a gain of 8.33 per cent, whereas HEG closed gained 4.15 per cent to Rs 3,687.85 on BSE.
Merged
entity IDFC First Bank debutsShares of IDFC First Bank, merged entity of Capital First and IDFC Bank, made a positive debut on bourses
The stock opened at Rs 47.05 and closed day at Rs 48.25
The merger between bank and NBFC, announced on January 13 last year, was completed on December 18, 2018.
SBI gains on fundraising planState
Bank of India (SBI) is raising at least $1 billion by selling bonds to overseas investors in what is largest such sale from country since
The state-owned lender is issuing bonds in two tranches, one a three-year and another a five-year, as its seeks to shore up funds in new
The proceeds could go beyond $1 billion if demand is strong
The stock closed with a mild gain of 0.58 per cent at Rs 302.75 on BSE.
Jet sinks on Etihad woesShares of Jet Airways plunged 7.95 per cent
Etihad Airways has offered to invest in debt-laden Indian carrier Jet Airways at Rs 150 per share, along with an immediate release of $35
million after certain conditions are met, CNBC-TV18 reported on Wednesday
Earlier, an ET report suggested that Etihad Airways CEO Tony Douglas has set a slew of tough pre-conditions, which include complete exit of
Naresh Goyal and his family from management of Indian carrier.
Cummins slumps on UBS' bearish outlookCummins India stood among third worst
UBS expects margins of company to contract 90 basis points sequentially in Q3 as against street expectations of margins sustaining at Q2
They also remained concerned on medium-term trajectory, as commercial real estate supply peaks, prolonged liquidity crunch impacts
residential real estate, and manufacturing takes time to recover
The scrip closed 4.15 per cent down at Rs 841.75.
Vakrangee extends winning streak to 5th dayRising for a fifth straight day, shares of
Vakrangee closed 4.91 per cent up at Rs 45.90 on BSE
The stock has been on an upward journey since January 10 after it said government did not find any irregularity in its books
Moreover, launch of Nextgen Vakrangee Kendras has also raised investors interest in stock
The company has launched over 3,300 Nextgen Vakrangee Kendras across India
These outlets are spread across 20 states, over 340 districts and more than 2,000 postal codes of country, of which more than 70 per cent
outlets are from tier 5 and 6 cities
HT Media slips 1% on profit slumpShares of HT Media closed 1.05 per cent down at Rs 47.20 after it reported a 68.66 per cent decline in
consolidated net profit at Rs 42.91 crore for quarter ended December 31, 2018
Its total income stood at Rs 664.89 crore against Rs 681.7 crore in same period a year ago, HT Media said in a BSE filing.
Phillips Carbon
climbs on Q3 profitShares of Phillips Carbon Black closed 2.36 per cent up at Rs 207.80 after it reported a 91 per cent year-on-year jump in
profit at Rs 109 crore for third quarter
The company declared an interim dividend of Rs 3.50 per share
73 stocks signal potential riseMomentum indicator moving average convergence divergence, or MACD, showed bullish crossovers on 73 counters
Among stocks that had bullish crossovers were Wipro, Tech Mahindra, United Breweries, Vardhman Textiles, Kwality and Godrej Agrovet
On other hand, NCC, PFC, IDBI Bank, ICICI Securities and Karur Vysya Bank featured among 62 stocks that showed bearish crossovers on BSE.
