INSUBCONTINENT EXCLUSIVE:
The pain was written all over the stock market's face as benchmark indices Sensex and Nifty tumbled 2 per cent each during the past five
While the BSE barometer took a beating of 738 points to settle at 35,809 for the week to February 15, its NSE counterpart lost 219 points
The pessimism ran so high that the indices could not even manage a single positive close during the entire week
In fact, the Sensex had to put up with its longest losing streak in a year.
No major breakthrough in US-China trade dispute, mixed corporate
earnings as well as a sharp selloff in select heavyweights dealt a blow to risk appetite
Sentiment turned fragile ahead of national elections due by May
Expect volatility to increase further with investors turning cautious
Global developments like Brexit and US-China trade war and also Lok Sabha elections which is due in a few months will decide the trend of
Jani, Head-Advisory, Sharekhan by BNP Paribas.
We will get you a snapshot of top stocks and sectors that buzzed through the whole week
Yes Bank: Yes Bank shot up over 25 per cent this week, becoming the top gainer on the Nifty
provisioning from the RBI norms
However, the RBI has pulled up the private bank and warned of regulatory action for making public its observation, which it said was
Jet Airways: Shares of Jet Airways came alive and climbed 2.99 per cent on Friday after its board approved a bank-led provisional
The scrip gained 3.20 per cent to Rs 232.60 for the week ended February 15.
CG Power: Shares of CG Power and Industrial Solutions on
Wednesday declined over 32 per cent after the company said its consolidated net loss has widened to Rs 150.18 crore for the December quarter
However, the stock pared some losses and settled the week with a loss of 16.80 per cent at Rs 29.30.
A sweet dose: Sugar stocks hogged all
the limelight on Friday after the government hiked the minimum selling price (MSP) of sugar by Rs 2 per kg to Rs 31 to help millers clear
A few sugar stocks made merry
Piccadilly Sugar and Allied Industries rose 10 per cent, Dhampure Speciality Sugars 4.93 per cent, Rajshree Sugars Chemicals 4.72 per cent,
Parvati Sweetners and Power 4.65 per cent and Gayatri Sugars 4.59 per cent
Valley (down 21.30) stood as a top loser in the BSE 500 pack
It was followed by Uflex (down 19.40 per cent), National Aluminium (down 17.80 per cent) and CG Power (down 16.80 per cent)
On the other hand, Dilip Buildcon (up 33.60 per cent), Shankara Building Products (up 27.60 per cent), YES Bank (up 25.10 per cent) and
Redington (India) up 21.50 per cent had a good week.
Stocks @ fresh 52-week lows/highs: As many as 118 stocks of the BSE500 index plumbed
their fresh 52-week lows during the week
Some on the list included Gujarat Narmada Valley, Uflex, Rain Industries, Take Solutions, Natco, Sadbhav Engineering, Magma Fincorp, Tejas
Network and Hindalco Industries
By contrast, Aditya Birla Fashion and Retail, UPL, Wipro, Bata India and Info Edge scaled fresh 52-week highs.
Sectoral update: Barring the
BSE Power index (up 0.19 per cent), others closed in the red for the week under consideration
BSE Oil Gas tanked the most 4.22 per cent, followed by Healthcare (down 3.93 per cent), Telecom (down 3.77 per cent) and Auto (3.59 per
The company came under pressure after it reported 34.39 per cent drop in its net profit at Rs 247.46 crore for the quarter through December
as against Rs 377.14 crore a year earlier
IPO update: Neogen Chemicals has received capital market regulator Sebi's nod to float an initial public offering (IPO)
The stocks are proposed to be listed on the BSE and the NSE.
