INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Indian equity benchmarks Sensex and Nifty saw a lacklustre close on Friday after two straight sessions of gains due to a poor
show by Kotak Mahindra Bank, HDFC twins and Reliance Industries
Signs of progress in the ongoing US-China trade talks, however, contained any big damage.
Sensex kept fluctuating between gains and losses
throughout the day, reflecting caution in the wake of a rise in global crude oil prices
Market breadth remained positive as 1,622 stocks advanced on the BSE against 910 decliners while 153 remained unchanged
The BSE barometer closed lower by 27 points, or 0.07 per cent, at 35,871, with 22 stocks in the green, 8 in the red and one unchanged
The Nifty50 settled marginally up by 2 points, or 0.02 per cent, at 10,792, with 33 stocks up and 17 down
Midcaps and smallcaps outsmarted the Sensex as BSE Midcap and Smallcap indices closed up 0.38 per cent and 0.77 per cent, respectively
We walk you through the highlights of Friday's session.
261 stocks signal upsideAs many as 261 stocks showed bullish crossovers on the BSE,
signalling a potential rally for them in the coming session, according to the momentum indicator moving average convergence divergence, or
Among the stocks that saw bullish crossovers were ICICI Bank, Punjab National Bank, HDIL, Strides Pharma, IRB Infrastructure, Mahindra
Mahindra and Rain Industries
Meanwhile, 26 stocks, including Mishtann Foods, Prabhat Telecoms and Laurel Organics showed bearish crossovers.
218 stocks hit upper
circuitsReliance Naval and Engineering, Tata Steel, Kwality and Rain Industries featured among the 218 stocks that hit their upper circuits
On the flip side, Atlas Jewellery India, Tinna Trade, Prakash Steelage and Trejhara Solutions were among 185 stocks that hit their lower
Kotak Bank slips 4%Shares of Kotak Mahindra Bank closed 3.71 per cent down at Rs 1,241.05 after block deals
While the buyers and sellers were not immediately known, BloombergQuint quoting two bankers in the know had earlier reported that ING Group
is looking to sell its stake in the private lender
Dr Reddy's Labs rises 2%Extending the gains to the second consecutive session, shares of DRL climbed 2.01 per cent to close at Rs 2,637.40
after it said the USFDA audit of its Formulations Shrevepmi Plant in Louisiana, USA, has been completed with zero observations.
BEML
shinesShares of BEML jumped 3.99 per cent to close at Rs 817.65 on the BSE after the PSU and the US-based Lockheed Martin Aeronautics
The step opens up avenues for collaboration between the two to explore manufacturing of support equipment opportunities in aerospace, the
company said on Thursday.
JSPL gains cloutShares of Jindal Steel Power gained 2.41 per cent to close at Rs 159.10 after media reports
suggested that the company had emerged as the lowest bidder for 4.5 lakh tonne order from Indian Railways after outbidding ArcelorMittal
The management has refused to comment on the issue
Oversold and overbought stocksMomentum oscillator Relative Strength Index, or RSI, showed 67 stocks in the oversold zone on the BSE
Among them were Kaveri Seed Company, Mirza International, Hathway Cable Data, Richa Industries and Keerthi Industries
On the other hand, Aavas Financiers, Narbada Gems, SPS International and Pioneer Investcorp were among the 31 stocks that entered the
overbought one.
Kotak Bank, Jubilant Food slip below 200-DMAs
JustDial, Kotak Mahindra Bank, Jubilant Foodworks and Vindhya Telelink were
among those that slipped below their 200-DMAs
On the other hand, BEML, Granules India, Reliance Nippon, Sharda Cropchem and Avenue Supermarts were among the ones that saw positive
breakouts and traded above their 200-DMAs
