INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Headline indices Sensex and Nifty reversed the losing run of three sessions on Friday, spurred by healthy gains in bank,
financial, IT and auto stocks, as investors cheered de-escalation of tensions between India and Pakistan.
Speculators raised their bets
across sectors on the first day of March futures and options contracts
A rally in emerging markets also influenced mood
Chinese stocks jumped after MSCI raised their weight in its global benchmarks
Concerns over weak macroeconomic data eased as investors saw a silver lining in subdued GDP and infrastructure output numbers
They hoped that the signs of slowdown in the economy may push RBI to cut interest rate at its next meet
The Sensex jumped 196 points, or 0.55 per cent, to close the day at 36,063.81
IndusInd bank stole the show, advancing 2.94 per cent, followed by Yes Bank and Vedanta
The decliners included Bharti Airtel, Asian Paints, Bajaj Auto, Axis Bank, Reliance Industries and HCL Tech, sliding up to 3.43 per cent
Midcaps and smallcaps stayed ahead of the Sensex, with solid gains, rising up to 2.13 per cent.
NSE's Nifty50 settled higher 71 points,
or 0.66 per cent, at 10,863.50.
For the week, Sensex inched up by 192 points or 0.54 per cent, while the Nifty added 72 points or 0.67 per
cent.
Let's take a look at highlights of Friday's session.
Rs 1.41 lakh crore added to investor kittyFriday's rally in the market made
BSE investors richer by Rs 1.41 lakh crore as the overall market capitalisation of listed firms on the BSE jumped to Rs 1,41,82,750.99 crore
from Rs 1,40,41,530.33 crore on Thursday.
Spurt in open interestReliance Power, with a change of 82.35 per cent, emerged at the top among
the stocks that witnessed the biggest spurt in open interest on the NSE
It was followed by Arvind (71.83 per cent), Reliance Infrastructure (48.36 per cent), Just Dial (44.64 per cent), Oriental Bank of Commerce
(38.76 per cent) and Bharti Airtel (35.14 per cent).
Over 200 stocks hit upper circuitsAs many as 202 BSE stocks, including SML Isuzu,
Religare Enterprises, Shreyans Industries, Star Paper Mills, Forbes Company and Indiabulls Integrated Services, hit their upper circuits
On the flip side, Weizmann, Atlas Jewellery India, Optiemus Infracom and Darshan Orna were among the 162 stocks that hit their lower
115 stocks signal upsideMomentum indicator moving average convergence divergence, or MACD, showed bullish crossovers on 115 counters on the
BSE, indicating that they may climb in coming sessions
Among the stocks that saw bullish crossovers were Engineers India, ITI, Dabur India, Lupin, Repco Home Finance, Mindtree, Dr Reddy's Labs,
JSW Energy and Karur Vysya Bank
On the other hand, Tech Mahindra, Eicher Motors, Asian Hotels (West) and Orient Beverages were among the 22 stocks that showed bearish
New CEO takes charge, YES Bank jumps 3%Shares of YES Bank closed 2.68 per cent higher at Rs 237.40 after Ravneet Gill took charge as
Managing Director and CEO of the bank
His tenure as approved by RBI is 3 years from the date of his joining, i.e
March 1, 2019 to February 28, 2022
Sugar stocks turn sweeterMost sugar stocks jumped higher, a day after India's Cabinet approved a plan to spend up to Rs 1,054 crore to
pay interest on loans to the sugar industry for a year, in a bid to help sugar mills clear their dues to farmers
Dharani Sugars Chemicals (up 9.99 per cent), Sakthi Sugars (up 6.06 per cent), Triveni Engineering Industries (up 5.18 per cent), Indian
Sucrose (up 4.69 per cent) and Thiru Arooran Sugars (up 4.97 per cent) were among top gainers in the sugar space
Airtel falls on EPS worryMarkets reacted negatively to the fund-raising plan of Bharti Airtel as the shares of the company fell 3.43 per
cent to close at Rs 307.05
Analysts say the raised funds will help the company pare its debt, but is not enough for its capex and opex plans
Also, the deep discount given for the right issue will hit the company's investors view for further fund-raising and increase worries on
EPS estimates.
SBI Life Insurance gains 5%Shares of SBI Life Insurance Company settled at Rs 612.25, up 5.47 per cent, after CA Emerald
Investments, an affiliated entity of a Carlyle Group fund, bought 9 per cent stake in the firm
Separately, BNP Paribas Cardif SA cut its stake in the insurer by 9.23 per cent to 12.77 per cent, the company said
Jet Airways jumps 5%Shares of Jet Airways closed 5.32 per cent higher at Rs 234.65 on reports that founder Naresh Goyal had agreed to step
Reuters said Goyal also agreed to reduce his 51 per cent stake in the airline but would continue to be part of the company in some capacity
even after stepping down as chairman.
Auto salesSML Isuzu sold 1,282 vehicles in February 2019 against 965 vehicles in the same month a year
The stock closed 20 per cent up at Rs 682.55
Domestic sales of Mahindra Mahindra stood at 52,915 vehicles, compared with 48,473 units during February 2018
Shares closed the day 0.43 per cent up at Rs 649.35.
Maruti Suzuki India saw a marginal decline in total sales at 1,48,682 units
The company had sold 1,49,824 units in February last year
The scrip closed 1.48 per cent up at Rs 6,933.20
Ashok Leyland saw an increase of 1 per cent in its domestic sales at 17,352 units
Shares of the company closed 0.23 per cent up at Rs 86.55.
Total trucks and buses sales of Eicher Motors came in at 6,268 units against
The scrip settled 0.19 per cent up at Rs 19,938.25
Escorts reported a 12 per cent increase in tractor sales at 7,240 units against 6,462 units in February 2018
Its shares closed 2.35 per cent up at Rs 674.30
Bajaj Auto reported a 10 per cent increase in total sales at 3,93,089 units against 3,57,883 units in the same month last year
The stock fell 1.16 per cent to close at Rs 2,862.90
