INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Friday fiesta! It was literally a tale of two different worlds for the financial markets on Friday.
Even when their global
counterparts struggled to brave trade war concerns, the bulls on Dalal Street went berserk in the last hour of trade to give the indices a
major lift.
The Nifty Bank surpassed the crucial 26,750 mark to perch at 26,766, up 270 points, while the pharma pack added a solid 162
contributing over 200 points to the index's rise
However, Reliance Industries sat out the rally after a stellar run over last few sessions
The stock closed with a 2 per cent cut at Rs 1,012.
Equity benchmarks Sensex and Nifty gained nearly a per cent each to settle at 35,689 and
session:Bajaj Fin pips Axis Bank in m-cap raceThe non-banking financial unit of Bajaj Finserv eclipsed private sector lender Axis Bank in
terms of market capitalisation
Shares of the former settled at Rs 2,338 (up 3.58 per cent)
The Axis Bank stock ended 2 per cent higher at Rs 524, up 2.22 per cent.
Opec to raise supplyOpec moved closer on Friday towards boosting
oil output as Saudi Arabia appeared to have persuaded arch-rival Iran to cooperate after major consumers warned of a supply shortage,
READ MOREBrisk action in IPO MartRITES IPO turned out to be blockbuster, as the issue was subscribed some 66.59 times till 04:30 pm
The issue of Fine Organic Industries was subscribed 8.74 times till the time of writing of this report
Both issues closed for subscription.
Block deal lifts MuthootMuthoot Finance ended nearly a per cent higher at Rs 384.05 apiece after 16
lakh shares changed hands in a single block
RIL shed 2 per cent after 12.4 lakh RIL shares worth Rs 126 crore were traded in multiple block deals on NSE.
Insider trade Raj Kumar Goel,
an employee of Bajaj Electricals, acquired 2,230 equity shares via Esop on June 15, showed BSE data
Kapil Ahuja and Debashis Sarkar, employees of Cipla, disposed a total of 9,428 equity shares between June 18 and 20.
Call/Put writingOn the
options front, maximum Put open interest was at strike price 10,700 followed by 10,600 while maximum Call OI was at 11,000 followed by
There was significant Put writing at 10,700 and 10,800 levels, while Call unwinding was seen at all immediate strike prices
Options data suggested a shift in the trading range between 10,750 and 10,920 levels.
Govt may sell IDBI Bank stake to LICThe government is
likely to sell a part of its stake in IDBI Bank as early as next month and potential buyers include the Life Insurance Corporation (LIC),
As a result, shares of the bank closed nearly 2 per cent higher at Rs 58.80 apiece on NSE.
