INSUBCONTINENT EXCLUSIVE:
Clearly, the heat on stocks is on
The trade contagion is spreading like wild fire
US President Donald Trump is turning up the rhetoric with his latest tariff threat on Chinese imports.
The domino effect is there to see
Domestic equities logged their first weekly loss in three weeks
Domestic macros are sending bearish signals
The rupee is taking a tumble though Friday was a little respite that offered cold comfort
FIIs are pulling out in hordes.
The Sensex slipped 0.12 per cent to 36,494 for the week ended July 20
The index reading was at 36,542 on July 13
Similarly, the NSE Nifty dipped 0.08 per cent to 11,010 from 11,019 during the same period
Below are the top stocks and sectors that buzzed through the whole week.
Stocks that rallied up to 24%As many as five stocks on the BSE500
index managed to deliver over 10 per cent returns to investors during the week gone by
The list featured stocks such as Adani Power (up 24.18 per cent), 3M India (16.72 per cent), Bajaj Finance (10.61 per cent), Sterlite
Technologies (10.06 per cent) and Indraprastha Gas (10.06 per cent).
30 scrips that crackedMore than 5 per cent of stocks on the BSE500
plunged in double digits during the past five trading sessions
PC Jeweller melted 32 per cent, followed by Dilip Buildcon (20 per cent), Ashok Leyland (19 per cent), Kwality (17 per cent) and Inox
firms that went down over 10 per cent during the week.
IPO updateThe initial public offering (IPO) by women's apparel maker TCNS Clothing,
which hit the capital markets on July 18, got oversubscribed 5.27 times on the last day of bidding on Friday
The Rs 1,125-crore public offer received bids for 5,79,79,780 shares against the total issue size of 1,09,99,828, data available with the
The category reserved for qualified institutional buyers (QIBs) was subscribed by over 13 times
Now, IPO of HDFC AMC will be open for subscription on July-27.
Brokerages back Kotak Bank, post Q1Top global brokerages remained upbeat on
Kotak Mahindra Bank, post its June quarter financial results
The private lender on Thursday posted 12.29 per cent jump in standalone net profit at Rs 1,024.94 crore for April-June
The figure was Rs 912.73 crore in the corresponding period of the previous fiscal
Shares of the private lender, however, closed at Rs 1,333.50 on Friday, down 5.08 per cent against Rs 1,404.90 on July 13.
Running out of
steamBajaj Auto came off more than 8 per cent on Friday after the company reported lower than expected results for Q1 FY19
The two-wheeler maker reported a 20.71 per cent rise in standalone net profit for the quarter to June
The Q1 profit figure stood at Rs 1,115.23 crore against Rs 923.93 crore in the same quarter last year
ETNow poll had predicted a net profit of Rs 1,249 crore for Bajaj Auto in April-June.
New axle load norms hit CVsFor the week ended July 20,
shares of commercial vehicle makers, led by Ashok Leyland, slumped up to 19 per cent after the government brought in new axle norms for load
carrying capacity that experts said could hurt demand
Escorts plunged nearly 7 per cent while Tata Motors declined 4 per cent
The load carrying capacities of heavy vehicles, including trucks, have been increased by 20-25 per cent at par with global standards, Road
Transport Minister Nitin Gadkari said on July 17
"We believe the Street is overly concerned about the new load-per-axle norms
Demand in the near term is thus likely to be subdued due to confusion around the applicability and implementation of norms," Edelweiss
Research said in a report.
Stocks @fresh all-time highAs many as 22 stocks on the BSE500 hit their fresh all-time highs during the week
The list included some of the blue-chip stocks such as Reliance Industries, Infosys, Bajaj Finance, HDFC Bank, Tata Consultancy Services
(TCS), HDFC and Kotak Mahindra Bank
Britannia, Nestle, HEG, Bajaj Finserv, Jubilant Foodworks and Asian Paints also scaled new life peaks.
Scrips at fresh life lowsOn the
BSE500 index, Advanced Enzyme, Manpasand Beverages, Inox Wind, Housing Development Infrastructure, Bank of Maharashtra, Reliance Naval,
IDFC Bank and Reliance Power reeled and touched new all-time lows.
Sectoral updateSector-wise, the BSE Oil and Gas as well as IT indices
rallied more than 1 per cent during the week
However, the BSE Metal, Realty, Healthcare, Auto and Capital Goods indices weakened up to 5.94 per cent.
On a rollTyre firm Ceat rallied
over 7 per cent on Friday after the company reported a multi-fold increase in consolidated net profit at Rs 71.44 crore for the June quarter
This compares with Rs 1.37 crore in the year-ago period
The tyremaker rode on robust demand from commercial vehicle makers.
