INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The bulls on Dalal Street signed off the week on a strong note on Friday, as heavy buying in ITC, RIL, ICICI Bank and HDFC twins
lifted benchmark indices to new lifetime peaks
The SP BSE Sensex hit a record closing high for 21st time in 2018, while the Nifty50 hit it for the 15th time
FMCG major ITC alone contributed 129.74 points to the Sensex rally after strong Q1 earnings
At close, the 30-share pack of BSE stood at 37,336, up 352 points, or 0.95 per cent, while the broader Nifty50 of the National Stock
Exchange (NSE) rose 111 points, or 0.99 per cent, to settle at 11,278.
For the week, the former gained 840 points, or 2.3 per cent, while
the 50-share pack surged 268 points, or 2.3 per cent
The stock settled 5.24 per cent higher at Rs 302.20 apiece on BSE.
HDFC AMC IPO a mega hit!The initial public offering of HDFC Asset
Management Company received huge response from investors, as it approached closing of the bidding process on Friday
The issue was subscribed 82.83 times till 4.30 pm, Friday
The IPO, only the second one from the mutual fund industry, received bids for 1,55,76,34,312 shares against the issue size of 1,88,04,290
most active stocks in terms of volume
ITC, Idea Cellular, Reliance Communications, Adani Power, SBI and JP Associates were the most active stocks in terms of value
Bank Nifty hits record highThe banking index gained 228 points, or 0.83 per cent, to settle at a record peak of 27,634.40
interestCholamandalam Investment and Finance witnessed the biggest spurt in open interest at 51.22 per cent, followed by V-Guard Industries
(36.11 per cent), BPCL (29.33 per cent) and Reliance Capital (26.78 per cent)
Call/Put writingOn the options front, maximum Put open interest was at 11,000 followed by 11,200, while maximum Call OI was at 11,500,
There was significant Put writing at 11,200 and 11,000 levels, whereas Call writing was seen at strike prices 11,700 and 11,400.
Biocon
surges 10% post Q1 resultsShares of Biocon rallied as much as 9.81 per cent in intraday trade after the biotechnology major reported a 47
per cent rise in consolidated net profit at Rs 120 crore for June quarter on robust performance across segments
The stock settled 5 per cent higher at Rs 586.85 apiece on BSE.
Stocks are not clothes: MaheshwariStocks are stocks
They are not exactly like family members, but very close to them
So, you can change your stocks, but not very frequently
Of late, the chatter has been whether these handful of stocks are taking the Nifty up and whether smallcaps and midcaps have been
artificially punctured by Sebi
There will always be bits and pieces to every story, said renowned investor Basant Maheshwari
