INSUBCONTINENT EXCLUSIVE:
NEW DELHI: A sharp bout of short covering in bank, financial, auto, IT, FMCG and metal stocks in the second half of the session helped
reports that the government has decided to rescue the cash-strapped Infrastructure Leasing Financial Services (ILFS) by superseding the
board of the company and changing the company management
The report infused positive sentiment in the equity market
Reports that Reserve Bank of India (RBI) would buy Rs 36,000 crore worth of government bonds under its open market operations (OMOs) this
month - a move aimed at easing liquidity conditions in the market - also helped sentiment.
At the macro front, the Nikkei India
The print came in at 52.2 for September, up from 51.7 in August
In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
Global cues also eased after the US and
Canada agreed to move ahead with the revamped NAFTA
Optimism about a reconstituted free trade agreement among the US, Canada and Mexico and what it could mean for trade relations elsewhere
helped world markets kick off the fourth quarter of the year on a positive note, Reuters reported
The 30-share Sensex closed 299 points, or 0.83 per cent, higher at 36,526 with 22 stocks ending in the green
Smallcap indices trailed Sensex on Monday, closing 0.53 per cent higher and 0.25 per cent down, respectively
Bank, SBI and HUL contributed most to the rally in Sensex
In terms of percentage gains, YES Bank (9.68 per cent), TCS (3.26 per cent), HDFC (3.16 per cent), SBI (3.04 per cent) and ICICI Bank (3 per
cent) led the Sensex gainers.
YES Bank snaps two-session losing streakShares of YES Bank clocked strong gains after it released its
unaudited financial results for the quarter ended September 2018
The company registered 41 per cent year-on-year rise in deposits at Rs 2.23 lakh crore in Q2FY19, while the Casa ratio grew 28.20 per cent
Bandhan Bank hit record lowShares of Bandhan Bank hit a lower circuit limit of 20 per cent at Rs 451.20 after RBI last week restricted the
lender from opening branches freely and froze remuneration of founder managing director Chandra Shekhar Ghosh at the existing level
RBI punished the bank for failing to reduce promoters' stake to below 40 per cent and told the lender to take prior permission before branch
In an attempt to assuage investors, the bank said it would explore inorganic route to pare promoter stake
ILFS group stocks gainShares of ILFS group of companies clocked robust gains
Shares of ILFS Engineering and Construction Company (up 20 per cent), ILFS Transportation Networks (up 19.51 per cent) and ILFS Investment
Managers (up 10 per cent) settled up to 20 per cent higher
Shares of the companies jumped on reports that the government decided to supersede the ILFS board and change the company management
The net-owned funds of the finance company have been wiped out
The ILFS group has a total debt obligation of over Rs 90,000 crore, of which bank loans account for Rs 57,000 crore, mostly from state-run
Airline stocks plungedAviation stocks TAAL Enterprises (down 4.99 per cent), Global Vectra Helicorp (4.93 per cent), Jet Airways (down 4.74
per cent), SpiceJet (down 3.96 per cent) and IndiGo (down 2.16 per cent) plunged up to 5 per cent hit by a hike in jet fuel prices
As per a report in TOI, oil companies increased jet fuel prices by 7.3 per cent on Monday
A kilo-litre (1,000 litres) of aviation turbine fuel (ATF) will cost Rs 74,567 and Rs 74,177 in Delhi and Mumbai this month respectively, up
from Rs 69,461 and 69,161 in September
Firming global crude oil prices is the main reason behind the price hike in Jet fuel by oil companies
1,62,290 units against 1,63,071 units sold in the year-ago period
Shares of the company closed at Rs 7,465.30 apiece, up 1.56 per cent, on BSE
Royal Enfield, the two-wheeler division of Eicher Motors, reported a 2 per cent growth in total sales at 71,662 units in September
Eicher Motors shares closed the day 2.79 per cent higher at Rs 24,838.70 on BSE.
Tata Motors reported a 20 per cent rise in domestic sales
in September at 64,520 units compared with 53,964 units sold in the same month last year
The stock closed 2.60 per cent higher at Rs 229.25 on BSE
Shares of MM fell 1.52 per cent to Rs 847.60 after the company said its tractor sales declined 18 per cent to 37,581 units in September
However, the company reported a 2 per cent rise in total sales at 55,022 units in September.
Bajaj Auto climbed 1.59 per cent to Rs 2,729.75
after the company reported 17 per cent increase in total sales to 5,02,009 units for September as against 4,28,752 units in the same month
Escorts reported a 2.5 per cent rise in tractor sales to 10,617 units in September and the stock closed 1.98 per cent higher at Rs 623.05 on
Ashok Leyland reported 26 per cent rise in September sales at 19,373 units and the stock closed at Rs 119.85, with a gain of 0.67 per
cent.
Over 650 stocks touched 52-week lowsAs many as 676 stocks touched 52-week lows on NSE
However, many of them recovered later and settled with gains
Eicher Motors, Escorts, Hero MotoCorp, Maruti Suzuki India, Tata Motors, Asian Hotels (East), Allahabad Bank, Apollo Tyres, Arvind, Avanti
Feeds, Bank of Baroda, Bandhan Bank, Ceat, Central Bank of India, Dilip Buildcon, Prataap Snacks, GIC Housing Finance and Indiabulls Real
Estate featured among the stocks that touched 52-week lows before bouncing to log gains
On the other hand, only seven stocks - Monnet Ispat Energy, Gangotri Textiles, Infosys, DSP Liquid ETF, Prakash Steelage, Ruchi
Infrastructure and Spacenet Enterprises India - touched their 52-week highs on NSE.
