INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Barring a few hiccups at an early stage, healthy buying in banks, FMCG, IT and auto counters saw equity benchmarks Sensex and
Nifty snap their three sessions of losing streak on Monday
Better global cues and soft crude oil prices globally nudged participants to go in for more buying
Turning choppy during the first half of the session, Sensex built up gains in the second half, in line with a rise in European stocks
Investors now await key domestic as well as global macro numbers slated for this week
All eyes are also on what happens during Trump-Xi meet at the G20 summit in Argentina later this month
Registering a decent gain of 373 points, or 1.07 per cent, the BSE Sensex closed at 35,354.08
Hero MotoCorp was the winner of the day, up 5.02 per cent
Hindustan Unilever (up 4.21 per cent), Wipro (up 3.76 per cent), Asian Paints (up 2.72 per cent) and Axis Bank (up 2.69 per cent), too,
clocked handsome gains.
YES Bank (down 3.89 per cent), ONGC (down 3.58 per cent), Sun Pharma (down 2.88 per cent) and Vedanta (down 1.90 per
cent) ended up on the losing side.
Midcaps and smallcaps failed to follow benchmark Sensex as BSE Midcap and Smallcap indices settled 0.06
per cent up and 0.15 per cent down, respectively.
The Nifty50 closed the day at 10,628.60, with a gain of 102 points or 0.97 per cent
We take you through the highlights of Monday's session.
Rs 79,000 crore createdMonday's rally made BSE investors richer by Rs 79,093
crore cumulatively as the overall market capitalisation of BSE listed firms rose to Rs 1,41,25,001.70 crore from 1,40,45,908.35 crore on
Stocks updateShares of YES Bank fell about 7 per cent intraday, but recovered slightly to close at Rs 187.95, down 3.89 per cent on BSE
after ETNow reported, quoting sources, that a promoter of the private lender has prepaid Rs 200 crore each of non-convertible debentures
(NCDs) held by Reliance Mutual Fund and Franklin Templeton.
Jet Airways (India) fell 1.98 per cent to Rs 302.70 amid reports of beleaguered
airline's poor financial health
Media reports suggested founder chairman Naresh Goyal is likely to rope in Etihad Airways to further invest in its equity in a bid to
overcome the financial crisis that is currently enveloping his airline.
Shares of Oil India fell 2.24 per cent to Rs 200.40 after rating
agency Moody's said the company's share buyback plan was credit negative
Moody's said on Friday that Oil India's proposal to buy back shares worth around Rs 1,086 crore ($153.80 million) was credit negative
Shares of Bharti Airtel logged a decent gain of 1.84 per cent, settling at Rs 334 after the telecom giant said its Africa arm had appointed
eight global banks including JP Morgan, Citigroup and Goldman Sachs to work on its initial public offer plan on an international stock
exchange.
Sun Pharma in a BSE filing today said it had entered into a definitive agreement to acquire Pola Pharma in Japan
Shares of the company closed 2.88 per cent down at Rs 510.65
Spurt in open interestShriram Transport Finance Company witnessed the biggest spurt in open interest at 46.50 per cent on the NSE, followed
by Pidilite Industries (39.85 per cent), Marico (33.70 per cent), Godrej Consumer Products (33.39 per cent) and Havells India (32.93 per
Over 150 stocks plumb 52-week lowsDefying the positive market sentiment, as many as 152 stocks, including Vedanta, BASF India, CARE
Ratings, Finolex Cables, Honda Siel Power Products and Hexaware Technologies, touched their 52-week lows on the BSE
Meanwhile, 42 stocks, including Hathway Bhawani Cabletel Datacom and Atul, hit 52-week highs.
Rupee breaks 7-session winning runSnapping
the winning streak of seven consecutive sessions, the domestic unit settled 17 paise lower at 70.8675 against the dollar after the greenback
steadied slightly on some buying by banks and importers
Overbought oversold stocksMomentum oscillator Relative Strength Index, or RSI, showed 53 stocks in the oversold zone on the BSE
Among the oversold stocks were Indosolar, Gitanjali Gems, Alchemist, Ashari Agencies and Dhanada Corporation
On the other hand, 43 stocks such as Urja Global, Adani Transmission, Alexander Stamps, Darjeeling Ropeway and Chemcrux Enterprises featured
among the overbought stocks, as per the RSI.
MACD shows bearish signal on 134 countersMomentum indicator moving average convergence
divergence, or MACD, showed bearish crossovers on 135 counters on BSE
The stocks that showed negative crossovers included SREI Infrastructure, NHPC, YES Bank, Delta Corp and Siemens
However, South Indian Bank, Bharti Infratel, Exide Industries, Balkrishna Industries and Info Edge (India) were among the 51 stocks that
showed bullish crossovers on the BSE.
HCL Tech, Exide Industries above 200-DMAHCL Technologies, Exide Industrie, Canara Bank, Gangotri
Textiles and Ruchi Infrastructure witnessed positive breakouts and traded above their 200-DMAs
On the flip side, Biocon, Bosch, Page Industries, Welspun India and NHPC traded below their respective 200-DMA today.
Call/put writingThe
Nifty managed to recover sharply from lower levels and settle at 10,628
"On the options front, maximum Put open interest stood at 10,500 level followed by 10,000 while maximum Call OI was at 10,700 followed by
Meaningful Put writing was seen at strike price 10,500 followed by 10,600 whereas Call unwinding was seen at all immediate strike prices,"
said Chandan Taparia of Motilal Oswal Securities.
Nifty forms Hammer candle The Nifty formed a Hammer candle on the daily chart, suggesting
that every selling was bought into
The index has its upside capped in the 10,740-10,775 zone, as the advance-decline ratio needs to be improved for further strength
It found support at the lower end of this pattern at 10,500 and then went on to confirm a breakout at the higher end i.e
