NEW DELHI: Two steps forward, one step backward!After the SP BSE Sensex logged some 2.5 per cent gain last week, a sudden spike in wholesale price inflation pulled the benchmark indices down over half-a-per cent in Mondays trade.On BSE, metal stocks bled the most, followed by realty and healthcare, as all sectoral indices barring IT ended in the red.
The SP BSE Sensex shed 218 points, or 0.60 per cent, to settle at 36,324 while NSEs Nifty50 slipped below the 11,000-mark to close at 10,937, down 82 points or 0.74 per cent.Herere the movers and shakers of Mondays session- PCJ tanks on buyback withdrawalThe stock tanked 26 per cent after the company withdrew its May 10 proposal to buy back shares worth Rs 424 crore from shareholders.
The stock settled at Rs 89.85 apiece on NSE.
Is there more pain in store Well, at least a rebound does not look imminent.Dr Reddys takes illShares of the drug firm slumped 11 per cent in intraday trade after a US district court granted a preliminary injunction against sale of the generic version of suboxone used for treating opioid dependence.
The stock later pare some of the losses to end at Rs 2,089 apiece, down 9.85 per cent.
LICs Midas touch for IDBI BankShares of IDBI Bank pared most of their losses after the board of LIC approved a proposal to acquire a majority stake in the lender, ETNow reported.
The stock ended 1.48 per cent lower at Rs 56.45 after sliding to Rs 53.30 apiece at one point of the day.
READ MORELook, who just hit 52-week lowAs many as 307 securities hit 52-week lows in Mondays trade.
Notable among them were Andhra Bank, Ambuja Cements, Apollo Micro Systems, Bank of India and BF Utilities.
Steel stocks dentedTata Steel slumped 7 per cent to Rs 519.30 apiece amid reports that China produced a record 80.2 million tonnes of crude steel last month.
Steel prices have been on a downward slope globally due to a glut in lieu of impending tariffs to be imposed on steel imports into the US.
SAIL tumbled nearly 5 per cent to Rs 71.05 on BSE.Call/Put writingOn the options front, maximum Put open interest was at 10,600 followed by 10,700, while maximum Call OI was at 11,000 followed by 11,100.
Meaningful Call writing was seen at 11,000 followed by 11,100 while Put unwinding was seen at all immediate strike prices.
The option band signified an immediate trading range between 10,888 and 11,080 levels.RSI shows 22 stocks are oversoldTechnical indicator RSI (relative strength index) showed some 22 stocks have slipped into the oversold territory, which included names like PC Jeweller, Hathway Cable, Den Networks, NLC India, Kwality and Dhanlaxmi Bank.
On the other hand, two stocks Responsive Industries and Cigniti Technologies have entered the overbought zone.Spurt in open interestDr Reddys witnessed the biggest jump in open interest contracts at 37.89 per cent, followed by PC Jeweller (27.09 per cent) and HUL (25.01 per cent).