After Market: Financial stocks gutted, 400 stocks hit 52-week lows
BSE Sensex swung 1,500 points intraday and NSE Nifty witnessed a movement of 480 points.
Sensex swung 1,500 points intraday, Nifty witnessed a movement of 480 points and the volatility index, India VIX, stood at 9.69 per cent.
Equity benchmarks Sensex and Nifty opened in the positive zone, traded in the green zone during the first half, plunged sharply in the afternoon session and settled after staging a smart recovery.
After falling about 1,128 points intraday, the 30-share Sensex closed at 36,841.60, with a loss of 279.62 points, or 0.75 per cent. Overall, 13 stocks in the index ended the day with gains.
The Nifty50 plunged 368 points intraday and eventually closed at 11,143.10, with a loss of 91.25 points, or 0.81 per cent. Among the 50 stocks in the index, 23 settled in the positive terrain and 27 in the negative zone.
This was the fourth consecutive fall for Sensex and Nifty on a daily basis. Sensex lost 1,249 points, or 3.28 per cent even as Nifty pared 372 points or 3.23 per cent in the last four sessions.
The BSE Midcap and Smallcap underperformed benchmark Sensex and finished the day with a loss of 1.72 per cent and 3 per cent, respectively.
On a weekly basis, Sensex and Nifty fell for the third consecutive week.
Let's walk you through the highlights of today's session:
Most financial stocks suffered terrible losses on Friday. Among the losers, Dewan Housing Finance Corporation (DHFL) (down 42.43 per cent) led, followed by IL&FS Investment Managers (down 16.08 per cent), Crest Ventures (down 14.34 per cent), Coral India Finance & Housing (down 11.62 per cent), The Investment Trust Of India (down 10.61 per cent), Palash Securities (down 10.57 per cent) and SREI Infrastructure Finance (down 10.02 per cent). Analysts said a tight money market and the lack of clarity regarding IL&FS exposure led to the knee-jerk reaction.
YES Bank plunged
Shares of YES Bank plunged 28.71 per cent on BSE on Friday, finishing at Rs 227.05. The stock hit its 52-week low of Rs 210.10 today after the RBI asked its managing director and CEO Rana Kapoor to step down after an extended term till January 31, 2019. The news upset the investors and most top brokerages downgraded the stock after RBI's directive. The market capitalisation of the company plunged by over Rs 22,000 crore today.
Who dragged my Sensex
YES Bank, Kotak Mahindra Bank, Infosys, Maruti and IndusInd Bank stood as the top five drag on Sensex. In terms of percentage fall, YES Bank (28.71 per cent), Kotak Mahindra Bank (3.86 per cent), Adani Ports (2.94 per cent), IndusInd Bank (2.38 per cent) and Maruti (2.04 per cent) remained the top five losers in the index.
On the flip side, ONGC (up 1.95 per cent), Wipro (up 1.38 per cent), ITC (up 1.37 per cent), TCS (up 1.30 per cent) and Asian Paints (up 1.07 per cent) emerged as the top five gainers in the index.
400 stocks at 52-week lows
As many as 400 stocks, including Yes Bank, DHFL, Adani Ports, Jet Airways (India), Apollo Tyres, JK Tyre & Industries and Rane Holdings, hit 52-week lows on NSE. Monnet Ispat & Energy, Deepak Nitrite, Dr. Reddy's Laboratories, JSW Steel, Khaitan Electricals, SPL Industries and Wipro stood among 15 stocks that hit 52-week highs on NSE today.
Most traded stocks
YES Bank (number of shares traded: 29.36 crore) emerged as the most traded stock on NSE, followed by Reliance Communications (15.16 crore), DHFL (11.53 crore), Suzlon Energy (9.37 crore), JP Associates (7.45 crore), Idea Cellular (5.24 crore), GMR Infra (5.07 crore), PNB (5.02 crore), Bank of Baroda (4.66 crore) and Vedanta (4.24 crore).
YES Bank (Rs 7,212.56 crore) led the pack of most active stocks in value terms too. Dewan Housing (Rs 4,388.31 crore), Reliance Industries (Rs 2,332.84 crore), Axis Bank (Rs 1,523.64 crore), Tata Steel (Rs 1,443.16 crore), Bajaj Finance (Rs 1,376.33 crore), Indiabulls Housing Finance (Rs 1,365.03 crore), Maruti Suzuki (Rs 1,334.24 crore), HDFC (Rs 1,180.16 crore) and HDFC Bank (Rs 1,115.10 crore) also featured in the pack of most active stocks in value terms, in that order.
127 counters showed bearish signal
Momentum indicator Moving Average Convergence Divergence (MACD) showed as many as 127 stocks with bearish crossovers on NSE. Among them were JSW Steel, NMDC, Apollo Tyres, Aurobindo Pharma, Can Fin Homes and Jindal Saw. On the other hand, only six stocks - ONGC, Bharti Infratel, Gruh Finance, Asahi India Glass, GlaxoSmithKline Consumer Healthcare and Butterfly Gandhimathi Appliances - showed bullish crossovers on NSE.
Global markets jump
World shares hit their highest levels in over six months on Friday, as investors gravitated to the view that the latest exchange of tariffs between the United States and China may be less damaging than initially feared, Reuters reported. Among Asian peers, China's Shanghai SE Composite Index jumped 2.50 per cent. Hang Seng and Nikkei 225 clocked a gain of 1.73 per cent and 0.82 per cent, respectively.