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After Market: Smallcaps surge; RIL, YES Bank plunge; 31 stocks give ‘sell’ signal

Realty was the only one that ended with gains on NSE, adding 1 per cent. Nifty PSU Bank was the biggest loser.

, ETMarkets.com|
Nov 29, 2019, 05.08 PM IST
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Here is a lowdown of the movers and shakers of Friday’s session on Dalal Street:
Bharti Infratel, which has had a stellar week, gained further 7 per cent on Friday to log the best weekly gain since listing. ICICI Securities gained 5 per cent, as it settled a case with Sebi.

YES Bank slipped ahead of the outcome of its board meeting. Edelweiss had upgraded the scrip to ‘buy’ this morning with a price target at Rs 101.

Among various sectors, realty was the only one that ended with gains on NSE, adding 1 per cent. Nifty PSU Bank was the biggest loser.

BSE flagship Sensex fell 336 points to 40,793. Its NSE counterpart Nifty shed 95 points to close at 12,056. Broader market indices, however, closed with gains, as Nifty Midcap index edged higher by 0.06 per cent and Nifty Smallcap index 0.94 per cent.

"Profit booking ahead of economic data and selling pressure in other Asian markets due to a risk of retaliation from China added volatility to the market. The recent rally has lifted the market to supreme valuation, which may limit the headroom for the key indices to perform well in the short term,” said Vinod Nair, Head of Research at Geojit Financial Services.

The investors are likely to shift focus to quality midcap and smallcaps, which should outperform in the near term.

Here is a lowdown of the movers and shakers of Friday’s session on Dalal Street:

Bharti Infratel leapfrogs
Bharti Infratel recorded its best week since listing as it gained 19 per cent in five sessions. On Friday, it was the biggest Nifty gainer to end 6.7 per cent higher at Rs 273.80.

YES Bank slips as board meets
Shares of private lender YES Bank slipped 2.5 per cent to Rs 68.30 as the lender’s board met to consider offers from investors. The private bank is in the process of raising Rs 8,000 crore from the market by issuing fresh equity. It was the biggest loser in the Sensex pack.

HCC gains on winning case in SC
Hindustan Construction Company (HCC) share price rose 3.94 per cent to Rs 11.62 after the company won a challenge in the Supreme Court to set aside Section 87 of the Arbitration and Conciliation Act. The company will now be able to execute awards worth Rs 1,584 crore.

ICICI Sec bounces after settling with Sebi
Shares of ICICI Securities settled 5.17 per cent higher on BSE after the company settled a case with the market regulator SEBI. ICICI Securities paid Rs 28 lakh as a settlement charge in a case of an alleged violation of stockbroker norms.

RIL proves biggest drag
Reliance Industries, which hit the Rs 10 lakh crore mark on Thursday, proved the biggest drag on Sensex, bleeding 89 points. ICICI Bank (45 points), HUL (45 points), SBI and TCS (25 points each) were key drags on the index.

Smallcaps shrug Nifty trend
Smallcap index was an outlier as it ended with gains when headline peers faltered. The Nifty Smallcap index gained 0.94 per cent to 5,814, while Nifty Midcap edged 0.06 per cent higher to 17,222. Nifty 500 closed 0.57 per cent lower at 9,813.

Realty sole gainer
Nifty Realty index was the biggest sectoral gainer on NSE, adding 0.98 per cent to 282. It was pushed by gains in Sunteck Realty (up 3.4 per cent), Brigade Enterprises (2.07 per cent) and Prestige Estate (2.04 per cent). Nifty PSU Bank was the biggest sectoral loser, down 1.73 per cent.

Most active stocks
Indiabulls Housing Finance was the most traded security on NSE in terms of value. It was followed by YES Bank, Bharti Infratel, Reliance Industries and Adani Ports. In volume terms, YES Bank topped the charts, followed by Vodafone Idea, Indiabulls Housing Finance, Dish TV and IDFC First Bank.

31 stocks give ‘sell’ signal
As many as 31 stocks flashed ‘sell’ as they crossed below the signal line on MACD. They include Zee Entertainment, Axis Bank, HDFC AMC, Munjal Auto, Andhra Sugars and Cummins India, among others. MACD is a momentum indicator which if falls below the signal line, it is a bearish signal. Conversely, when the MACD rises above the signal line, the indicator gives a bullish signal.
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