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After Market: Sun Pharma, IndiGo, MSTC on a high; 64 stocks slip below 50-EMAs

Nifty witnessed some profit booking but managed to close above 12,000 for the first time since June.

Last Updated: Nov 07, 2019, 05.26 PM IST
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Among sectors, all but auto ended in the green on NSE buoyed by positive global cues.
Government-owned e-commerce firm MSTC was one of the biggest gainers on the bourses on Thursday, after L&T appointed it its selling agent. The scrip hit the upper circuit limit on BSE.

Sun Pharma was the biggest Sensex gainer after it posted Rs 1,064 crore profit for September quarter. InterGlobe Aviation gained after announcing a codeshare deal with Qatar Airways.

Among sectors, all but auto ended in the green on NSE buoyed by positive global cues, including a visible thaw in US-China trade war. The 50-share Nifty ended 50 points up at 12,016, while its BSE counterpart Sensex rose 183.96 points to end at new lifetime peak of 40,653.

"Nifty witnessed some profit booking at high points, but managed to close above 12,000 for the first time since June. It formed a dragonfly Doji candle pattern on the daily chart. If it manages to go past the 12,025 mark, then we may see a push towards the 12,100-12,200 zone in the near term,” said Rohit Singre, Senior Technical Analyst at LKP Securities.

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

IndiGo-Qatar agreement lift shares
InterGlobe Aviation, operator of IndiGo, gained 1.75 per cent to Rs 1,494.20 on BSE after the carrier announced a codeshare agreement with Qatar Airways.

MSTC rises on L&T’s agency deal
Shares of MSTC zoomed 20 per cent to Rs 147.80 on BSE after the construction & engineering giant Larsen & Toubro (L&T) appointed the company as its selling agent. The company also signed MoU with Burn Standard for e-auction services.

Sun Pharma’s Q2 dose
Sun Pharma was back in black in September quarter posting a consolidated profit of Rs 1,064.09 crore, which was in line with an ETNOW poll projection of Rs 1,074 crore. The stock climbed 3 per cent to Rs 440.45 on BSE.

HPCL takes a hit as profit falls
Hindustan Petroleum Corporation posted a 3.63 per cent year-on-year fall in standalone net profit at Rs 1,052.31 crore for the quarter ended September. The stock ended down 1.12 per cent to Rs 310.30.

Realty stocks pare gains
Real estate stocks soared in the early trade on the Rs 25,000 crore AIF booster from the government but pared gains by the end of the session. Indiabulls Real Estate closed 5 per cent higher at Rs 70.20, followed by Phoenic, which gained 3.2 per cent to Rs 722. Nifty Realty Index ended with gains of 0.88 per cent at 276.45.

Nifty auto sole loser
Most auto sector stocks ended with a cut, bucking the overall trend. TVS Motor was the biggest loser, down 2.24 per cent. Tata Motors, Eicher Motors and Apollo Tyres also joined the losers club. Motherson Sumi was the biggest gainer up 1.4 per cent to Rs 133.65. Exide Industries and Bharat Forge also gained over a per cent. Nifty Auto index shed 0.2 per cent to Rs 8,242.

Volatility level reduces
India VIX, the measure of volatility in the market, dived 4.24 per cent to a comfortable 15.10 level.

Midcaps outperform
Broader market closed in tandem with their headline peers. Nifty Midcap outperformed climbing 0.76 per cent to 16,808. Nifty Smallcap advanced 0.5 per cent to 5,762 thanks to rallies in NBCC (up 9 per cent) and Max Financial (up 8.5 per cent). Nifty 500 was also up 0.5 per cent to 9,768.

64 stocks below 50-EMAs
As many as 64 stocks dived below their 50-day exponential moving average as starting a bearish trend. They include Bank of Baroda, PNB, Union Bank, UPL, Aditya Birla Fashion, Avadh Sugar and Gujarat Alkali, among others. 50-EMA is one of technical indicators that either acts as resistance or support for any security on a technical chart.
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