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After Market: UK-linked stocks, PSU banks rally; 97 stocks give bullish signals

UK-linked stocks gained after Boris Johnson came back to power with a comfortable win.

, ETMarkets.com|
Dec 13, 2019, 05.55 PM IST
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Public sector banks zoomed with all constituents of Nifty PSU Bank index ending in the green.
NEW DELHI: Stocks of Indian companies that have high exposure to the UK gained after Boris Johnson won the ‘Brexit Election’. Among the gainers were Tata Motors, Bharat Forge, Motherson Sumi from the auto pack and TCS and Infosys from the IT pack.

Banking stocks, especially PSU banks, were also in a jubilant mood as most of them ended with handsome gains. Metals also rallied led by Vedanta and Tata Steel.

The 30-share BSE Sensex gained 1.05 per cent or 428 points to 41,009, while its NSE counterpart Nifty added 114.90 points or 0.96 per cent to 12,086.

"Market continued its winning streak fuelled by trade deal optimism and positive cues from the UK. Global growth sentiment helped domestic indices to subside weak CPI and industrial data in the near term. Midcap and smallcap stocks also participated in the rally. We believe this potential change in risk appetite may help investors to look beyond the polarised market," said Vinod Nair, Head of Research at Geojit Financial Services.

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

UK-linked stocks gain
UK-linked stocks gained after Brexit-backing Boris Johnson came back to power with a comfortable win. Tata Motors was up 1.9 per cent to Rs 176.65. Motherson Sumi gained 4.17 per cent to Rs 141.10 while Mastek climbed 5.53 per cent to Rs 378.05.

IDBI to monetise Arcil
Shares of IDBI Bank surged 4.34 per cent after a media report said it was in talks to sell stake in asset aggregator Arcil. IDBI Bank, which is backed by LIC, is in talks with the US-based Avenue Capital to sell entire 19.18 per cent stake in India’s oldest stressed asset aggregator Asset Reconstruction Co of India (Arcil).

YES Bank’s plan ‘B’
Shares of YES Bank advanced 2.87 per cent after ET reported that the lender is seeking exemption from Sebi to raise funds under the qualified institutional placement (QIP) programme as a backstop for its ongoing plan to sell stake via preferential allotment.

PSU banks take a leap
Public sector banks zoomed with all constituents of Nifty PSU Bank index ending in the green. Union Bank of India was the biggest gainer, jumping 7.17 per cent. Oriental Bank of Commerce and PNB each added 6 per cent. Nifty PSU Bank index closed up 4.03 per cent at 2,570.

Broader markets in-line
Broader markets indices moved in-tandem with the headline peers. Nifty Midcap jumped 0.96 per cent to 16,932 while NIfty Smallcap was up 0.84 per cent to 5,652. Nifty 500 gained 0.95 per cent to 9,783.

All sectoral indices end in green
All sectoral indices on NSE ended with gains. Nifty Metal advanced 2.26 per cent to 2,626 and Nifty Auto added 1.61 per cent to 8,069.

Most active stocks
Indiabulls Housing Finance was the most active stock on NSE in terms of turnover. It was followed by Tata Motors, SBI, TCS and Axis Bank. In terms of volume, Vodafone Idea, YES Bank, Tata Motors, Indiabulls Housing Finance and SAIL were in top five list.

97 stocks give bullish signals
Nearly 100 stocks crossed above MACD Signal line flashing ‘buy’ signal. They include Tata Motors, Vedanta, Trident, Hindalco, Adani Power, Tata Global Beverages, Wipro, NTPC and HDFC Life Insurance. MACD is a momentum indicator. In technical analysis, if a stock crosses above the signal line, it is considered bullish.
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