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After Market: YES Bank nosedives; Dish TV, Voda Idea jump; 37 stocks hit 52-week highs

India VIX, the measure of volatility, dived 8.01 per cent to 13.14 during the day.

, ETMarkets.com|
Last Updated: Dec 11, 2019, 06.09 PM IST
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As many as 50 stocks flashed ‘sell’ signals as they crossed below the signal line on MACD indicator.
NEW DELHI: YES Bank continued with its downward journey, plunging 15 per cent on Wednesday after its board meeting on fundraising plans a day earlier ended without any major outcome.

On the other hand, Vodafone Idea shares jumped 2 per cent on reports that the company was looking to raise $2.5 billion. Dish TV also joined on gainers list on merger talks with Airtel TV.

BSE flagship Sensex rose 172.69 points to 40,412 on buying in the last hour. Its NSE counterpart Nifty gained 53.35 points to close at 11,910.

“Nifty and Sensex managed to close higher on the back of specific measures that the government has taken to improve the health of NBFCs and HFCs. The details might come in the evening or on Thursday, but such type of measures always boost the sentiment,” said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.

Here is the lowdown of the movers and shakers of Wednesday’s session:

YES Bank in a freefall
Shares of YES Bank plunged 15.33 per cent to Rs 42.80 a day after its board meeting concluded with no major outcome. In eight trading session in December, the stock has fallen 37 per cent.

Dish TV gains on merger reports
Dish TV gained 2.22 per cent to close at Rs 13.33 as reports suggested that the company is going to merge its operations with Airtel. DTH business of Dish TV India will be hived off and merged with Bharti Telemedia, which houses Airtel Digital TV.

Vodafone Idea jumps
Shares of Vodafone Idea gained 1.98 per cent after reports emerged that the company was looking to raise $2.5 billion by selling its assets. Vodafone has Rs 53,000 crore ($7.5 billion) worth of statutory dues.

Adani Enterprises on a high
Shares of Adani Transmission gained 1.73 per cent to Rs 342 after Qatar Investment Authority agreed to buy a minority stake of 25.1 per cent in Adani Electricity Mumbai (AEML) — an arm of the company.

Volatility eases
India VIX, the measure of volatility, dived 8.01 per cent to 13.14 during the day.

Big Sensex movers
Banks and IT stocks were major contributors to Sensex’s late hour spike. HDFC, Kotak Mahindra Bank, TCS, ICICI Bank and Infosys together added 157 points. Losses in YES Bank, L&T and HUL capped gains.

Most active stocks
YES Bank was the most active stock in terms of turnover on NSE, followed by SBI, Indiabulls Housing Finance, TCS and Reliance Industries. In terms of volume of the transactions, YES Bank was again on top of the list, followed by Vodafone Idea, Dish TV, SBI and Indiabulls Housing Finance.

37 stocks hit 52-week highs
As many as 37 stocks hit their 12-month highs on BSE. They included Divi’s Lab, DLF, Kotak Mahindra Bank, Mauria Udyog, SAR Auto Products, Smart Finsec, Adani Transmission and Abans Enterprises.

50 stocks flash ‘sell’ signs
As many as 50 stocks flashed ‘sell’ signals as they crossed below the signal line on MACD indicator. They included Apollo Tyres, National Aluminium, MMTC, HT Media, EIH, Parag Milk Foods, Inox Wind, Sadbhav Engineering and Vishwaraj Sugar. MACD is a momentum indicator. If a stock falls below the signal line, it is a bearish signal. Conversely, when MACD rises above the signal line, the indicator gives a bullish signal.
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