Sensex, Nifty Recover From Worst One-Day Fall Since August 2015
Closing Bell: Sensex, Nifty Halt Two-Day Rout As RIL, ICICI Bank Lead
Indian equity benchmarks ended marginally higher after a topsy-turvy session, thus, recovering slightly from the worst single-day rout in nearly five years.
The S&P BSE Sensex and the NSE Nifty 50 ended little changed at 35,697.40 and 10,458.40 respectively.
Earlier today, the 30-stock index swung from a fall of as much as 1.05 percent and rose as much as 1.08 percent, while the 50-share gauge swung from a fall of as much as 1.12 percent and rose as much as 0.9 percent.
The market breadth was tilted in favour of sellers. About 1,036 stocks declined and 774 shares advanced on National Stock Exchange.
Six out of 11 sectoral gauges compiled by the NSE ended lower, led by the NSE Nifty PSU Bank Index’s 3.1 percent fall. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 2 percent.
Large Trade Alert: HDFC Bank
About 16 lakh shares of HDFC Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Fab Four Stocks Of The Day
- Stock rose as much as 14.9 percent to Rs 239.20.
- Management clarified rumors around financial health and stability are misplaced
- Bank says no adverse change in asset quality and guidance remains constant.
- Stock rose as much as 3.6 percent to Rs 1,699.
- Fresh longs seen with high open interest of 21 percent.
Lakshmi Vilas Bank
- Stock rose as much as 4.7 percent to Rs 14.60.
- The lender plans to raise $250-$300mn from overseas investors via sale of 49-60 percent stake in the bank, according to Economic Times report.
IRB Infra Developers
- Stock rose as much as 14.1 percent to Rs 77.90.
- Shares were the top performer on the NSE Nifty SmallCap 100 Index.
- Scrip snapped three-day losing streak.
Stocks Moving On Heavy Volumes
- Stock rose as much as 3.3 percent to Rs 81.50.
- Trading volume was more than 17 times its 20-day average.
- Stock swung from a gain of as much as 2.5 percent to fall as much as 1.8 percent.
- Trading volume was more than eight times its 20-day average.
Mahindra CIE Automotive
- Stock rose as much as 5.9 percent to Rs 128.
- Trading volume was more than six times its 20-day average.
- Stock fell as much as 19.9 percent to Rs 228.30.
- Trading volume was almost six times its 20-day average.
- Stock fell as much as 18.8 percent to Rs 101.
- Trading volume was almost five times its 20-day average.
F&O Check: Nifty 10,500 Call Option Premium Drops 37%
Nifty’s 10,500 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on March 12, fell 36.57 percent to Rs 85.35. About 9.66 lakh shares were added to the open interest which stood at over 15.69 lakh shares.