Nifty Snaps Three F&O Series Gaining Streak
Closing Bell: Sensex, Nifty Extend Declines On F&O Expiry Day
Indian equity benchmarks extended declines for the third consecutive trading session.
The S&P BSE Sensex fell 0.72 percent to end at 41,163.76 and the NSE Nifty 50 fell 0.72 percent to close at 12,126.55. The broader markets represented by the NSE Nifty 500 Index fell 0.52 percent. Both the 31-stock index and the 50-share gauge logged their steepest fall in 20 days.
The Nifty index’s futures and options series snapped its three months gaining streak in December. Nifty fell 0.17 percent and Nifty Bank fell 0.39 percent.
The market breadth, however, was tilted in favour of buyers. About 948 stocks advanced and 847 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 1.4 percent fall. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 0.84 percent.
Fab Four Stocks Of The Day
- Stock hit upper circuit of 10 percent.
- Shares halted a six-day losing streak.
Mahindra CIE Automotive
- Shares of Mahindra CIE Automotive rose as much as 11.1 percent, the most since Sept. 20, to Rs 179.50.
- “Autoparts maker are rallying on anticipation of a potential scrappage policy being introduced, which was tabled in Parliament last month.” LKP Securities’ analyst Ashwin Patil told Bloomberg.
- Stock rose as much as 4.4 percent to Rs 42.80.
- Fresh longs seen with high open interest of 38 percent.
- Trading volume was 1.5 times its 20-day average.
- Stock rose as much as 3.8 percent to Rs 1,047.70.
- Shares rose for tenth consecutive trading session, their longest gaining streak since listing.
Stocks Moving On Heavy Volumes
- Stock rose as much as 2.9 percent to Rs 350.
- Trading volume was almost 30 times its 20-day average.
- Stock rose as much as 18.9 percent to Rs 55.45.
- Trading volume was almost 14 times its 20-day average.
Gujarat Narmada Valley Fertilisers & Chemicals
- Stock rose as much as 6.4 percent to Rs 177.70.
- Trading volume was almost six times its 20-day average.
- Stock rose as much as 7.2 percent to Rs 303.90.
- Trading volume was almost five times its 20-day average.
Global Markets Update: U.S. Futures Edge Higher
U.S. equity-index futures edged higher with Asian stocks on Thursday as investors looked ahead to the promised January milestone for trade relations between the world’s biggest economies and a hoped-for revival of global growth in 2020.
- Futures on the S&P 500 Index increased 0.1 percent.
- The Shanghai Composite Index gained 0.9 percent.
- The MSCI Asia Pacific Index gained 0.2 percent.
- The MSCI All-Country World Index was little changed.
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Minda Corp Halts Two-Day Fall, Shares Surge The Most In Nearly Two Months
Shares of Minda Corp hated a two-day losing streak and rose as much as 10.6 percent, the most since Oct. 30, to Rs 99.90.
Trading volume was almost six times its 20day average, Bloomberg data showed. Of the shares traded, 49 percent were at the ask price and 45 percent were at the bid.
Jet Airways Hits 5% Upper Circuit For Seventh Day
Shares of Jet Airways hit an upper circuit of 5 percent for the seventh consecutive trading session. The stock surged 40 percent during the period.
“Lenders to Jet Airways (India) Ltd. have decided to seek fresh initial bids for the bankrupt airline, according to an exchange filing on Dec. 23. The grounded airline is undergoing insolvency proceedings at the National Company Law Tribunal and its Committee of Creditors are seeking a buyer to recover dues,” according to PTI report.