Friday the 13th brings joy for Jaya, Mamata and Sensex
Investors and traders on Dalal Street wrapped their trading desk with an indecisive mood for the week. A promising day, where the market rallied 400 points spurred by sweeping victory of two political queens: Mamata and Jayalalithaa, managed to hold to only half of the gains.
Investors and traders on Dalal Street wrapped their trading desk with an indecisive mood for the week. A promising day, where the market rallied 400 points spurred by sweeping victory of two political queens: Mamata and Jayalalithaa, managed to hold to only half of the gains.
Sensex opened in red but soon recovered its losses and started to build onto its gains led by short covering. The real booster came from Assembly election results and by 2.30 pm, Nifty scaled above 5600. However, the news of a possible third charge-sheet by CBI in 2G row played spoilsport.The Sensex closed at 18531.28, up 195.49 points or 1.07% and the Nifty ended at 5563.80 up 77.65 points or 1.42%. The breadth of the market was encouraging for bulls. About 1634 shares advanced, 1195 shares declined, and 812 shares remain unchanged.The leadership for today's swing came from unlikely names like Jaiprakash Associates and Dr Reddys Labs. The two heavyweights were supported by ITC, Hero Honda, Jindal Steel, Bajaj Auto and Axis Bank. On losing side, Reliance Communications, Infosys, HDFC, Sun Pharma and GAIL closed with marginal losses.Broader markets Midcap gainers: CMC, GSPL, HT Media, Techno Electric and SKS Microfinance surged 5-20%. Midcap losers: Sunteck Realty, KGN Industries, Deccan Chronicle, Phoenix Mills and Patni Computer lost 2-20%. Smallcap gainers: Gemini Communications, English India Clay, Shanthi Gears, Surya Pharma and Supreme Infra gained 8-18%. Smallcap losers: Mandhana Industries, TRF, Excel Crop, Empee Sugars and Marg lost 9-16%.Bull of the day: The Unique Identification Authority of India (UIDAI) is likely to introduce its largest IT contract worth Rs 40,000 crore, reports CNBC-TV18 quoting sources. CMC, a midcap IT company was one of the shortlisted companies and stock zoomed 25% in today's trade.New kid on the block: Pune-based multiproduct engineering company Innoventive Industries disappointed investors on listing day. It closed below its issue price at Rs 102 down 13% compared to issue price of Rs 117.Sectoral check: ITC, Marico, Nestle, HUL and Godrej Consumer sparkled in FMCG space. The index was up 2.35%. Metal index shined with 1.48% gains. Stocks like JSW Steel, Jindal Steel, Bhushan, Sesa Goa and Tata Steel rallied. In the auto space, Amtek Auto, Exide Industries, Hero Honda, Bajaj Auto and Tata Motors were in top gear. Turnover: NSE Cash & BSE Cash segment clocked Rs 10617.92 crore and Rs 2825.76 crore turnovers respectively. NSE F&O segment recorded Rs 159373.79 crore. The total turnover for the day stood at Rs 172817.47 crore.Global Roundup: Asian equities recorded second consecutive week of losses as volatile commodities kept bargain-hungry investors on the back foot while the euro's weakness may snowball before a meeting next week.Crude: Brent crude rose more than $1 to $114.34 a barrel on Friday as the dollar weakened in a day that saw prices swing between gains and losses because of the greenback, while buyers took the opportunity to snap up cargoes on the dips.(With inputs from Reuters) Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
