Webinar :Register now for webinar on 'Trade BankNifty in just 15 minutes a day' - By Asmita Patel
Last Updated : Dec 04, 2019 11:50 AM IST | Source: Moneycontrol.com

D-Street Buzz: YES Bank, Tata Motors jump 3%, ICICI Bank at record high; metals drag

The most active stocks included YES Bank, CSB Bank, Indiabulls Housing Finance, ICICI Bank and Larsen & Toubro.

The Indian stock market is trading flat with Sensex down 9.18 points or 0.02 percent at 40666.27 while the Nifty shed 1.7 points at 11992.50.

Nifty Metal shed half a percent dragged by Tata Steel, JSW Steel, Jindal Steel & Power and Coal India.

From the oil & gas space, the top drags included HPCL and Reliance Industries which shed over a percent each followed by GAIL India and Power Grid.


The top losers from the infra space are Larsen & Toubro, Shree Cements, Indraprastha Gas, Exide Industries and Container Corp.

Nifty PSU Bank is the outperforming sector, up over a percent led by Canara Bank, Union Bank of India, Oriental Bank of Commerce, J&K Bank, State Bank of India, Bank of Baroda and Indian Bank among others.

Shares of Tata Motors gained 6 percent intraday on December 4 after double digit growth in Land Rover lifted overall sales in US. In the November, Tata Motors' subsidiary and UK-based luxury car maker Jaguar Land Rover sold 12,472 units, an increase of 6.2 percent year-on-year.

Kerala-based private sector lender CSB Bank started off the first day at Rs 275 on the National Stock Exchange December 4, a premium of 41 percent over issue price of Rs 195. At 11:42 hrs CSB Bank was quoting at Rs 297.70, up Rs 102.70, or 52.67 percent.

The listing was bang on expected lines given the stellar subscription of 87 times and strong promoter background, experts said.

"Premium listing was justified, assuming turnaround in business efficiency which is expected to further improve going forward, and with overwhelming response to CSB Bank IPO," Prashanth Tapse, AVP Research, Mehta Equities told Moneycontrol.

The top gainers from Nifty index are YES Bank, Tata Motors, ICICI Bank, Adani Ports and Wipro while the top losers included JSW Steel, Larsen & Toubro, Tata Steel, Reliance Industries and Coal India.

The most active stocks included YES Bank, CSB Bank, Indiabulls Housing Finance, ICICI Bank and Larsen & Toubro.

About 970 shares have advanced, 983 shares declined, and 136 shares are unchanged.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Dec 4, 2019 11:50 am