Domestic equity market extended its rally for a second straight session on buying in index heavyweights amid inflows by foreign funds and strengthening rupee.
“Market was rangebound with a positive bias amid strong rupee and inflow of foreign funds. Broadly, the second quarter earnings were tad below the expectation of 15 per cent YoY (Nifty50) and the market has largely factored a gradual downgrade in earnings in the second half of FY19. While investors are looking for major triggers for a decisive up move above 10,700 level, stability in rupee and oil prices will provide direction to the market despite election led uncertainty,” said Vinod Nair, Head of Research, Geojit Financial Services.
Heres a list of stocks and sectors that kept investors busy on Dalal Street in todays trade:
Reliance pips TCS
Shares of Reliance Industries (RIL) advanced 2.79 per cent helping the oil-to-telecom behemoth pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation. The m-cap of RIL stood at Rs 7,14,668.54 crore on Friday as against Rs 7,06,292.61 of the IT major.
Jet Airways continues to fly high
Shares of Jet Airways surged over 8 per cent ahead of a meeting of Tata Sons board, which is likely to discuss buyout of the cash-strapped airline. The scrip rallied 8.07 per cent to Rs 346.85.
End of tariff war?
Telecom players including Bharti Airtel and Vodafone Idea hogged limelight after a media report stating that Reliance Jio is considering tariff hike for prepaid and postpaid customers. Bharti Airtel zoomed 9.81 per cent to Rs 333.60, while Vodafone Idea soared 16.42 per cent to Rs 42.90.
Who moved my Sensex
Reliance Industries, HDFC, HDFC Bank, Bharti Airtel, State Bank of India and TCS contributed the most in Fridays Sensex gain. However, some selling in Yes Bank, Maruti Suzuki, ICICI Bank and Infosys weighed on the index.
Spurt in open interest
Ajanta Pharma witnessed the biggest jump in open interest contracts at 27.20 per cent, followed by SREI Infra (25.72 per cent), Repco Home (24.42 per cent) and Yes Bank (22.80 per cent).
Most active stocks
Vodafone Idea, Jet Airways, Yes Bank, RCom, Infibeam and PC Jeweller were the most active stocks in terms of volume. On the other hand, Jet Airways, Yes Bank, Reliance Industries and ICICI Bank were among the most active scrips in terms of value.
@fresh 52-week high/ low
As many as 8 companies on the National Stock Exchange (NSE) scaled their fresh 52-week high on Friday. Some of the stocks in the list included Atul Ltd, Bajaj Holdings, Divis Labs, ICICI Bank and IOL Chemicals. On the other hand, ABG Shipyard, Accelya Kale Solutions, Dixon Technologies, Hotel Leela Venture and Empee Distilleries scaled their fresh 52-week low.
The BSE Telecom index soared the most 6.27 per cent, followed by TECk (up 1.07 per cent), Healthcare (up 0.51 per cent), FMCG (up 0.47 per cent) and IT (up 0.31 per cent). On the other hand, BSE Metal and Oil & Gas index slipped 1.59 per cent and 0.50 per cent, respectively.
Ignore the selloff in midcaps
If you own midcaps just go to sleep, eat some great food and ignore the selloff. If you do not own the midcaps get interested, see what is there, says value investor Guy Spier in an interaction with ETNow.
On option front, maximum Put open interest (OI) stood at 10,000 followed by 10,200 strike while maximum Call OI was seen at 10,800 followed by 11,000 strike. Put writing stood at 10,600 followed by 10,700 strike while Call writing was seen at 10,800 followed by 10,700 strike which could restrict its upside momentum. Option band signifies an immediate trading range in between 10,550 to 10,800 zones, according to Chandan Taparia, Analyst-Derivatives, Motilal Oswal Financial Services.