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After Hours: Key Sensex movers; bearish signals on 110 stocks

NEW DELHI: Key equity indices Sensex and Nifty finished Mond..

NEW DELHI: Key equity indices Sensex and Nifty finished Monday's session with healthy gains, buoyed by stellar show of index heavyweights, including Reliance Industries, ITC and HDFC Bank.

Extending gains for the third consecutive day, Nifty topped its 200-DMA of 10,730, signalling more upside in coming days as Dalal Street experts believe the index may move another 2 per cent after a clear breakout above 10,750 level.

The Nifty50 ended with a gain of 81 points, or 0.76 per cent, at 10,763.40, with 37 stocks settling with gains and 13 with losses. The 30-share Sensex finished 318 points, or 0.90 per cent, up at 35,774.88, with 24 stocks in the green.

Market sentiment remained positive throughout the day on buying in all sectors even as participants eyed the outcome of RBI board meet that was to discuss issues ranging from liquidity crunch in NBFC space to lending rules for banks.

Firm global cues and the rupee's rise against the US dollar also boosted sentiment.

We walk you through the highlights of Monday's session:

Who moved my Sensex?
Reliance Industries, ITC, HDFC Bank, YES Bank, Larsen & Toubro and Tata Consultancy Services emerged as the top contributors to the rally in the Sensex kitty of stocks. The top five drag included ICICI Bank, State Bank of India, ONGC, Axis Bank and Asian Paints. YES Bank closed 7.19 per cent up, leading the pack of volume gainers in the index.

YES Bank surges
Shares of YES Bank closed the day at Rs 205.05, up 7.19 per cent as a search panel entrusted with finding Rana Kapoor's successor to lead YES Bank has shortlisted multiple names. The names that are doing the rounds for next YES Bank CEO included Zarin Daruwala (CEO, Standard Chartered Bank), P S Jayakumar (Managing Director and chief executive officer, Bank of Baroda), V Srinivasan (Deputy managing director, Axis Bank), Pralay Mondal (Senior Group President of Retail & Business Banking, YES Bank) and Rajat Monga (Senior Group President & CFO, Yes Bank).

Oil & gas lone sectoral loser
The BSE Oil & Gas index emerged as the lone sectoral loser owing to losses in shares of GAIL (down 2.11 per cent), Castrol India (down 1.75 per cent), ONGC (down 1.37 per cent) and IGL (down 0.60 per cent). The index closed at 13,600.44, down 0.21 per cent. Gains in RIL (up 1.96 per cent), Oil India (up 0.93 per cent), HPCL (up 0.53 per cent) and BPCL (up 0.45 per cent) capped the losses of the index.

Spurt in open interest
With a change of 80.79 per cent, Jet Airways witnessed the biggest spurt in open interest on NSE. It was followed by Siemens (45.87 per cent), Oil India (17.59 per cent), HCC (16.37 per cent) and NTPC (15.96 per cent).

Over 200 stocks hit lower circuit
As many as 223 stocks such as IFSL, Albert David, Perfectpac, Uni Abex Alloy Products and Shree Ganesh Biotech (India) defied positive market sentiment and hit their lower circuits on BSE today.

However, 197 stocks, including Ravalgaon Sugar Farm, Cochin Minerals & Rutile, Pacific Industries, Bhagiradha Chemicals & Industries and Binayak Tex Processors, hit their respective upper circuits on BSE.

Overbought and oversold stocks
Momentum oscillator Relative Strength Index, or RSI, on Monday showed 58 stocks in the oversold zone on BSE. Among the stocks that entered the oversold zone included Pincon Spirit, Esaar (India), Yamini Investments, Mega Corporation and Regent Enterprises.

On the other hand, Adani Transmission, Venus Remedies, Tata Investment, Darjeeling Ropeway, Coastal Corporation and Sangal Papers featured among the 37 stocks that entered the overbought zone on BSE, as per the RSI.

Bearish signals on 110 stocks
Momentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 110 counters on BSE. Among the stocks that saw negative crossovers were Jindal Saw, JSW Steel, IGL, Trident, MOIL and Cholamandalam Investment. However, 43 stocks, including Wipro, Vedanta, Allahabad Bank, Hindalco and Shailja Commercial, showed bullish crossovers on BSE.

ITC, Ultratech Cement, Hindalco above 200-DMA
ITC, Ultratech Cement, Hindalco, 3i Infotech, V-Mart Retail, Bank of Maharashtra and Corporation Bank featured among stocks that traded above their 200-DMA today. On the flip side, Zensar Tech, Majesco, Aarti Drugs, Hindustan Oil Exploration Company and NHPC traded below their 200-DMA today.

Call/put writing
On the options front, maximum Put open interest was at 10,000 followed by 10,200 strikes, while maximum Call OI was seen at 10,800 followed by 11,000 strike. "Meaningful Put writing was seen at 10,700 followed by 10,600 strike, which indicates supports are shifting higher, whereas Call unwinding was seen at all the immediate strike with minor Call writing at 11,000 strike. Options band signifies a broader trading range between 10,600 and 10,850 levels," said Chandan Taparia of Motilal Oswal Securities.

Technical view on Nifty
“The broader market indices are still stuck in a consolidation range. Nevertheless, they are on the verge of a breakout on the upside. This shall add fuel to the upward momentum. Overall, the Nifty looks poised to head towards 11,000-11,140 in the short term. On the other hand, 10,630-10,600 shall now act as a key support zone," said Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.

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