NEW DELHI: Mondays session was marked by stock and sector-specific action as healthy gains in IT, auto and financial stocks helped equity benchmarks Sensex and Nifty to settle in the green.
“Stock-specific action is happening in the market. Infosys guidance for FY20 has influenced the sentiment in the entire IT pack. Pharma stocks performed, as the market is expecting a turnaround,” said Pankaj Pandey, Head of Research at ICICIdirect.
Reports that the government was considering some form of relief for foreign portfolio investors (FPIs) from the income-tax surcharge on super-rich also influenced the market mood. Positive Asian peers and a stronger rupee also offered support.
The 30-share Sensex ended 160 points, or 0.41 per cent, higher at 38,896, with 14 stocks ending in the green. Nifty closed 36 points, or 0.31 per cent, higher at 11,588, with 23 stocks advancing and 27 declining.
Here is a breakdown of key actions from Monday's session:
311 stocks plumb 52-week lows
While the benchmark Sensex ended with gains, as many as 311 stocks, including Force Motors, Jamna Auto Industries, Castrol India, Tata Elxsi, Nocil and New India Assurance Company plumbed 52-week lows on BSE. On the other hand, Infosys, Intellect Design Arena and SBI Life Insurance Company were among 35 stocks that hit 52-week highs.
216 stocks hit lower circuits
Overall 216 stocks, including Cox & Kings, Manpasand Beverages, Reliance Communications, Parsvnath Developers and Religare Enterprises, hit their lower circuits on BSE. On the other hand, 5paisa Capital, Kridhan Infra, Ashapura Minechem, Mangalam Drugs & Organics and Jaypee Infratech were among the 118 stocks that hit upper circuit limits.
Infosys shares jump 7%
Shares of Infosys jumped over 7.20 per cent to close at Rs 779.45, adding Rs 17,636 crore to its market capitalisation, buoyed by its positive FY20 guidance, which the IT major raised. The company on Friday maintained its margin guidance, despite some erosion in June quarter margins. It expects to return about 85 per cent of free cash flow to investors cumulatively over next five years.
Allahabad Bank cracks 8%
Shares of public lender settled with a cut of 7.74 per cent at Rs 43.50 as it became the countrys second state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel this month.
YES Bank loses steam
After jumping over 5 per cent intraday, shares of YES Bank lost steam to close 1 per cent down at Rs 93.20, falling prey to profit booking. Reports that a US-based PE firm is leading a four-member consortium to pick stake in the private lender had given the stock a shot in the arm.
DHFL plunges 29%
Shares of Dewan Housing Finance Corporation (DHFL) plunges 29.15 per cent to settle at Rs 48.50 even as the NBFC issued a clarification over its Saturdays gloomy commentary. On Saturday, the company said the recent developments have threatened its ability to continue as a going concern. The company said it is working with stakeholders and creditors to ensure resolution of liquidity issues, without any hair cut to the lenders.
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