NEW DELHI: Domestic equity benchmarks Sensex and Nifty closed in positive territory on Friday, extending gains to the fifth consecutive session, helped by buying in select banks, financial, auto and IT heavyweights.
Rupee's rise on the back of a fall in global crude oil prices kept market up.
However, cautious global cues ahead of Trump-Xi G20 meet capped the gains.
Investors tracked key economic data, including GDP numbers of the second quarter and October fiscal deficit print.
The Trump-Xi summit in Argentina took the centre-stage where both the leaders are likely to discuss trade issues that may set the tone for financial markets across the globe in the near term.
The Sensex closed 24 points up at 36,194.30, with 13 stocks advancing and 18 declining. The Nifty closed the day with a gain of 18 points at 10,876.75, with 24 stocks running up, 25 down and one unchanged. Let's walk you through highlights of Friday's session. Sensex, Nifty log biggest gain since JulyMarking their best monthly run since July, the Sensex jumped by 5.09 per cent and the Nifty 4.72 per cent in November.
For the week, the BSE gauge climbed 3.47 per cent and the Nifty 3.32 per cent.
Sensex movers and shakersHDFC, Infosys, Kotak Mahindra Bank, YES Bank and Mahindra Mahindra (MM) were the top contributors of the day in the Sensex pack.
ICICI Bank was among top drags, followed by HDFC Bank, IndusInd Bank, Tata Motors and ITC.
In terms of percentage gains, YES Bank, Wipro, MM, Sun Pharma and Kotak Mahindra Bank emerged as the top five, rising between 1.83 and 5.73 per cent.
Wealth creationIn the last five consecutive sessions of upmove, Rs 2.42 lakh crore was added to the BSE listed firms.
The total market valuation of BSE listed firms jumped to Rs 1,42,88,775.86 crore, from Rs 1,40,45,908.35 crore on November 22. YES Bank snaps 5-day losing streakAfter five consecutive sessions of losses, shares of YES Bank settled 5.73 per cent higher at Rs 169.65 on the BSE today.
The scrip rallied on reports that outgoing Managing Director and CEO Rana Kapoor may not be in the fray for the post of chairman.
The private lender will recommend the name of a new chairman for approval by the RBI after the meetings of the Nomination and Remuneration Committee (NRC) and the board of directors scheduled for December 13. Vodafone Idea plunges 6% Shares of Vodafone Idea plunged 6.09 per cent to Rs 35.45 after ratings agency Crisil downgraded Vodafone Mobile Services' non-convertible debentures of Rs 6,000 crore ($860.80 million) to 'Crisil A+' with a negative outlook from 'Crisil AA-' with a negative outlook.
Tata Motors skids Tata Motors shares fell 3.02 per cent to settle at Rs 171.95 on the BSE after reports that the company owned JLR will temporarily halt production and reduce the workforce by about 500 at its engine factory in Wolverhampton (UK) to adjust for low demand. Spurt in open interestOil India led the pack of stocks that witnessed the biggest spurt in open interest (OI) on the NSE.
The stock saw a change of 96.46 per cent in OI on the NSE.
It was followed by NTPC (68.14 per cent), Divi's Laboratories (61.66 per cent), Repco Home Finance (61.26 per cent), Coal India (49.43 per cent) and Bata India (48.68 per cent).
OI is an outstanding buy or sell position on a stock or index futures or options contract. Overbought and oversold stocksMomentum oscillator Relative Strength Index, or RSI, showed 45 stocks, including Esaar (India), Alchemist, Arvind, Jindal Stainless, Sybly Industries and Veritas (India), in the oversold zone on the BSE.
However, 41 stocks appeared in the overbought zone, including Electrosteel Steels, Innovative Ideals, Ventura Textiles, Anubhav Industrial and EIH. Bearish signal on 94 countersMomentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 94 counters on the BSE.
They include NCC, Oil India, UPL, DB Realty, PVR and HPCL.
On the other side, Ashok Leyland, Bata India, Siemens, TVS Motor and Century Textiles featured among the 74 stocks that showed bullish crossovers.
Nifty forms small bearish candleNifty50 formed a small bearish candle on the daily chart, which resembled an indecisive ‘Spinning Top’, but continued to make higher high-higher low formation for the fourth straight session.
Upside from here on, if any, could be limited, say experts.
Nagaraj Shetti, Technical Research Analyst at HDFC Securities, noted that the formation of a Spinning Top after a reasonable upmove could be indicating confusion in investors’ state of mind.
He noted that the index failed to show a follow-up buying after moving above the key of 10,850 level.