INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Marking a turnaround in fortunes, equity benchmarks Sensex and Nifty staged an impressive comeback on Friday, led by banks,
financials, FMCG and auto stocks.
The reversal of course came after three straight sessions of losses
Earlier on, sentiment got a leg-up on reports that Warren Buffett's Berkshire Hathaway is looking to buy 10 per cent stake in Kotak
Crude oil prices lay low due to ambiguity over a cut in output by Opec
A stronger rupee had a big bearing, too
Asian and European markets were in a better shape after US Fed Chairman Jerome Powell signalled that the three-year tightening cycle is
IMF chief Christine Lagarde's comments that the US is not likely to see an economic contraction in the near term added to the buying
However, there were worries that the US-China relation may turn into a sordid saga due to the arrest of a senior Huawei executive.
The BSE
barometer Sensex jumped 361 points, or 1.02 per cent, to end the day at 35,673.25
The Nifty50 closed the day at 10,693.70, with a gain of 93 points or 0.87 per cent
Midcaps and smallcaps were no match to the Sensex
The BSE Midcap index settled 0.23 per cent up, but the smallcap index closed 0.27 per cent down
For the week, Sensex came off by 521 points, or 1.44 per cent, and the Nifty 183 points, or 1.68 per cent.
We run you through the
highlights of Friday's session:Who moved my SensexKotak Mahindra Bank, Adani Ports, Baja Auto, Infosys, Asian Paints and Hero MotoCorp
emerged as the top six gainers of the Sensex
On the other hand, Sun Pharma, Coal India, YES Bank, NTPC, Tata Steel and Power Grid Corporation finished the day as the top six losers
Kotak Mahindra Bank, Infosys, Reliance Industries, ICICI Bank, HDFC Bank and Larsen Toubro featured as the top six contributors of Friday's
rally.
Kotak Bank in a sweet spotShares of Kotak Mahindra Bank closed the day at Rs 1,282.25 on the BSE, up 8.53 per cent after reports that
Warren Buffett's Berkshire Hathaway is looking to pick 10 per cent in the bank
According to a CNBC-TV 18 report, the Buffett firm is reported to be lining up $4-6 billion for the private lender through promoter stake
buy or preferential allotment
Tata Motors recovers from 52-week lowShares of Tata Motors settled flat at Rs 162.45 on the BSE, emerging from its 52-week low of Rs 160.75
it touched during the day after Jaguar Land Rover reported weak sales numbers for November
"Jaguar Land Rover reported total retail sales of 48,160 vehicles in November 2018, down 8 per cent year-on-year reflecting continuing
challenging market conditions in China," the company said in a BSE filing
HCL Tech plunges 5%Shares of domestic IT firm HCL Technologies finished 4.98 per cent lower at Rs 961.55 after the company said it is
acquiring select IBM software products for $1.8 billion
The products that represent a total addressable market of more than $50 billion include products in areas like security, marketing and
The acquisition, which is the largest in the history of HCL, is expected to close by mid-2019
Overbought oversold stocksMomentum oscillator Relative Strength Index, or RSI, showed 64 stocks in the oversold zone on BSE
On Friday, shares of Jindal Stainless, Arvind, ILFS Transportation, Quess Corp, Vipul and Sun Pharma Advanced Research Company featured in
On the other hand, GBL Industries, Orient Tradelink, A Infrastructure, Econo Trade (India) and Apoorva Leasing Finance Investment featured
among the 27 stocks that settled in the overbought zone.
Bearish signal for 106 countersMomentum indicator moving average convergence
divergence, or MACD, showed bearish crossovers on 106 counters on the BSE
Among the stocks that showed bearish crossovers were HCL Technologies, IDFC Bank, IRB Infrastructure, SBI Life Insurance, Indian Bank, Tech
Mahindra, Lupin, Maruti Suzuki India and Indiabulls Real Estate
On the other hand, 50 stocks, including Orient Electric, ICICI Securities, Avanti Feeds, Angel Fibers and Shiva Texyarn, showed bullish
Spurt in open interestMuthoot Finance featured at the top among the stocks that witnessed biggest spurt in open interest (OI)
The stock saw a change of 89.62 per cent in its OI, followed by Kotak Mahindra Bank (64.05 per cent), HCL Tech (41.78 per cent), Siemens
(16.28 per cent) and PFC (15.83 per cent)
Adani Ports, Kotak Bank above 200-DMAAdani Ports, PTC India, Mahamaya Steel, Graphite India, Aarti Drugs and Kotak Mahindra Bank were among
stocks that witnessed positive breakouts and traded above their 200-DMAs
closed just shy of the 10,700-mark on Friday
"As the Nifty50 registered a decisive breakdown below its 200-DMA with a gap down on Thursday, the index may remain under pressure unless it
Trading Advisory, Chartviewindia.
