INSUBCONTINENT EXCLUSIVE:
Fag-end selling ruined the party on Dalal Street on Tuesday, as uncertainty loomed over government formation in Karnataka.
After rising over
and the 50-share Nifty had risen above 10,900 in morning trade after early vote count trend hinted at a clear majority for the BJP
The party, however, fell a few seats short of the majority mark.
As many as 27 stocks in the Nifty index closed in the red with Tata Motors,
State Bank of India, Coal India, Indiabulls Housing Finance and NTPC falling between 1 and 4 per cent, while Tata Steel, Power Grid, Bajaj
tankedShares of Punjab National Bank plunged over 3 per cent after the lender reported a net loss of Rs 13,416.91 crore for the quarter
ended March 31, 2018 as provisions surged four times
The PSU lender had reported Rs 261.90 crore profit for the corresponding quarter last year
The scrip closed 3.80 per cent down at Rs 86.
Tata Motors at 2-year lowTata Motors shares declined 4.29 per cent to Rs 310.25, their lowest
For the past two years, stock's movement is confined to a descending trend channel, movement within which may lead to further downside,
Momentum indicator MACD slipped into negative and below the signal line, indicating further weakness on the counter
in the red after the company reported a consolidated net loss of Rs 777.60 crore for March quarter compared with a Rs 337 crore profit that
analysts had estimated in an ETNow poll
The numbers were hurt by a one-time impairment provision of Rs 1,464.35 crore that the company made on certain intangible assets acquired as
part of the Gavis group acquisition
The company had reported Rs 707 crore profit for the year-ago quarter
The scrip closed 0.46 per cent down at Rs 750.85.
200 stocks@fresh 52-week lowMore than 200 stocks on the National Stock Exchange (NSE) hit
their fresh 52-week low on Tuesday
The list included stocks such as ACC, Ansal Housing, IDFC Bank, Jet Airways (India), Jubilant Industries, Kirloskar Electric Company,
Some of the stocks in the list included Dilip Buildcon, HDFC Bank, Asian Paints, Pidilite Industries, V-Mart Retail and Nestle India.
Most
active stocksReliance Communications, Suzlon, PC Jeweller, JP Associates, Punjab National Bank, GMR Infra, Idea Cellular and IDFC Bank were
among the most active stocks in terms of volume while those of PC Jeweller, Tata Steel, BEML, Power Grid, HDFC, Hindustan Unilever and Tata
Motors were most active in terms of value.
Spurt in open interestIndiabulls Housing Finance witnessed the biggest spurt in open interest at
28.99 per cent, followed by Page Industries (17.78 per cent), Tata Global (17.43 per cent) and ACC (16.89 per cent).
Allahabad Bank tanked
8%Shares of Allahabad Bank plunged over 8 per cent after the PSU lender of Monday said the Reserve Bank of India has imposed restrictions on
its lending to risky assets and raising high-cost deposits in view of deteriorating financial health
The scrip closed 8.60 per cent down at Rs 40.40.
