Market updates: The Nifty50 closed the final session of the week on a strong note after a roller coaster ride, led through fine global cues. The rally globally used to be driven via the news that the US and China will hold trade talks next week.
The index managed to keep 10,700 levels and formed ‘Hammer’ form of a pattern on the everyday charts and ‘Bearish Engulfing’ sample on a weekly scale. During the week, the Nifty50 slipped 1.2 percent.
At the close of market hours, the Sensex was up 181.39 points or 0.51 percentage at 35695.10, and the Nifty up 55.10 points or 0.52 percentage at 10727.40. The market breadth used to be narrow as 1322 shares have advanced, against a decline of 1255 shares, and 159 shares are unchanged.
The S&P BSE Small-cap index fell by about 23 percentage outperformed Sensex, Nifty as properly as the S&P BSE mid-cap index. The index fell through 0.09
percent, compared to a 1.2 percentage fall in the Nifty and 1.39 percentage drop seen in the S&P BSE Mid-cap index.
India VIX fell via 3.74 percentage at 16.16 levels. VIX needs to hold below sixteen zones to again get a bounce-back move in the market.
Market updates: Top Gainers
Bharti Infratel: Up 8%
Bharti Airtel is ideally planning to increase around Rs 12,000-15,000 crore in the FY19 via an issue of fresh shares to repay the debt and so also bring down borrowing costs, in accordance with a report as well.
According to the report, the third round of fundraising will be done via equity dilution in Bharti Infratel, which is in the midst of a merger with Indus Towers.
YES Bank: up 4.5%
Yes, Bank shares on Friday gained 3.45% after touching an intraday excessive of Rs 190.25. An announcement made via the bank that they have sold 2,30,655 equity shares having a nominal fee of Rs.100 each, constituting 30% of the paid-up share capital of ‘Valecha Investments Private Limited’ which used to be obtained through the way of invocation of the pledge via the bank.
Market updates: Top Losers
Eicher Motors, down 13%
Shares of Eicher Motors fell over 7% last Wednesday after the company stated total sales of its Royal Enfield two-wheeler division declined 13% to 58,278 units in December, in contrast to 66,968 units in the same period final year. The stock hit a new 52-week low of Rs 20001 per share on January 4, 2019.
Mahindra & Mahindra, down 9.7%
Shares of auto primary Mahindra & Mahindra used to be down close to 10 percentage for the week gone via after the company on Tuesday stated a 6 percentage decline in its complete tractor sales at 17,404 units in December 2018. The company had sold 18,488 units in the year-ago month, Mahindra & Mahindra (M&M) stated in a statement. Domestic tractor sales had been at 16,510 units an ultimate month as against 16,855 units in December 2017, down two percent, it added.
Deteriorating the Chinese demand outlook would weigh on commodity prices, as the brokerage told while slashing FY20-2021 earnings that estimates for the companies as anywhere between around 9 percent to 38 percent as well.