ETMarkets After Hours: Tyre stocks perk up, Bharti Airtel zooms
NEW DELHI: The NSE Nifty index hit a fresh 52-week high of 8,982.15 in intraday trade on account of selected buying by institutional investors.
Traders chose to overlook the latest statement from the US Fed, indicating a probable rate hike as early as next month.
Overall, the market tone was positive for most part of the session, but profit-booking in the last hour trimmed gains. The benchmark Nifty index closed 12.60 points or 0.14 per cent up at 8,939.50 on derivatives expiry. The 30-share BSE Sensex settled 28.26 points or 0.10 per cent up at 28,892.97.
Here’s a look at the stocks and sectors that hogged limelight on Thursday.
On fire: Shares of housing finance companies (HFCs) advanced on Thursday after market regulator Sebi increased additional permissible investment limit for debt funds to invest in corporate bonds of these lenders. Dewan Housing closed 4.22 per cent up at Rs 330.75. LIC Housing Finance settled 1.09 per cent up at Rs 565.65. Indiabulls Housing Finance closed 1.24 per cent up at Rs 77.55.
The Jio effect: Shares of Bharti Airtel surged as much as 11 per cent in trade and hit fresh 52-week high of Rs 400.65 after the company announced that it has entered into a definite agreement with Telenor South Asia Investments to acquire Telenor (India) Communications Private Ltd. Later, the scrip closed 1.36 per cent up at Rs 366.05. The announcement came after Mukesh Ambani on Tuesday announced that Reliance Jio has crossed 100 customers mark in just 170 days.
On a roll: Tyre stocks advanced on reports of fall in rubber prices in international markets on Thursday. MRF, Balkrishna Industries and Apollo Tyres closed 3.36 per cent, 3.89 per cent and 2.45 per cent higher at Rs 51426.85, Rs 1219.05 and Rs 184.25, respectively. Shares of JK Tyre closed 1.43 per cent up at Rs 120.80.
Brokerage’s call: Shares of The Phoenix Mills jumped over 5 per cent intraday in Thursday’s trade after foreign brokerage HSBC made a buy call on the stock with a target price of Rs 500. The scrip, however, closed 2.62 per cent down at Rs 353.20.
New order: Shares of Asian Oilfield Services advanced nearly 10 per cent in early trade on Thursday after the company informed bourses that its wholly-owned subsidiary, Asian Oilfield & Energy Services DMCC, Dubai, has signed a contract for providing operations and maintenance services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria. The total value of contract is about $95 million for a total period of five years. Later, the scrip closed 3.09 per cent up at Rs 169.90.
Spurt in OI: Stock futures of South Indian Bank saw the biggest jump in open interest (OI) at 76.81 per cent. It was followed by Britannia (up 70.33 per cent) and UBL (up 70.18 per cent).
Most active securities: Idea Cellular emerged as the most active stock in terms of traded volume on NSE on Thursday. It was followed by JP Associates, Reliance Communications, Jindal Steel and Suzlon Energy.
Traders chose to overlook the latest statement from the US Fed, indicating a probable rate hike as early as next month.
Overall, the market tone was positive for most part of the session, but profit-booking in the last hour trimmed gains. The benchmark Nifty index closed 12.60 points or 0.14 per cent up at 8,939.50 on derivatives expiry. The 30-share BSE Sensex settled 28.26 points or 0.10 per cent up at 28,892.97.
Here’s a look at the stocks and sectors that hogged limelight on Thursday.
On fire: Shares of housing finance companies (HFCs) advanced on Thursday after market regulator Sebi increased additional permissible investment limit for debt funds to invest in corporate bonds of these lenders. Dewan Housing closed 4.22 per cent up at Rs 330.75. LIC Housing Finance settled 1.09 per cent up at Rs 565.65. Indiabulls Housing Finance closed 1.24 per cent up at Rs 77.55.
The Jio effect: Shares of Bharti Airtel surged as much as 11 per cent in trade and hit fresh 52-week high of Rs 400.65 after the company announced that it has entered into a definite agreement with Telenor South Asia Investments to acquire Telenor (India) Communications Private Ltd. Later, the scrip closed 1.36 per cent up at Rs 366.05. The announcement came after Mukesh Ambani on Tuesday announced that Reliance Jio has crossed 100 customers mark in just 170 days.
On a roll: Tyre stocks advanced on reports of fall in rubber prices in international markets on Thursday. MRF, Balkrishna Industries and Apollo Tyres closed 3.36 per cent, 3.89 per cent and 2.45 per cent higher at Rs 51426.85, Rs 1219.05 and Rs 184.25, respectively. Shares of JK Tyre closed 1.43 per cent up at Rs 120.80.
Brokerage’s call: Shares of The Phoenix Mills jumped over 5 per cent intraday in Thursday’s trade after foreign brokerage HSBC made a buy call on the stock with a target price of Rs 500. The scrip, however, closed 2.62 per cent down at Rs 353.20.
New order: Shares of Asian Oilfield Services advanced nearly 10 per cent in early trade on Thursday after the company informed bourses that its wholly-owned subsidiary, Asian Oilfield & Energy Services DMCC, Dubai, has signed a contract for providing operations and maintenance services (O&M) for an offshore production unit operating at EBOK field offshore Nigeria. The total value of contract is about $95 million for a total period of five years. Later, the scrip closed 3.09 per cent up at Rs 169.90.
Spurt in OI: Stock futures of South Indian Bank saw the biggest jump in open interest (OI) at 76.81 per cent. It was followed by Britannia (up 70.33 per cent) and UBL (up 70.18 per cent).
Most active securities: Idea Cellular emerged as the most active stock in terms of traded volume on NSE on Thursday. It was followed by JP Associates, Reliance Communications, Jindal Steel and Suzlon Energy.
