ETMarkets After Hours: UP-based sugar stocks rally; JSPL tumbles 3%
NEW DELHI: Fag-end buying in select auto and banking stocks helped the benchmark equity indices snap a two-day losing streak and notch up gains on Thursday. The BSE Sensex closed 27.19 points higher at 28,929, while the Nifty50 settled 2.70 points up at 8,927.
Here’s a look at the stocks and sectors that hogged limelight during the session.
A sweet deal: Shares of most of the UP-based sugar companies rallied ahead of the outcome of exit polls on the state elections. China’s Ministry of Agriculture also cut its forecast for sugar output in 2016-17 by 200,000 tonnes from last month’s estimate to 9.7 million tonnes in its monthly crop report published on Thursday. Shares of Balrampur Chini Mills and Bajaj Hindusthan closed 5.62 per cent and 1.84 per cent higher at Rs 155 and Rs 14.39, respectively. Oudh Sugar Mills closed 1.12 per cent up at Rs 149.30.
Setback for JSPL: Shares of Jindal Steel and Power (JSPL) cracked over 3 per cent on Thursday after the Delhi High Court upheld cancellation of the company’s bid for Gare Palma coal block. The scrip closed 3.60 per cent down at Rs 117.90.
Bonus time: Shares of Gail (India) declined as much as 5 per cent in early trade on BSE after the stock turned ex-bonus in the 1:3 ratio. The company’s board on January 27, 2017 approved the issue of bonus shares in the 1:3 ratio, which means 1 bonus share of Rs 10 each on every three fully paid-up equity shares of Rs 10 each held. The scrip closed 1.96 per cent down at Rs 380.60.
Midcaps underperform: The BSE Midcap index underperformed the benchmark equity index and closed 0.21 per cent lower at 13,399. Indian Bank (down 3.29 per cent), NLC India (down 2.29 per cent), Torrent Power (down 2.29 per cent) and Divi’s Labs (down 1.86 per cent) were among the top losers from the midcap space.
Sectorwise: Among the sectoral indices on BSE, the BSE Auto index advanced the most at 0.56 per cent, followed by Consumer Durables index (up 0.36 per cent), Bankex (up 0.24 per cent) and IT index (up 0.11 per cent). On the other hand, BSE Oil & Gas, Metal and Healthcare indices slipped 0.65 per cent, 0.65 per cent and 0.64 per cent, respectively.
Spurt in OI: Stock futures of Apollo Hospitals saw the biggest spurt in open interest (OI) at 68.26 per cent. It was followed by Gail (up 49.95 per cent) and Dr Reddy’s Labs (up 30.67 per cent).
Most active securities: Reliance Communications emerged as the most active stock in terms of traded volume on NSE on Thursday. It was followed by
Jindal Steel, JP Associates, TTML and Dish TV.
Here’s a look at the stocks and sectors that hogged limelight during the session.
A sweet deal: Shares of most of the UP-based sugar companies rallied ahead of the outcome of exit polls on the state elections. China’s Ministry of Agriculture also cut its forecast for sugar output in 2016-17 by 200,000 tonnes from last month’s estimate to 9.7 million tonnes in its monthly crop report published on Thursday. Shares of Balrampur Chini Mills and Bajaj Hindusthan closed 5.62 per cent and 1.84 per cent higher at Rs 155 and Rs 14.39, respectively. Oudh Sugar Mills closed 1.12 per cent up at Rs 149.30.
Setback for JSPL: Shares of Jindal Steel and Power (JSPL) cracked over 3 per cent on Thursday after the Delhi High Court upheld cancellation of the company’s bid for Gare Palma coal block. The scrip closed 3.60 per cent down at Rs 117.90.
Bonus time: Shares of Gail (India) declined as much as 5 per cent in early trade on BSE after the stock turned ex-bonus in the 1:3 ratio. The company’s board on January 27, 2017 approved the issue of bonus shares in the 1:3 ratio, which means 1 bonus share of Rs 10 each on every three fully paid-up equity shares of Rs 10 each held. The scrip closed 1.96 per cent down at Rs 380.60.
Midcaps underperform: The BSE Midcap index underperformed the benchmark equity index and closed 0.21 per cent lower at 13,399. Indian Bank (down 3.29 per cent), NLC India (down 2.29 per cent), Torrent Power (down 2.29 per cent) and Divi’s Labs (down 1.86 per cent) were among the top losers from the midcap space.
Sectorwise: Among the sectoral indices on BSE, the BSE Auto index advanced the most at 0.56 per cent, followed by Consumer Durables index (up 0.36 per cent), Bankex (up 0.24 per cent) and IT index (up 0.11 per cent). On the other hand, BSE Oil & Gas, Metal and Healthcare indices slipped 0.65 per cent, 0.65 per cent and 0.64 per cent, respectively.
Spurt in OI: Stock futures of Apollo Hospitals saw the biggest spurt in open interest (OI) at 68.26 per cent. It was followed by Gail (up 49.95 per cent) and Dr Reddy’s Labs (up 30.67 per cent).
Most active securities: Reliance Communications emerged as the most active stock in terms of traded volume on NSE on Thursday. It was followed by
Jindal Steel, JP Associates, TTML and Dish TV.
