ETMarkets After Hours: Delta Corp takes a tumble; OMCs, Suzlon see lot of action
Weak global cues and speculation over key macroeconomic data such as consumer inflation and IIP numbers — scheduled for release later in the day — weakened market momentum in Wednesday’s trade.
The 30-share BSE Sensex closed 144 points, or 0.49 per cent, down at 29,643, while the 50-share NSE Nifty index settled 33 points, or 0.36 per cent, down at 9,203.
Overall, rising geopolitical concerns drove investors to safer assets such as gold, treasuries, the Japanese yen and bonds. The yellow metal was trading in the green in the late afternoon trade on the Multi Commodity Exchange (MCX).
Here’s a look at the stocks and sectors that hogged limelight on Wednesday:
Stock that buzzed in trade: Shares of Delta Corp extended their losses for a sixth consecutive session on Wednesday amid reports of a possible merger of Daman and Diu - a coastal Union Territory (UT) - with the state of Gujarat. Market watchers believe Prime Minister Narendra Modi may take a decision regarding the merger during his forthcoming visit to the UT on April 17. The move, if materialises, will affect Delta Corp’s casino business in the region as gambling is prohibited in Gujarat. Share price of Delta Corp settled 6.37 per cent down at Rs 169.65.
OMCs closed mixed: Shares of the oil marketing companies (OMCs) closed mixed after they said petrol and diesel prices will change every day from May 1 in sync with international rates, much like what happens in most advanced markets. BPCL and HPCL settled higher by 1 per cent and 0.65 per cent, while IOC closed down by 0.32 per cent.
Sectorwise leaders & laggards: Among the sectoral indices on BSE, the Consumer Durables index declined the most at 1.01 per cent, followed by Power (down 0.97 per cent), Metal (down 0.66 per cent) and IT (down 0.52 per cent) indices. On the other hand, the Realty, Healthcare and Telecom indices closed higher by 0.81 per cent, 0.62 per cent and 0.40 per cent, respectively.
Bull’s eye: Shares of IFB Industries advanced over 5 per cent on Wednesday after data showed that Chennai-based marquee investor Dolly Khanna picked up 1 per cent stake in the company during January-March quarter. The scrip closed 5.17 per cent up at Rs 659.
Jubilant performance: Shares of Jubilant Life Sciences jumped nearly 6 per cent in intraday trade on Wednesday after ET Now reported that the company was looking to acquire a cancer and body imaging company in the US for a likely deal size of $150-200 million. Later, the scrip closed 2.55 per cent higher at Rs 853.
Spurt in OI: Stock futures of Suzlon saw the biggest jump in open interest (OI) at 39.19 per cent. It was followed by Capital First (up 27.61 per cent), Bharti Infratel (up 19.14 per cent) and Indian Bank (up 19.14 per cent).
Most active stocks: Suzlon emerged the most active stock in terms of traded volume on NSE on Wednesday. It was followed by Indiabulls Real Estate, JP Associates, REC, PFC and South Indian Bank.
Fresh 52-week highs: Over 130 stocks on NSE hit their fresh 52-week highs in Wednesday’s trade. The list included Aditya Birla Fashion, Dilip Buildcon, The Federal Bank, Finolex Cables, InterGlobe Aviation, IIFL Holdings and ITD Cementation.
The 30-share BSE Sensex closed 144 points, or 0.49 per cent, down at 29,643, while the 50-share NSE Nifty index settled 33 points, or 0.36 per cent, down at 9,203.
Overall, rising geopolitical concerns drove investors to safer assets such as gold, treasuries, the Japanese yen and bonds. The yellow metal was trading in the green in the late afternoon trade on the Multi Commodity Exchange (MCX).
Here’s a look at the stocks and sectors that hogged limelight on Wednesday:
Stock that buzzed in trade: Shares of Delta Corp extended their losses for a sixth consecutive session on Wednesday amid reports of a possible merger of Daman and Diu - a coastal Union Territory (UT) - with the state of Gujarat. Market watchers believe Prime Minister Narendra Modi may take a decision regarding the merger during his forthcoming visit to the UT on April 17. The move, if materialises, will affect Delta Corp’s casino business in the region as gambling is prohibited in Gujarat. Share price of Delta Corp settled 6.37 per cent down at Rs 169.65.
OMCs closed mixed: Shares of the oil marketing companies (OMCs) closed mixed after they said petrol and diesel prices will change every day from May 1 in sync with international rates, much like what happens in most advanced markets. BPCL and HPCL settled higher by 1 per cent and 0.65 per cent, while IOC closed down by 0.32 per cent.
Sectorwise leaders & laggards: Among the sectoral indices on BSE, the Consumer Durables index declined the most at 1.01 per cent, followed by Power (down 0.97 per cent), Metal (down 0.66 per cent) and IT (down 0.52 per cent) indices. On the other hand, the Realty, Healthcare and Telecom indices closed higher by 0.81 per cent, 0.62 per cent and 0.40 per cent, respectively.
Bull’s eye: Shares of IFB Industries advanced over 5 per cent on Wednesday after data showed that Chennai-based marquee investor Dolly Khanna picked up 1 per cent stake in the company during January-March quarter. The scrip closed 5.17 per cent up at Rs 659.
Jubilant performance: Shares of Jubilant Life Sciences jumped nearly 6 per cent in intraday trade on Wednesday after ET Now reported that the company was looking to acquire a cancer and body imaging company in the US for a likely deal size of $150-200 million. Later, the scrip closed 2.55 per cent higher at Rs 853.
Spurt in OI: Stock futures of Suzlon saw the biggest jump in open interest (OI) at 39.19 per cent. It was followed by Capital First (up 27.61 per cent), Bharti Infratel (up 19.14 per cent) and Indian Bank (up 19.14 per cent).
Most active stocks: Suzlon emerged the most active stock in terms of traded volume on NSE on Wednesday. It was followed by Indiabulls Real Estate, JP Associates, REC, PFC and South Indian Bank.
Fresh 52-week highs: Over 130 stocks on NSE hit their fresh 52-week highs in Wednesday’s trade. The list included Aditya Birla Fashion, Dilip Buildcon, The Federal Bank, Finolex Cables, InterGlobe Aviation, IIFL Holdings and ITD Cementation.
