ETMarkets After Hours: IT stocks in complete disarray; smallcaps outshine
NEW DELHI: The domestic equity market plunged on Thursday, led by muted earnings numbers from Infosys and weak macroeconomic data.
Also, because of bearish global trend, participants were in the profit-taking mood from the beginning. The IT pack plunged, but there were many silver linings.
Here’s the breakdown on what soured the mood and what made Dalal Street investors smile on the last of the holiday-truncated week.
All went down for IT: IT stocks plunged on Thursday after Infosys gave a weak revenue guidance after reporting a disappointing set of numbers for the March quarter. Out of the 10 stocks in the NSE IT pack, only OFSS managed to end with a minor gain. Infosys plunged 3.71 per cent to Rs 932, TCS tanked 2.43 per cent to Rs 2,335 and HCL Tech slipped 2.36 per cent to Rs 812.
On fire: IndianOil topped the Rs 2 lakh crore market-capitalisation mark for the first time ever as its shares hit all-time peak of Rs 428 on Thursday. The BSE Oil and Gas index surged 1.04 per cent, thanks to the decision of the OMCs on daily revision of oil prices. From the pack, IOC zoomed 3.30 per cent to Rs 422, HPCL perked up 3.07 per cent to Rs 559 and BPCL gained 1.85 per cent to Rs 730.
Move over, largecaps: Shares of the midcap and smallcap companies outperformed their largecap peers on Thursday. The BSE Smallcap index gained 0.19 per cent against a 0.61 per cent fall in the BSE Sensex. From the midcap index, Prime Focus zoomed 15.42 per cent to Rs 115, Vivimed labs gained 15.26 per cent to Rs 116 and G M Breweries rose 10.05 per cent to Rs 486.
Back in vogue: After correcting over 13 per cent in last three trading sessions, shares of Sobha spurted as much as 6 per cent on Thursday on low-level buying. Shares of Sobha ended the day at Rs 378, up 4.39 per cent.
Spurt in OI: Futures of Indiabulls Real Estate Limited saw the biggest spike in open interest (OI) at 122 per cent on NSE. It was followed by Hindalco, Infy and Piramal Enterprises. Indiabulls Real Estate surged 8.06 per cent to Rs 106.60, Hindalco Industries plunged 5.13 per cent to Rs 183.10 and Piramal Enterprises zoomed 8.57 per cent to Rs 2,249.
Most active stocks: Adani Power was the most active stock in terms of traded volume on NSE on Thursday. It was followed by Suzlon, Indiabulls Real Estate, Hindalco, Infosys and Unitech. Adani Power slipped 1.10 per cent to Rs 32.80, Suzlon fell 1 per cent to Rs 19.90 and Unitech ended flat at Rs 5.70.
Also, because of bearish global trend, participants were in the profit-taking mood from the beginning. The IT pack plunged, but there were many silver linings.
Here’s the breakdown on what soured the mood and what made Dalal Street investors smile on the last of the holiday-truncated week.
All went down for IT: IT stocks plunged on Thursday after Infosys gave a weak revenue guidance after reporting a disappointing set of numbers for the March quarter. Out of the 10 stocks in the NSE IT pack, only OFSS managed to end with a minor gain. Infosys plunged 3.71 per cent to Rs 932, TCS tanked 2.43 per cent to Rs 2,335 and HCL Tech slipped 2.36 per cent to Rs 812.
On fire: IndianOil topped the Rs 2 lakh crore market-capitalisation mark for the first time ever as its shares hit all-time peak of Rs 428 on Thursday. The BSE Oil and Gas index surged 1.04 per cent, thanks to the decision of the OMCs on daily revision of oil prices. From the pack, IOC zoomed 3.30 per cent to Rs 422, HPCL perked up 3.07 per cent to Rs 559 and BPCL gained 1.85 per cent to Rs 730.
Move over, largecaps: Shares of the midcap and smallcap companies outperformed their largecap peers on Thursday. The BSE Smallcap index gained 0.19 per cent against a 0.61 per cent fall in the BSE Sensex. From the midcap index, Prime Focus zoomed 15.42 per cent to Rs 115, Vivimed labs gained 15.26 per cent to Rs 116 and G M Breweries rose 10.05 per cent to Rs 486.
Back in vogue: After correcting over 13 per cent in last three trading sessions, shares of Sobha spurted as much as 6 per cent on Thursday on low-level buying. Shares of Sobha ended the day at Rs 378, up 4.39 per cent.
Spurt in OI: Futures of Indiabulls Real Estate Limited saw the biggest spike in open interest (OI) at 122 per cent on NSE. It was followed by Hindalco, Infy and Piramal Enterprises. Indiabulls Real Estate surged 8.06 per cent to Rs 106.60, Hindalco Industries plunged 5.13 per cent to Rs 183.10 and Piramal Enterprises zoomed 8.57 per cent to Rs 2,249.
Most active stocks: Adani Power was the most active stock in terms of traded volume on NSE on Thursday. It was followed by Suzlon, Indiabulls Real Estate, Hindalco, Infosys and Unitech. Adani Power slipped 1.10 per cent to Rs 32.80, Suzlon fell 1 per cent to Rs 19.90 and Unitech ended flat at Rs 5.70.
