NEW DELHI: Monday Blues? Let's call it Monday reds!
Dalal Street woke up to another gloomy session on Monday, tracking heavy selloff in US equities on Friday on rising bond yields.
For investors back home, still coming to terms with the LTCG tax, it was another nail in the coffin.
The S&P BSE Sensex ended nearly 1 per cent, or 310 points, down at 34,757, with Bharti Airtel being the top gainer (up 4 per cent) and HDFC (down 4 per cent) the worst laggard. The Nifty50 index of the National Stock Exchange (NSE) lost 94 points to close at 10,666, with 26 constituents ending in the red and 24 in the green.
Here's a look at top newsmakers of the session.
What a fight back!
The most interesting part of the session was a major recovery in select midcap stocks. After falling to an intraday low of 16,076, the S&P BSE Midcap index made a strong comeback and ended just 15 points lower at 16,560, with Ashok Leyland (up 6 per cent) being the top gainer and Vakrangee the worst laggard (down 10 per cent). The index, briefly entered the green zone, but failed to sustain the gains.
Jamna Auto, Radico Khaitan rejoice
Shares of Jamna Auto, the manufacturer of tapered leaf and parabolic springs for commercial vehicles (CVs), spurted as much as 11 per cent during the day, before settling 9 per cent higher at Rs 74.80 on BSE. Another stock that made merry was Radico Khaitan, which jumped over 9 per cent amid heavy buying to close at Rs 354 apiece. The firm recently reported a 77.71 per cent jump in December quarter profit at Rs 35 crore.
Sunil Singhania quits Reliance Capital
Sunil Singhania, global head (equities) at Reliance capital, has put in his papers to pursue entrepreneurial opportunities in his individual capacity, the company told the stock exchanges in a release. Shares of the company closed 4.42 per cent higher at Rs 456.70 on BSE.
Tata Motors shines on Q3 nos
Tata Motors on Monday reported a standalone net profit of Rs 183.65 crore for December quarter against a Rs 295.30 crore loss reported for September quarter and Rs 1,052.13 crore loss reported for year-ago period. The stock closed 3 per cent higher at Rs 396 apiece on BSE.
Airtel rallies as Singtel ups stake
Shares of telecom major Bharti Airtel climbed over 4 per cent after reports that Singapore Telecommunications (Singtel) will increase its stake by investing Rs 2,649 crore through a preferential allotment of shares. The stock settled 4.20 per cent higher at Rs 439.50 on BSE.
TWEET OF THE DAY
These moments keep happening so regularly in markets: you get your favourite stocks 30 percent lower, in days. With nothing having changed in their outlook. Love such situations ??
Spurt in open interest Ramco Cements witnessed the biggest spike in open interest at 25.60 per cent, followed by United Breweries (24.11 per cent) and Colgate (Palmolive) (17.11 per cent).
Fin services, private lenders lead the fall
Shares of financial services players and private banks plunged the most. The Nifty Financial Services index slumped 1.85 per cent, or 202 points, to settle at 10,685. The Nifty Private Bank index tanked 230 points, or 1.55 per cent, to settle at 14,582 with six out of 10 constituents ending in the red.
