Market Movers: Adani Enterprises, Adani Green hit fresh 52-week high; 16 stocks flash sell signal

The domestic equity market took a breather on Thursday after eight consecutive days of gains as the new stimulus announced by the Finance Minister Nirmala Sitharaman failed to enthuse investors on Dalal Street.

The 30-share Sensex closed 236.48 points, or 0.54 per cent, down at 43,357. On the other hand, the 50-share Nifty index settled 58 points, or 0.46 per cent, lower at 12,690.

Ajit Mishra, VP-Research, Religare Broking said, “Market participants were in profit taking mood from the beginning and the bias remained the same despite the additional stimulus package announced by FM. However, the stimulus package would certainly help in keeping the economy on a recovery path and has positive long-term implications.”

Here is a lowdown on what happened in Thursday’s trade:

Who moved my Sensex
Shares of State Bank of India (SBI) declined the most 3.16 per cent to Rs 226.80. Kotak Mahindra Bank, IndusInd Bank, NTPC and ICICI Bank also declined between 2 per cent and 3 per cent each. On the other hand, HUL (up 2.89 per cent), ITC (up 1.43 per cent), Larsen & Toubro (up 1.31 per cent) and Bajaj Finserv (up 1.06 per cent) capped the downside.

Coal India slips post Q2 results
Shares of Coal India declined nearly 3 per cent after the company on Wednesday reported 16.3 per cent fall in consolidated net profit at Rs 2,948.12 crore for September quarter on the back of higher expenses.

SpiceJet ends in green
Shares of SpiceJet gained nearly 2 per cent after the net loss of the budget carrier narrowed down to Rs 112.60 crore for the quarter ended September 30 against a loss of Rs 462.6 crore in Q2FY20. The scrip settled 1.85 per cent down at Rs 55.

Natco Pharma gains
Shares of Natco Pharma advanced nearly 1 per cent after the company reported a 73.23 per cent rise in its consolidated net profit to Rs 203.9 crore for the quarter ended September, mainly on account of robust sales. It had posted a net profit of Rs 117.7 crore for the corresponding period of the previous fiscal.

Promoter/Employee action: Vikas EcoTech, ICICI Bank:
Promoter group Nand Kishor Garg and Ketav Multicorp together sold 35 lakh shares of Vikas EcoTech on November 11, data available with BSE showed on Thursday.

Seventeen employees of ICICI Bank sold a total of 3.66 lakh shares of the private lender from November 6 to November 12.

Stocks that hit 52-week highs
Some 43 stocks scaled 52-week highs on NSE. They included Aarti Surfactants, Adani Enterprises, Adani Green, Amara Raja Batteries, Escorts, Gati, IFB Industries and Balkrishna Industries, among others.

Stocks that hit upper circuits
Some 271 stocks rose by their daily limits on BSE. These included GE Power, Indiabulls Integrated Services, Tata Steel PP and VIP Clothing , among others.

Most active counters
With a total traded quantity of 48.06 crore shares, YES Bank emerged as the most active stock on the NSE in terms of volume. It was followed by Vodafone Idea (10.37 crore), Siti Networks (7.13 crore) and Indiabulls Housing Finance (6.38 crore). On the other hand, Reliance Industries (Rs 3,672 crore), Bajaj Finance (Rs 2,389 crore), IndusInd Bank (Rs 2,200 crore) and Axis Bank (Rs 2,050 crore) stood among most active in terms of value.

Stocks that gave ‘sell’ signals
About 16 stocks on NSE crossed below the Signal Line of MACD indicator, flashing ‘sell’ signals. They included Kansai Nerolac, Century Plyboard, Pidilite Industries, Subros, Aries Agro, Jain Irrigation and Aries Agro, among others.

Where is Nifty headed?
Nagaraj Shetti, Technical Research Analyst, HDFC Securities, believes that Thursday’s minor weakness has not changed the status of a near term positive trend in the market. There is a possibility of further 1-2 sessions of consolidation movement with minor weakness, before showing any upside breakout above 12,770 levels. The immediate support is placed at 11,580.