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After Market: Raters jump, RIL drags; bank stocks take big knock

Mumbai: Shares of ratings agencies were in the limelight in Tuesday’s trade, as they surged amid heavy volumes. Dealers cited a lower-than-expected penalty from the markets regulator last week as a trigger.

CARE Ratings jumped 17.97 per cent to Rs 640.25, while peer ICRA rose 3.07 per cent to Rs 3,020. Sector leader Crisil saw its shares jump 4.42 per cent to Rs 1,900.

The 30-share Sensex closed the session 0.73 per cent, or 304.26 points, lower at 41,253, while 50-share Nifty shed 0.71 per cent or 87.40 points to close at 12,168. Sensex rose 14.38 per cent for the year, and Nifty 12.02 per cent.

“The market witnessed profit booking ahead FM’s press conference. The market ended CY19 on a positive note with a 14 per cent gain,” said Amit Shah, Technical Research Analyst at Indiabulls Ventures.

Here is a lowdown on the movers and shakers of Tuesday’s session on Dalal Street:

RIL, financials pull down Sensex

Energy-to-telecom conglomerate Reliance Industries (RIL) contributed the most to Sensex’s 90.75 points decline. Mortgage lender HDFC (39.34 points), and private lenders HDFC Bank (36.53 points) and ICICI Bank (31.76 points) followed next. NTPC was the biggest gainer in the pack, rising 2 per cent, followed by Sun Pharma (0.62%), ONGC (0.55%) and PowerGrid (0.29%).

Prince Pipes drags lower

After a disappointing debut on Monday, Price Pipes and Fittings slipped further, shedding 8.46 per cent to close at Rs 152. The shares were issued at Rs 178, and had shed 6.40 per cent on Monday.

Financial stocks lose steam

Financials closed lower as traders locked in gains. State Bank of India, the country’s biggest lender, shed 0.16 per cent to close at Rs 333, while private lender ICICI Bank dropped 0.96 per cent to Rs 538 and HDFC Bank fell 0.71 per cent to Rs 1,271.

Most active stocks on NSE

By value, RIL was the most active stock, followed by Indiabulls Housing Finance, Tata Motors and Axis Bank. By Volume, Vodafone Idea topped the charts, while YES Bank, Tata Motors and Indiabulls Housing Finance followed suit.

Energy top sectoral loser

BSE Energy index was the top sectoral loser, as it shed 1.19 per cent. Gulf Oil Lubricants was the top loser in the pack, down 3.10 per cent at Rs 810. RIL fell 1.95 per cent to Rs 1,514.10.

DHFL shares slip 3%

Shares of Dewan Hosuing Finance (DHFL) dropped 3.17 per cent to Rs 16.80. The RBI-appointed administrator on Monday met the committee of creditors (CoC) of DHFL and discussed a resolution plan for the crippled lender and the Rs 87,905.6 crore worth of claims received from banks, employees and bond holders.

Volatile times ahead

India Vix, the barometer of market volatility, rose 4.99 per cent to 11.5575, hinting that the market could tread choppy waters in the days to come.

34 stocks hit 52-week highs

A total of 34 stocks scaled 52-week highs on NSE. They included Aavas Financiers, Chalet Hotels, Infibeam Avenues, Jubilant Foodworks, Manappuram Finance and Muthoot Finance. On the other hand, 39 stocks hit 52-week lows. Among them were Cox & Kings, CSB Bank, Cyber Media (India), Indian Bank, Jaiprakash Associates, Sadbhav Engineering, Stampede Capital and Suzlon Energy.

Source: Economic Times