Shares of Tata Motors jumped over 7 per cent on Wednesday on reports of higher sales by its flagship arm Jaguar and Land Rover in the US. YES Bank paused its three-day losing streak and gained 6 per cent.
CSB Bank had a bumper listing on the bourses and gained 54 percent over issue price in debut trade. The issue had been subscribed 87 times during the book building process.
HDFC AMC, on the other hand, slipped 3 per cent after its promoter Standard Life offered 2.23 per cent stake at a lower-than-market floor price.
Among sectors, the Realty Index was the sole loser on NSE as other sectors registered gains amid fag-end buying. The 30-share BSE Sensex gained 174 points to 40,850 while its NSE counterpart Nifty added 43 points to 12,037.
“Nifty remains in an uptrend with strong support at 11,700 and one can expect it to top the 12,500 mark in the medium term. In the near term, we expect the index to trade in the 11,900-12,200 range. Bank stocks traded with a positive bias while metal stocks continued to consolidate after recent gains. Frontline IT stocks traded near long-term support levels,” said Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities.
Here is a lowdown of the movers and shakers of Wednesday’s session on Dalal Street:
Tata Motors races ahead
Tata Motors jumped 7.18 per cent to Rs 169 on BSE on reports of its flagship arm Jaguar Land Rover selling higher number of units in November in the US. The company sold 12,472 units, an increase of 6.2 per cent YoY against 11,744 units in November 2018.
YES Bank shares up 6%
After three days of relentless selling, the bulls pushed YES Bank higher on Wednesday as the stock gained 6 per cent to Rs 63.05. This was the first day of gain after the lender unveiled details of its capital raising plans.
HDFC AMC slips
HDFC AMC shares slid 3.26 per cent to Rs 3,329 after the company unveiled offer for sale plans. Standard Life, the joint promoter of HDFC’s asset management, is selling 2.23 per cent stake in the company via offer for sale. The floor price for the sale is set at Rs 3,170.
LVB gains as Capri picks stake
Shares of Lakshmi Vilas Bank jumped nearly 2.76 per cent to Rs 20.50 after entities belonging to Capri Group bought 4.9 per cent stake in the private lender. The stock purchases made Capri one of the largest non-promoter shareholders in LVB along with Indiabulls, which owned a tad below 5 per cent at the end of September quarter.
CSB Bank zooms 54% on debut
Shares of CSB Bank made a strong stock market debut as the scrip got listed at Rs 275 apiece on BSE, a 41.03 per cent premium over its issue price of Rs 195. The scrip ended the first day at Rs 300 on BSE, up 53.90 per cent.
Broader market in line
Broader market indices were in tandem with the headline peers as Nifty Midcap Index advanced 0.52 per cent to 17,005 and Nifty Smallcap Index edged 0.34 per cent higher to 5,741. Nifty500 gained 0.35 per cent to 9,776.
Realty index sole loser
Nifty Realty was the sole sectoral loser on NSE, as it skidded 0.07 per cent to 284.60. Nifty PSU Bank was the biggest gainer, jumping 1.92 per cent. Nifty Metal advanced 1.51 percent and Nifty IT jumped 1.62 per cent.
India VIX takes a plunge
India VIX, the measure of volatility in the market, tanked 8.80 per cent to 13.28, strengthening the bullish bias.
45 stocks kiss 52-week highs
As many as 45 stocks hit their 52-week highs on BSE. Major names among them included CRISIL, ICICI Bank, ICICI Security, JK Cement, Max Financial Services, Pfizer, Polycab India and Whirlpool.
Source: Economic Times