After Market: Stocks in overbought zone, 52-week lows & SBIs dark day
NEW DELHI: Disappointments over SBIs June quarter earnings and trade war tensions between the US and China dampened investor sentiment on Dalal Street on Friday. The S&P BSE Sensex snapped its winning streak to slip 155 points, or 0.41 per cent, to settle at 37,869, while NSEs Nifty50 index fell 41.20 points, or 0.36 per cent, to end at 11,429.
Heres a quick look at the movers and shakers of Fridays trade:
SBI tanks 4% on shock Q1 loss
State Bank of India (SBI) on Friday reported a standalone net loss of Rs 4,875.85 crore for June quarter, which fell way short of Rs 242 crore profit projected by analysts in an ETNow poll. This was third straight quarter of losses for the largest domestic lender in terms of assets. As a result, the stock closed 4 per cent lower at Rs 304.45 apiece on BSE.
Spurt in open interest
Jet Airways witnessed the biggest spurt in open interest at 57.15 per cent, followed by GAIL (25.78 per cent), Voltas (22.41 per cent), Bata India (21.48 per cent) and SBI (21.43 per cent).
AU Small Finance Bank went up 10 per cent in the intraday trade amid reports that Warburg Pincus has sold 5 per cent stake in the company to a marquee investor in a block deal. According to Times Now, Axis Bank was the banker of the block deal. At close, the stock stood at Rs 694.60 apiece on BSE, up 8 per cent.
Jet Airways ended over 8 per cent lower at Rs 276.40 after the airline firm deferred consideration of unaudited financial results for the first quarter of 2018-19 on Thursday. On Friday, BSE and NSE sought specific details about the company's board meetings and factors leading to the decision. READ MORE
Matrimony.com dropped a sharp 19 per cent to hit the 52-week low of Rs 595.35 apiece on BSE after a block deal. The stock shut shop at Rs 617.75, down 15.65 per cent.
Grameen IPO fully subscribed on Day 3
The initial public offering of microfinance firm CreditAccess Grameen was subscribed 2.09 times till 3 pm on the last day of bidding on Friday. The Rs 1,131 crore IPO, received bids for 2,58,55,620 shares against the total issue size of 1,88,29,684 shares, data available with the NSE till 03:45 pm showed.
Turkish lira crashes to record low
Turkeys lira plunged as much as 14 per cent on Friday as worries about President Tayyip Erdogan's influence over monetary policy and worsening US relations snowballed into a market panic that also hit shares of European banks. READ MORE
Stocks in overbought/oversold zone
Reliance Naval, JK Paper, International Paper, Polyplex Corporation, Goldstone Tech and Vinati Organics were among 13 stocks that entered overbought zone. On the contrary, two stocks – Optiemus Infracom and Windsor Machines slipped into oversold territory.
As many as 36 stocks hit 52-week lows during the day. Prominent among them included Can Fin Homes, Gayatri Highways, Hanung Toys and Textiles, Jain Studios, Jet Airways (India), RPG Life Sciences. On the contrary, 23 scrips hit 52-week highs.