After Market: 78 stocks giving bullish signals; Lupin, ACC above 200-DMAs

NEW DELHI: Indian stock market closed the week on a positive note on Friday, backed by decent gains in bank and financial stocks amid positive global cues.

Softening crude oil prices and rupee's rise against the dollar also helped.

The optimism around liquidity boost by the government lifted bank and NBFC heavyweights.

After rising 388 points intraday, Sensex cooled off a bit, eventually settling 269 points, or 0.75 per cent, up at 36,076.72, with 25 stocks in the green and six in the red.

The NSE Nifty jumped 80 points or 0.74 per cent to shut shop at 10,859.90. Among the 50 stocks in the Nifty pack, 38 logged gains and 12 incurred losses.

In sync with the benchmark Sensex, the BSE Midcap and Smallcap indices settled 0.93 per cent and 0.86 per cent up, respectively.

We walk you through the highlights of Friday's session

NBFCs, bank stocks rise
Most NBFC and bank stocks logged healthy gains on optimism over liquidity infusion. The Finance Ministry is readying to infuse Rs 28,615 crore in seven state-run banks by December end to help meet the regulatory norms on maintaining adequate capital buffers.

Shares of PMC Fincorp, Welspun Investments & Commercials, Reliance Capital, Bajaj Finance and Bajaj Finserv featured among the top gainers in the NBFC space. Syndicate Bank, Union Bank of India, Canara Bank, Bank of Baroda and State Bank of India emerged among the top gainers in the PSU bank sector.

Lemon Tree Hotels surges over 8%
Shares of Lemon Tree Hotels closed 8.50 per cent up at Rs 74.65 after India's largest chain in the mid-price hotel segment formed a joint venture (JV) with an affiliate of Warburg Pincus. The JV marks Lemon Tree Hotel's entry into a new business segment focusing on the development of institutional-grade rental housing accommodation.

Peninsula Land jumps 5%
Shares of realty firm Peninsula Land closed 4.90 per cent up at Rs 11.34 on the BSE after media reports said that the company has signed an agreement to acquire Rockfirst Real Estate, Goodhome Realty and Truewin Realty.

PVR to raise Rs 750 crore
Multiplex chain operator PVR is seeking shareholders nod to raise up to Rs 750 crore through issue of securities to qualified institutional buyers. The company said in a regulatory filing that its board had on December 21 approved issue of equity shares of the company with a face value of Rs 10 each or other securities in one or more tranches qualified institutional buyers (QIBs) subject to the approval of the shareholders. Shares of the company settled with a nominal gain of 0.17 per cent at Rs 1,580.05 on BSE.

Kansai Nerolac eyes acquiring Perma Construction Aids
The furniture and paints player Kansai Nerolac has entered into a share purchase agreement (SPA) to acquire 100 per cent equity stake in Perma Construction Aids for a total consideration of Rs 29.10 crore. “Kansai Nerolac is expanding its range so as to provide a complete solution to our customers. Construction chemical is complementary to paints and has synergies with paints distribution networks. The company will be strengthening its existing product portfolio with this acquisition," said HM Bharuka, vice chairman and managing director at Kansai Nerolac Paints. Shares of the company erased most gains of the early session and settled with a nominal gain of 0.13 per cent at Rs 480.45 on BSE.

Jaypee Infratech loses steam
Shares of Jaypee Infratech settled 0.26 per cent down at Rs 3.88 after climbing 3 per cent in the early trade after the lenders and home buyers of the debt-ridden company approved evaluation criteria to be adopted to select a bidder for taking over the bankruptcy-bound realty firm.

Rs 1.08 lakh crore wealth created
Friday's rally bolstered the market capitalisation (m-cap) of all the BSE listed firms by Rs 1.09 lakh crore. M-cap of BSE firms jumped to Rs 1,44,11,812.79 crore from Rs 1,43,03,011.82 crore on Thursday.

Lupin, ACC above 200-DMAs
Lupin, HIL, ACC, Titan Company, City Union Bank, Petronet LNG, Ambuja Cements and Tata Chemicals featured among the stocks that witnessed positive breakouts and traded above 200-DMAs today. On the flip side, INOX Leisure, Dr Lal PathLab, Goldstone Technologies, Just Dial and Asian Hotels (West) appeared among stocks that traded below their 200-DMAs.

78 counters show a potential rise
Momentum indicator moving average convergence divergence, or MACD, showed bullish crossovers on 78 counters on BSE. Among the stocks that showed bullish crossovers were NCC, Jet Airways, Adani Ports, GSFC, Wockhardt, Grasim Industries, Tech Mahindra, Tata Elxsi and Mindtree. On the other hand, Asian Paints, Centrum Capital, Cimmco, Apollo Hospitals, International Paper and International Paper featured among the 77 stocks that showed bearish crossovers, signalling that they may witness a fall in coming sessions.

Spurt in OI
Ramco Cements, with a change of 29.86 per cent, led the pack of stocks that witnessed the biggest spurt in open interest on NSE today. It was followed by, PC Jeweller (27.89 per cent), Siemens (23.82 per cent), Reliance Capital (23.60 per cent) and Jubilant Foodworks (21.39 per cent).

Oversold & overbought stocks
Momentum oscillator Relative Strength Index, or RSI, showed 45 stocks, including Arvind, Rolta India, Universal Starch, Atlas Jewellery, Natco Economicals and UTL Industries, in the oversold zone on BSE. On the other hand, Arrow Greentech, Alexander Stamps, IndiaNivesh, Ratnabhumi Developer and Clarus Infrastructure Realties featured among the 35 stocks that settled in the overbought zone on BSE.

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