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Post Session: Sensex extends winning streak; Nifty ends at 10,860

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Dion Global

28 Dec 2018

Strong global cues, weaker crude oil and buying in financial and pharma counters helped Indian benchmark indices settle in the positive territory for the third consecutive session on Friday. Also, Nifty has kicked off January series on a strong note, ending above 10,850-mark. Asia stocks advanced on Friday after Wall Street ended volatile trade in positive territory, adding to the previous session's big gains, although lingering investor jitters helped support safe-haven currencies. US oil prices rose on Friday to claw back some of the ground they lost in the previous session, but growth in US crude stockpiles and ongoing concerns about the global economy kept markets under pressure. Brent crude had yet to trade. It dropped 4.24 per cent, or $2.31, the day before to settle at $52.16 per barrel. Overseas, European markets were higher Friday morning, following a volatile session for stocks where the Dow erased a 600-point drop to close positive.

Among individual stocks, Lemon Tree Hotels ended 9 per cent higher after the company has formed a joint venture (JV) with an affiliate of Warburg Pincus, a leading global private equity firm, to create a co-living platform. The stock climbed as much as 12 per cent in the intra-day trade. Also, Real estate developer Peninsula Land surged 12 per cent in the intraday trade after it entered into an agreement to acquire 86 per cent of equity shares of Rockfirst Real Estate, thereby making it a wholly-owned subsidiary of the company. The stock eventually settled at 5 per cent.

The 30-benchmark closed at 36076.72 up by 269.44 points or by 0.75 per cent and then NSE Nifty was at 10859.9 up by 80.1 points or by 0.74 per cent. The BSE Sensex touched intraday high of 36194.78 and intraday low of 35911.99 The NSE Nifty touched intraday high of 10893.6 and intraday low of 10817.15.

Sun Pharmaceutical Industries Ltd. (Rs. 424.60,+2.98%), Bajaj Finance Ltd. (Rs. 2636.75,+2.13%), Vedanta Ltd. (Rs. 199.40,+1.76%), Housing Development Finance Corporation Ltd. (Rs. 1980.10,+1.72%), YES Bank Ltd. (Rs. 181.55,+1.68%) were the top gainers of the BSE Sensex.

On the list of the top losers of the BSE Sensex were Coal India Ltd. (Rs. 242.35,-2.92%), Tata Consultancy Services Ltd. (Rs. 1895.80,-0.71%), Bajaj Auto Ltd. (Rs. 2723.30,-0.47%), Bharti Airtel Ltd. (Rs. 316.20,-0.05%), Hero MotoCorp Ltd. (Rs. 3130.20,-0.04%).

Sector wise CDS index was at 20552.37 up by 432.19 points or by 2.15%. Symphony Ltd. (Rs. 1178.95,+7.98%), Titan Company Ltd. (Rs. 922.50,+3.87%), Whirlpool of India Ltd. (Rs. 1372.00,+3.43%), PC Jeweller Ltd. (Rs. 87.80,+3.29%), TTK Prestige Ltd. (Rs. 7500.00,+2.09%). So was the BSE HCS index was at 13830.29 up by 174.25 points or by 1.28%. Bliss GVS Pharma Ltd. (Rs. 156.25,+11.37%), Alembic Ltd. (Rs. 49.15,+7.43%), Merck Ltd. (Rs. 3070.00,+4.72%), Healthcare Global Enterprises Ltd. (Rs. 200.00,+3.84%), SMS Pharmaceuticals Ltd. (Rs. 68.10,+3.42%).

On the flip side BSE IT index was at 14052.06 down by 8.77 points or by 0.06%. MIC Electronics Ltd. (Rs. 1.54,-4.94%), Genesys International Corporation Ltd. (Rs. 135.25,-4.01%), Datamatics Global Services Ltd. (Rs. 106.05,-3.11%), Brightcom Group Ltd. (Rs. 2.62,-2.96%), Sasken Technologies Ltd. (Rs. 663.00,-2.44%). BSETECk index was at 7054.93 down by 8.44 points or by 0.12%. Bharti Infratel Ltd. (Rs. 263.65,-1.24%), Tata Consultancy Services Ltd. (Rs. 1895.80,-0.71%), Just Dial Ltd. (Rs. 504.25,-0.68%), DB Corp Ltd. (Rs. 168.10,-0.50%), Himachal Futuristic Communications Ltd. (Rs. 21.05,-0.24%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2969 , shares advanced were 1681 while 1110 shares declined and 178 were unchanged.