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    After Market: DHFL surges 32%, YES Bank 5%; Titan rallies too. 133 stocks readying to rise

    Synopsis

    Midcaps and smallcaps jumped up to 1.72 per cent, outperforming the Sensex.

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    NEW DELHI: Hopes of the fourth rate cut of Calendar 2019 by the Reserve Bank of India gave a boost to domestic equities on Tuesday, while global stocks also stabilised amid China’s signals that it will not let its currency suffer a steep fall.

    Domestic equity benchmarks Sensex and Nifty logged healthy gains, as sentiments was influenced by reports that the government was mulling options to boost the economy and check outflow of foreign funds.

    “We are expecting a 50 bps rate cut on Wednesday. Besides, we are expecting that the government will dilute its recent Budget proposals to increase public shareholding to 35 per cent and slap a tax surcharge on the super-rich. Steps to give relief to the auto sector may also come soon," G Chokkalingam, Founder & Managing Director at Equinomics Research and Advisory, told ETMarkets.com.

    The 30-share Sensex took a 277 points or 0.75 per cent leap, underpinned by gains in 22 components. Nifty ended at 10,948, up 86 points or 0.79 per cent, with 38 of its 50 constituents logging gains.

    Midcaps and smallcaps jumped up to 1.72 per cent, outperforming the Sensex.

    We walk you through the key highlights of Tuesday’s session:

    Investors make Rs 1.16 lakh crore in a day!
    Tuesday’s stocks rally shot up the cumulative market capitalisation of BSE-listed firms to Rs 1,39,54,027.13 crore from Rs 1,38,37,963.18 crore on Monday, making investors richer by Rs 1.16 lakh crore in a day.

    Spurt in OI
    With a change of 70.98 per cent, SRF led the pack of stocks that witnessed the biggest spurt in open interest on NSE. It was followed by Berger Paints (43.60 per cent), Torrent Power (28.65 per cent), Pidilite Industries (24.25 per cent) and Cipla (23.57 per cent).

    Most traded stocks
    With 14.16 crore shares changing hands, Vodafone emerged as the most traded stock on NSE, followed by YES Bank (number of shares traded: 13.48 crore), DHFL (6.73 crore), Ashok Leyland (3.74 crore) and Dish TV India (3.70 crore). On the other hand, Reliance Industries (Rs 1,511.29 crore) finished as the most active stock in value terms. HDFC Bank (Rs 1,360.81 crore), ICICI Bank (Rs 1,252.10 crore), YES Bank (Rs 1,126.82 crore) and HDFC (Rs 1,099.37 crore) also featured on the table of most active stocks in value terms.

    133 stocks readying to rise
    Momentum indicator MACD showed 133 stocks, including DHFL, NCC, Dabur India, SRF, Tech Mahindra, J&K Bank and Godrej Consumer Products, with bullish crossovers, signalling these stocks may log gains in the coming sessions. On the other hand, Dilip Buildcon, Emami and Swastika Investmart were among the 36 stocks that showed bearish crossovers.

    124 stocks in oversold zone
    Momentum oscillator Relative Strength Index, or RSI, showed 124 stocks, including Vodafone Idea, Reliance Naval, Arvind Fashions, Karnataka Bank, JK Tyre & Industries and Wockhardt, in the oversold zone on BSE. On the other hand, Modella Woollens, Raghuvansh Agrofarms and Yashraj Containeurs were among the 14 stocks that entered the overbought zone.

    YES Bank top Sensex gainer
    Shares of the private lender ended the day at Rs 85.40, up 5.30 per cent, leading the pack of Sensex gainers, after reports that the company is preparing to raise funds through qualified institutional placement (QIP) later this week.

    DHFL surges 32%
    Shares of Dewan Housing Finance Corporation (DHFL) logged a robust gain of 32.06 per cent to close the day at Rs 55.40 after the company informed the bourses that its special committee for debt resolution had approved the draft resolution plan that the company had formulated in consultation with the committee and its financial adviser Ernst & Young.

    J&K Bank jumps 10%
    Shares of Jammu & Kashmir Bank ended the day with a healthy gain of 9.97 per cent at Rs 37.50 as the proposed changes in Article 370 has opened the doors for the Centre to take control of it.

    Titan shares inch up
    A day after falling 3 per cent, shares of Titan closed with a nominal gain of 0.12 per cent at Rs 1,038.05 after the company reported a lower-than-expected 6.17 per cent year-on-year (YoY) growth in standalone profit at Rs 370.73 crore for the quarter ended June 30. Analysts in an ETNOW poll had projected Rs 398 crore profit for the quarter.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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