Indices end lower, Nifty settles at 10,930; YES Bank falls 9%

The benchmark indices ended marginally lower on Friday, weighed down by automobile and information (IT) stocks. The S&P BSE Sensex ended at 36,227, down 97 points, while the broader Nifty50 index settled at 10,930, down 47 points.

In sectoral indices, the Nifty IT index settled 1.1 per cent lower due to a fall in the shares of Infibeam Avenues which crashed 71 per cent to end at Rs 57.90. The Nifty Auto Index, too, fell 2.3 per cent driven by fall in Hero MotoCorp, Apollo Tyres and Mahindra & Mahindra.

Among individual stocks, YES Bank stock fell 9.5 per cent to Rs 183.90 on the BSE. The stock had hit an intraday low of Rs 166.15.

In broader markets, the shares of midcap and smallcap companies continued to remain under pressure on Friday as well, with the S&P BSE Midcap (14,762) and the S&P BSE Smallcap (14,643) indices hitting their respective 52-week lows in intra-day trade on the BSE.

Shares of engineering and construction firm Ircon International made a weak debut on the bourses by listing at Rs 412 per share, 13 per cent below their issue price of Rs 475 per share on the National Stock Exchange (NSE). The stock opened 14 per cent lower at Rs 410 on the BSE.

Shares of four companies – YES Bank, Maruti Suzuki, Eicher Motors and Hero MotoCorp – from the Nifty 50 index hit their respective 52-week lows on the National Stock Exchange (NSE) on Friday in intra-day trade. Shares of YES Bank hit an over two-year low of Rs 184, down 9% on the BSE in intra-day trade, falling 50% in past one month. The stock of private sector lender was trading at its lowest level since May 10, 2016.

Shares of Apollo Tyres hit a fresh 52-week low on Friday on reports that the minority shareholders of the company have rejected the re-appointment of Neeraj Kanwar as the managing director (MD).

Shares of United Breweries (UBL) hit a record high of Rs 1,464, up 3% on the BSE in early morning trade in an otherwise subdued market. The stock has outperformed the market by gaining 12% during the current week, as compared to a 1.2% decline in the S&P BSE Sensex. Since July 30 (Q1FY19), post-June quarter results, UBL have rallied 30% against 3% fall in the benchmark index.

The share price of Bank of Baroda cracked below Rs 100. The stock is trading below this level for the first time since October 2013.

Shares of Time Technoplast slipped 1.5 percent after promoters sold 1.1 percent stake of the company.

Here are some picks from the week gone by.

Company: Ashok Leyland CMP: 119.05 Mastermind

Company: Yes Bank CMP: 184.95 Mastermind

Company: Cipla Ltd. CMP: 650.40 Mastermind

Company: Tata Steel CMP: 590.15 Mastermind

Company: Kotak Mahindra CMP: 1147.35 Mastermind

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