Indices end flat, Sensex slips 27 pts; Suzlon Energy gains 31%
The benchmark indices settled flat on Friday amid a rise in automobile and metal stocks.
The S&P BSE Sensex ended at 35,871, down 27 points, while the broader Nifty50 index settled at 10,792, up 2 points.
Among sectoral indices, Nifty Auto index rose 1.5 per cent driven by gains in Motherson Sumi Systems and Tata Motors. The Nifty Metal index, too, rose 1.65 per cent led by Jindal Stainless (Hisar) and Welspun Corp.
In the broader market, the S&P BSE MidCap index gained 54 points, or 0.38 per cent to 14,170, while S&P BSE SmallCap index settled at 13,518, up 104 points, or 0.77 per cent.
Shares of Reliance Nippon Life Asset Management surged 20 per cent to Rs 224 in intra-day trade, rallying 44 per cent in past two trading sessions on the BSE, after Reliance Capital decided to put its stake in the company up for grabs. The stock settled at Rs 199, up 6.3 per cent on Friday.
Suzlon Energy jumped 31 per cent to end at Rs 5.80 on the BSE. In intra-day deals, the stock had touched a high of Rs 6.15, rallying 68.5 per cent in the past two trading sessions from a level of Rs 3.65 on Wednesday,
Shares of Bata India hit a new high of Rs 1,301 apiece, up 1 per cent on the BSE, surging 50 per cent in past four months after it reported a strong earnings growth in December 2018 (Q3FY19) quarter and foreign portfolio investors buying. In comparison, the S&P BSE Sensex was up 6 per cent during the same period.
Shares of Suzlon Energy and GVK Power & Infrastructure rallied by up to 26 per cent on Friday in an otherwise subdued market. In comparison, the S&P BSE Sensex was down 0.09 per cent at 35,867 points at 12:45 pm. Suzlon Energy moved higher by 26 per cent to Rs 5.60 on the BSE in intra-day trade today, surging 53 per cent in the past two trading days from a level of Rs 3.65 on Wednesday. The trading volumes on the counter more than doubled with a combined 97.39 million equity shares changed hands on the NSE and BSE so far.
Shares of Seamec hit a 52-week high of Rs 347 apiece, up 7 per cent on the BSE in an otherwise subdued market. In the past two months, the stock of shipping company zoomed 73 per cent from the level of Rs 201, after it reported a strong set of numbers for December 2018 quarter (Q3FY19). In comparison, the S&P BSE Sensex was up 1 per cent during the same period. Seamec is trading close to its all-time high of Rs 385 touched on February 18, 2000, on the BSE in the intra-day deal.
Shares of GMR Infrastructure gained 2 percent intraday Friday after company signed concession agreement to develop a new international airport at Greece. GMR Airports, a subsidiary of GMR Infrastructure along with Greek partner TERNA Group has signed the concession agreement to develop a new international airport of Heraklion at Crete, Greece.
Shares of Dynamatic Technologies rose 5.5 percent in the early trade on Friday as company signed a MoU with SAAB Technologies. The company has signed a Memorandum of Understanding (MoU) with SAAB Technologies with an intent to explore future joint opportunities in commercial and defence related work, including Gripen fighter aircraft.
Here are some picks from the week gone by.