Sensex gains 127 pts, Nifty ends at 11,624 on last day of FY19

The benchmark indices ended on a positive note for the second straight day on Friday, the last trading day of the financial year (FY19) 2018-19 amid buying in metals, pharma, and auto stocks.

The S&P BSE Sensex ended at 38,673, up 127 points or 0.33 per cent with Vedanta being the top gainer and IndusInd Bank the biggest loser.

The NSE’s Nifty50 index closed above the crucial 11,600 level at 11,624, up 54 points or 0.47 per cent.

On a weekly basis, Sensex gained around 1.30 per cent while Nifty added 1.45 per cent.

During the financial year, Sensex climbed 16 per cent and Nifty50 index gained around 14 per cent.

In the broader market, the S&P BSE Midcap index surged 151 points or 0.99 per cent to close at 15,480. The S&P BSE SmallCap rose 109 points or 0.73 per cent to end at 15,027.

Shares of Ipca Laboratories, Varun Beverages, Merck, Adani Gas, Future Lifestyle, Gujarat Fluorochemicals and Muthoot Finance were among 14 stocks hitting their respective all-time highs on the BSE on Friday.

DLF shares hit an over six-month high of Rs 207 in the intra-day deal on the BSE after the real estate developer successfully raised Rs 3,173 crore through qualified institutional placement (QIP). The stock, eventually, closed at Rs 201.60, up nearly 4 per cent.

Metal stocks advanced the most, followed by pharma and auto counters. The Nifty Metal index ended over 2 per cent higher at 3,044.

Power Finance Corporation (PFC) shares hit a fresh 52-week high of Rs 124, up 6 per cent, on the BSE, after the company concluded the acquisition of Rural Electrification Corporation (REC) by paying Rs 14,500 crore to the Central government. PFC surpassed its previous high of Rs 123 recorded on March 19, 2019 in intra-day trade.

Vodafone Idea shares surged 17 per cent to Rs 20.45 on the BSE in early morning trade on Friday on the back of heavy volumes. The stock turned ex-date for rights issue today. At 10:33 AM, the stock had erased its early morning gain and was trading 6 per cent higher at Rs 18.50 on the BSE. It touched an intra-day low of Rs 17.85, and is just 4.4 per cent away from its record low price of Rs 17.06 (adjusted to rights issue) touched on Thursday, March 28.

Shares of MSTC were locked in the upper circuit of 5 per cent at Rs 117 in intra-day trade on the BSE, after making a weak debut. The stock was listed at Rs 111, a 7.5 per cent below its issue price of Rs 120 on the BSE. It has hit intra-day low of Rs 110 so far. Till 10:11 am, around 31,000 equity shares had changed hands and there were pending buy orders for 13,128 shares on the BSE.

SBI Life Insurance shares slipped 6 per cent to Rs 577 on the BSE in early morning trade on reports that BNP Paribas Cardif had sold its stake in the company through the open market. At 09:15 am, around 52.23 million shares, representing 5.2 per cent of total equity, of SBI Life Insurance changed hands on the counter on the BSE at the price of Rs 582 via block deals, BSE data shows.

Here are some picks from the week gone by.

Company: Dabur India CMP: 409.00 Mastermind

Company: Welspun Corp CMP: 136.70 Mastermind

Company: Time Technoplast CMP: 102.80 Mastermind

Company: HEG Ltd. CMP: 2093.00 Mastermind

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