After Market: 147 stocks signal bearishness; realty bucks trend

After Market: 147 stocks signal bearishness; realty bucks trend

Bear1-Getty-1200Domestic equity benchmarks BSE Sensex and NSE Niftyslipped over half a per cent in Friday’s trade after Fitch Ratings cut India’s GDP growth projection for next financial year to 6.8 per cent from 7 per cent earlier on weaker-than-expected growth momentum.

Snapping its eight-day winning streak, the 30-share Sensex settled 222 points down at 38,164, while the 50-pack Nifty shut shop 64.15 points down at 11,456.

Let’s check out the movers and shakers of Friday’s trade.

147 stocks look bearish
As many as 147 stocks, including Power Finance, Coal India, NMDC, Allahabad Bank, TCS and ICICI Prudential Life, showed bearish crossovers on momentum indicator moving average convergence divergence, or MACD, on BSE. On the other hand, eight stocks, including Reliance Naval, MEP Infra, Ducon Infratechnologies, ICICI Lombard and Karda Constructions witnessed bullish crossovers.

280 stocks hit lower circuits
Unitech, Binani Industries, Dion Global and Ruchi Soya were among 280 stocks that hit lower circuits on BSE, while Frontline Securities, Reliance Communications, Polychem, Ugar Sugar Works and Jai Balaji were among 153 stocks that hit upper circuits.

Nifty Bank kisses 30,000
Before closing 0.84 points down at 29,582, Bank Nifty hit the 30,000-mark for the first time ever. Banking majors SBI, PNB, ICICI Bank and HDFC Bank all slipped and settled 1.94 per cent, 2.67 per cent, 0.37 per cent and 1.04 per cent lower at Rs 297.90, Rs 91.05, Rs 391.45 and Rs 2,275.10, respectively. IDFC First Bank, Axis Bank and YES Bank advanced up to 1 per cent.

Power, realty, CG indices only winners
Except for BSE Power (up 0.85 per cent), Realty (up 0.70 per cent) and Capital Goods (up 0.60 per cent) indices, all other sectoral indices ended in the red on BSE. The BSE Energy index plunged the most at 2.01 per cent, followed by Telecom (down 1.42 per cent) and Auto (down 1.42 per cent) indices and Bankex (down 0.75 per cent).

Kansai Nerolac slips
Shares of Kansai Nerolac plunged as much as 4.67 per cent after global financial firm CLSA downgraded the stock to ‘sell’, citing demand headwinds as the auto sector is reeling under pressure. The scrip, however, gave up the gains and closed 2.48 per cent down at Rs 449.10.

Who moved my Sensex
NPTC, L&T, Asian Paints, Tata Steel, Infosys, ONGC, Coal India, Axis Bank and YES Bank capped the downside of BSE Sensex, while Tata Motors, Reliance IndustriesNSE -2.45 %, Maruti Suzuki, State Bank of India and Kotak Mahindra BankNSE -1.14 % proved the biggest drag.

Most traded stocks
With over 21.10 crore shares changing hands, Reliance Communications emerged as the most traded stock on NSE. It was followed by Suzlon (number of shares traded: 9.46 crore), Punjab National Bank (6.96 crore) and NTPC (5.37 crore). On the other hand, HDFC Bank (Rs 1,736 crore) finished as most active stock in terms of value, followed by Reliance Industries (Rs 1,558 crore) and Maruti Suzuki (Rs 1,132 crore).

SpiceJet flies high
Shares of low-cost carrier SpiceJet climbed over 7 per cent after data showed its passenger traffic rose 5.62 per cent in February on a month-on-month basis. Passenger load factor for SpiceJet jumped to 94 per cent in February from 90.9 per cent in January, while InterGlobe Aviation-owned IndiGo’s load factor grew 88.40 per cent against 86.40 per cent in January.