After Hours: Bears back in driver’s seat; Lupin, Infy slip; realty climbs
By Swati Verma
NEW DELHI: The bears came in full force on Thursday and thrashed the bulls black and blue on Dalal Street, as investors turned cautious ahead of September quarter GDP data, due later in the day.
This apart, November series F&O expiry and weak global cues helped the bears.
The S&P BSE Sensex tanked 453 points to settle at 33,149 with Dr Reddy’s (up 0.45 per cent) being the top gainer and Kotak Mahindra Bank (down 2.63 per cent) the worst laggard.
The broader Nifty50 index of the National Stock Exchange (NSE) shed 135 points to close at 10,227, with 39 constituents ending in the red. Both the headline indices witnessed their biggest single-day fall since September 22.
Here’s a lowdown on the top stocks/sectors that hogged limelight today:
Lupin catches cold
Shares of the drugmaker plunged nearly 2 per cent on BSE to settle at Rs 819 apiece. On Wednesday, reports came that the drug major was recalling a single lot of Pravastatin Sodium USP tablets in the US, according to the USFDA. The US health regulator, however, did not give details or the number of bottles being recalled. A query sent to the company remained unanswered, reported PTI. Pravastatin Sodium is indicated for reducing levels of bad cholesterol and triglycerides in the blood.
Infosys slips as buyback begins
Shares of the IT bellwether slipped over 1 per cent during the fag-end of the session as the company kicked off its mega Rs 13,000 crore share buyback offer. It is looking to buy back over 11.30 crore shares from eligible investors at Rs 1,150 apiece. This has been the first share buyback in the IT company’s 36-year-long history. The stock settled at Rs 975 apiece, down 0.85 per cent on BSE.
TBZ loses sheen
Shares of the jewellery maker Tribhovandas Bhimji Zaveri (TBZ) dropped over 15 per cent after the company said its net profit for September quarter
plunged nearly 90 per cent YoY to Rs 0.80 crore. The stock eventually settled at Rs 123 apiece, down nearly 11 per cent on BSE.
Spurt in open interest
Britannia witnessed the biggest spike in open interest contracts at 149.18 per cent, followed by Apollo Hospitals (47.15 per cent) and Petronet LNG (46.89 per cent).
Bank stocks bleed
Banking stocks fell the most and caused the Nifty PSU Bank index to plunge over 2 per cent to 3,856 with all the 12 constituents ending in the red. The Nifty Bank index saw its biggest single-day fall in over 2 months to settle at 25,332, down 463 points. Punjab National Bank (down 2.62 per cent), Kotak Mahindra Bank (down 2.50 per cent) and Axis Bank (down 2.49 per cent) were the top losers.
Realty bucks trend
Shrugging off the big sell-off, realty stocks advanced in trade, with Nifty Realty index gaining over 1 per cent to 325. Out of the 10 constituents, nine ended in the green.
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Via:: Economic Times – Stocks