After Hours: Khadim puts up a flop show; realty, auto gain
By Swati Verma
NEW DELHI: The bears once again got better off the bulls on Dalal Street, which made the domestic equity market end in the negative territory for the second session in a row.
Mixed global cues and disappointing macroeconomic data dragged the indices lower on Tuesday. The S&P BSE Sensex lost 92 points to close the session at 32,942 with Hero MotoCorp being the top gainer (up 2 per cent) and L&T (down 2 per cent) the biggest loser.
The broader Nifty50 index of the National Stock Exchange (NSE) slipped below its crucial psychological level of 10,200 to end at 10,187. As many as 32 components of the index settled in the red.
Here’s a quick recap of the newsmakers:
Listless debut of Khadim India
Footwear retailer Khadim India saw a muted debut, listing at Rs 727 on BSE, down 3.07 per cent from its issue price of Rs 750. The Rs 543-crore initial public offer (IPO), which had been sold in Rs 745-750 price band between November 2 and 6, was subscribed last 1.90 times. The stock shut shop at Rs 688.50 apiece on BSE, down 8 per cent from its issue price.
Tinplate hits upper circuit
Shares of Tinplate, a Tata Group enterprise and producer of tin-coated and tin free steel sheets in India, hit their upper circuit limit of 20 per cent after the company had reported a 71 per cent rise in September quarter profit at Rs 17.81 crore. On Tuesday, the stock settled at Rs 288 apiece on BSE.
As many as 28 securities hit their fresh 52-week low on NSE. Notable among them were Dena Bank (down 2.50 per cent), Gemini Communication (down 7 per cent) and Godrej Agrovet (down 1 per cent). On the other hand, 51 securities hit fresh 52-week highs.
Spurt in open interest
Shares of Bharti Inftratel witnessed the biggest spike in open interest contracts at 44.88 per cent, followed by Repco Home Finance (35.67 per cent) and Bata India (32.89 per cent).
IT stocks bleed the most
Taking a sharp u-turn, IT stocks fell the most, which caused the Nifty IT index to shed 0.60 per cent to settle at 11,168, with six of the 10 constituents ending in the red. Shares of MindTree (down 2 per cent), TCS (down 2 per cent) and Infibeam Corporation (down 1 per cent) were the top laggards.
JP Associates tumbled 14%
Shares of Jaiprakash Associates tumbled over 14 per cent after the Supreme Court directed its non-institutional directors to appear in person before it next week and furnish details of their personal assets. The scrip closed at Rs 20 apiece, down 7 per cent on BSE.
Realty, auto only pockets in green
Auto and realty counters emerged as the sweet spots in the otherwise bearish market. While the Nifty Auto index ended 0.20 per cent higher at 11,157, the Nifty Realty index settled 0.48 per cent higher at 304 with six out of 10 constituents ending in the green.
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Via:: Economic Times – Stocks