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After Market: Bharti Airtel, Ruchi Soya surge; 88 stocks give bearish signal

Bharat Dynamics, L&T Finance and HUL were among stocks that traded above their 200-DMAs.

, ETMarkets.com|
Updated: Apr 11, 2019, 06.06 PM IST
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Investors turned wary as dovish US and European Union central banks raised worries about a global economic slowdown.
NEW DELHI: Benchmark equity indices Sensex and Nifty closed with muted gains on Thursday, reflecting cautious market sentiment as voters cast ballots in 91 constituencies in the first phase of the general election.

Investors turned wary as dovish US and European Union central banks raised worries about a global economic slowdown. Negative Asian peers weighed on sentiment but a stronger rupee came to rescue.

With a nominal gain of 22 points, or 0.06 per cent, Sensex finished at 38,607, while NSE’s Nifty50 closed 12 points, or 0.11 per cent, higher at 11,596.

Let’s take a look at the movers and shakers of Thursday’s session:

Bharti Airtel shares rise 2%
The telecom major has fixed April 24 as 'record date' to determine shareholders eligible to apply for shares under the forthcoming Rs 25,000 crore rights issue, which analysts feel will help it pare debt and improve liquidity. Shares of the company settled 2.19 per cent higher at Rs 347.50.

Ruchi Soya surges 10%
Shares of Ruchi Soya Industries surged 9.75 per cent to settle at Rs 6.98. An ET report suggested that Patanjali Ayurved’s proposed acquisition of Ruchi Soya has reached the final stages with the committee of creditors (CoC) scheduled to meet next Tuesday to clear the deal.

Jet Airways shares decline
Shares of beleaguered airline Jet Airways closed 1.14 per cent lower at Rs 260 as founder Naresh Goyal pledged his 26 per cent stake in the ailing airline as security for loans from Punjab National Bank. Meanwhile, media reports suggested that five companies have expressed interest in picking up stakes in the airline.

Vedanta's shares fall 4%
Shares of the company closed 3.72 per cent down at Rs 181.30 after the UK Supreme Court on Wednesday ruled in favour of Zambian villagers seeking the right to sue its subsidiary Konkola Copper Mines (KCM) in the UK courts.

RVNL makes flat market debut
Shares of Rail Vikas Nigam (RVNL) closed at Rs 19.05, up with a nominal gain of 0.26 per cent against its issue price of Rs 19. The Rs 480 crore IPO, which was sold between March 29 to April 3, was subscribed 1.83 times.

DHFL shares jump 3%
Extending the gains to the third consecutive session, shares of Dewan Housing Finance Corporation (DHFL) closed 2.98 per cent higher at Rs 172.65. According to a report, the company made timely payment of interest & principal of non-convertible debentures issued on private placement basis on April 10.

Lupin rises 1% on USFDA nod
Shares of Lupin closed 0.75 per cent higher at Rs 810 after the pharm major said it had received the nod from USFDA to market its testosterone gel used for treating low or no testosterone in men.

88 stocks give bearish signal
Momentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 88 counters on BSE, indicating potential fall for them in coming sessions. Among them were Bharti Airtel, Jaiprakash Associates, Welspun Corp, Andhra Bank and Adani Gas. On the other hand, Mahindra & Mahindra, GSFC, Exide Industries, Deepak Fertilisers and Gujarat Gas were among the 52 counters that showed bullish crossovers.

HUL, Tata Power above 200-DMAs
Bharat Dynamics, L&T Finance, Tata Power, Shriram Transport Finance Corporation and Hindustan Unilever (HUL) were among the stocks that witnessed positive breakouts and traded above their 200-DMAs. Tata Steel, Jindal Steel, V-Mart Retail, Cochin Shipyard and Indian Bank were among the ones who traded below their 200-DMAs.
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