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After Market: Sudden rally in YES Bank, IT bleeds, 16 stocks turn ‘oversold’

BSE benchmark Sensex leaped 169 points to 40,581.

, ETMarkets.com|
Dec 12, 2019, 05.02 PM IST
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Ujjivan Small Finance Bank debuted on the bourses at a premium of 59 per cent, but pared the gain and ended at Rs 55.90, up 51.08 per cent over issue price.
YES Bank scripted a solid rebound after falling over 30 per cent in the last five sessions and ended the day with a handsome gain of 6 per cent. Ujjivan Small Finance Bank debuted on the bourses with a hefty premium of 59 per cent.

BSE benchmark Sensex leaped 169 points to 40,581 while its NSE counterpart Nifty settled 61.65 points higher at 11,971.

"US Fed’s dovish stance on future rate trajectory and a strengthening rupee brought cheer to investors. Global sentiment is likely to turn positive in expectation of a delay in US tariff deadline, while expecting more positive developments from US-China trade talks,” said Vinod Nair, Head of Research at Geojit Financial Services.


Here is the lowdown of the movers and shakers of Thursday’s session:

Bumper listing for Ujjivan SFB
Ujjivan Small Finance Bank debuted on the bourses at a premium of 59 per cent, but pared the gain and ended at Rs 55.90, up 51.08 per cent over issue price. Its parent company, Ujjivan Financial Services, slid 3.48 per cent to Rs 328.60.

YES Bank shares rebound
After plunging 32 per cent in five sessions, the stock scripted a rebound and added 5.96 per cent to close at Rs 45.35. At one point, the stock had gained 13 per cent on BSE.

BPCL gains on reports of roadshow
Shares of BPCL rose 1.73 per cent to Rs 791.05 after media reports suggested that roadshows for its strategic stake sale are likely to start on Friday. The roadshows are likely to be conducted at London, USA and Dubai, the report said.

Key Sensex movers
Banks led the rally in Sensex as HDFC Bank, Kotak Mahindra Bank and SBI together added 128 points for Sensex. Among other key contributors were Tata Motors, L&T, RIL, IndusInd Bank and Axis Bank. Infosys and TCS were the biggest drags, bleeding a cumulative 94 points.

Most active stocks

YES Bank was the most active stock in terms of turnover on NSE, followed by TCS, Ujjivan Small Finance Bank, Indiabulls Housing Finance and SBI. In terms of value of the transaction, YES Bank, Ujjivan Small Finance Bank, Vodafone Idea, Tata Motors and Indiabulls Housing Finance.

IT sole loser
Among sectoral indices on NSE, Nifty IT index was the sole loser, drifting 1.04 per cent to 14,972 dragged by losses in heavyweights Infosys (down 2.63 per cent) and TCS (1.91 per cent). Nifty Metal index was the biggest gainer, jumping 2.36 per cent to 2,568.

Broader market moved in line
Broader market indices moved in tandem with their headline peers, as Nifty Midcap index added 0.82 per cent to 16,771 and Nifty Smallcap index gained 0.47 per cent to 5,604. Nifty500 jumped 0.57 per cent to 9,691.

16 stocks turn ‘oversold’
As many as 16 stocks saw their Relative Strength Index (RSI) slip below the 30-mark and turned ‘oversold’. They included Himadri Speciality, Shriram EPC, KEI Industries, Zensar Technologies, Garden Silk Mill, Mangalore Chemicals, Hatsun Agro Products and Nucleus Software, among others. In technical analysis, stocks crossing below 30 on RSI are considered oversold while those crossing above 70 are regarded overbought.
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