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Mapping the market: Short-lived mayhem; mixed fortunes for IT and pharma

Shares of the IT firms with huge exposure to the US plunged up to 9.5% on Wednesday after Donald Trump beat Hillary Clinton to become the 45th US President.

, ETMarkets.com|
Updated: Nov 09, 2016, 05.52 PM IST
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As many as 60 stocks from the BSE200 index hit their one-year lows on Wednesday due to a massive plunge in early trading.
As many as 60 stocks from the BSE200 index hit their one-year lows on Wednesday due to a massive plunge in early trading.
NEW DELHI: Every major selloff is a buying opportunity, but seldom have such contrasting trends got played out on the same day. The bulls made a killing on the 1,600-point crash in the Sensex earlier in the day and helped the index pare most of the losses by the end. But what really moved the market and why? We captured the key trends from the day’s proceedings.

Trump spooked IT stocks: Shares of the IT companies with huge exposure to the US market plunged up to 9.5 per cent on Wednesday after Donald Trump beat Hillary Clinton to become the 45th US President. Trump had earlier expressed views about bringing back jobs to the US. TCS was the worst performer from the BSE Sensex pack, plunging 4.93 per cent to Rs 2,171.05; while Infosys slipped 2.74 per cent to Rs 955.85 and Wipro fell 1.27 per cent to Rs 447.20.



Drug firms made a killing: Healthcare companies heaved a sigh of relief on Wednesday after Democrat presidential nominee Hillary Clinton lost the election. Clinton was said to have had reservations about drug pricing in the US market. Consequently, the BSE Healthcare index ended up being the biggest sectoral gainer for the day with a 1.48 per cent rise. From the pack, blue-chip Dr Reddy’s surged 5.04 per cent to Rs 3,271, Sun Pharma rose 4.07 per cent to Rs 661.10 and Lupin 1.31 per cent to Rs 1,529.



Smallcaps took a hard knock: Shares of the BSE Smallcap index underperformed, with a 2.66 per cent fall against a 1.23 per cent dip in the benchmark Sensex, as retail investors did not participate in the late recovery. From the smallcap pack, shares of Delta Corp nosedived a massive 19.99
per cent to Rs 129.90, Steel Exchange India tanked 19.95 per cent and Sun Tech plunged 19.91 per cent.



60 stocks hit 52-week lows: As many as 60 stocks from the BSE200 index hit their one-year lows on Wednesday due to a massive plunge in early trading. ABB hit a one-year low at Rs 950 and ended the day at Rs 1,056. IT major Infosys hit its 52-week low at Rs 900.30, but settled at Rs 955.85 for
the day while Apollo Hospitals hit a one-year low at Rs 1,212 but ended slightly higher at Rs 1,292.



Spurt in OI: Shares of DCB Bank saw the biggest uptick in open interest in the futures and options segment at 37.83 per cent. It was followed by DLF (32.07 per cent), while the stock slumped after the government crackdown on black money. Other major OI gainers in the F&O segment included Maruti (up 27.61 per cent), DHFL (up 23.58 per cent) and HDIL (up 21.16 per cent). Shares of DCB Bank tanked 9.46 per cent to Rs 117.70, those of DLF 16.36 per cent to Rs 119.90 and Maruti 4.57 per cent to Rs 5,410.



Most active stocks: ICICI Bank was the most traded stock on NSE in terms of traded volume. It was followed by Unitech, GMR Infra and DLF. The ICICI Bank stock slipped 0.25 per cent to Rs 282.50 while Unitech tanked 7.89 per cent to Rs 5.25.



Volatility in fear index: India Vix, which had zoomed 19 per cent in early trade, cooled off in the end to settle 0.89 per cent lower at 16.62, thanks to a massive turnaround in the market.

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