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Market Movers: MSTC jumps, BSE m-cap tops Rs 160L crore, 50 stocks flash ‘buy’

NSE flagship Nifty gained 12.95 points to close at 12,356.

, ETMarkets.com|
Last Updated: Jan 16, 2020, 05.32 PM IST
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Shares of state-owned e-commerce firm MSTC jumped 4 per cent on Thursday after it signed a deal to sell scraps for PSU firm Engineers India.

YES Bank invoked another share pledge to acquire 10 per cent stake in a Coffee Day arm. On Wednesday, it had acquired a stake in Reliance Power in a similar fashion.

Barring metals, all other sectoral indices closed in the green. BSE benchmark Sensex topped the 42,000 mark in intraday trade for the first time, but pared gains to end at 41,932, up 59.83 points. NSE flagship Nifty gained 12.95 points to close at 12,356.

“The benchmark indices are seeing a mild pause in the trajectory after a solid performance in the last one month. The market may wait to analyse key Q3 results. A sudden jump in consumer inflation and NPAs is affecting sentiment. But the broader market is still on a solid footing," said Vinod Nair, Head of Research, Geojit Financial Services.

Here is a lowdown of the movers and shakers of Thursday’s session on Dalal Street:

MSTC shares add 4%
Shares of MSTC advanced 4.03 per cent to Rs 148.50 after the state-owned company inked an agreement with Engineers India for disposal of scrap material and machinery through its auction website.

HDFC to consolidate insurance biz
HDFC ERGO Health will merge with HDFC ERGO through a share-swap deal, its parent HDFC said. The board of directors of HDFC ERGO and HDFC ERGO Health at its meeting on January 15, approved a scheme of arrangement and amalgamation. Shares of HDFC slipped 0.22 per cent to Rs 2,480.55.

Wockhardt gets DCGI nod

Shares of Wockhardt advanced 5.25 per cent to Rs 272.65 after the company said it received approval from the Indian drug regulator for two new antibiotics indicated for the treatment of acute bacterial skin and skin structure infections.

YES Bank acquires stake in Sical

Yes Bank acquired 10.25 per cent stake in Sical Logistics, a Coffee Day Group company, by invoking pledged shares. Following the announcement, the stock gained 0.38 per cent to Rs 39.95.

IOC to bid for BPCL?

Indian Oil Corp (IOC), the country's biggest oil firm, will decide on bidding for Bharat Petroleum Corporation Ltd (BPCL) after the government sets rules for the stake sale, Chairman Sanjiv Singh said. The oil explorer’s stock dipped 1.15 per cent to Rs 124.20.

GMR to sell 49% in airport biz

GMR Infrastructure said it will sell 49 per cent stake in airport business to Tata Group entity TRIL Urban Transport, signalling the offloading of a higher quantum of shres than announced earlier. Shares of GMR Infra closed down by 0.42 per cent at Rs 23.85.

SCB sells stake in Orissa Sponge

Standard Chartered Bank has sold its entire 18.46 per cent stake in Orissa Sponge Iron and Steel through off-market transactions, according to a regulatory filing. Trading in the stock is suspended because of SEBI and exchange rule violations.

Sundaram Fin to sell stake in Equifax

Sundaram Finance said it would sell its entire 10 per cent equity in credit information firm Equifax Credit lnformation Services, a move that will fetch the company around Rs 91 crore. Shares of the NBFC rose 0.21 per cent to Rs 1,676.05.

Strides gets USFDA nod for anti-allergy drug
Strides Pharma Science said it received approval from the US health regulator for Loratadine Softgel Capsules, a medication typically used to treat allergies. Shares of the firm, however, closed down 0.62 per cent to Rs 387.20.

Metal index sole loser
Nifty Metal was the only sectoral index on NSE that closed in the red. It was down 1.32 per cent. Nifty Media was the biggest gainer, up 1.42 per cent. Nifty IT, Nifty FMCG and Nifty Pharma was among other gainers.

Nifty Midcap extends winning streak

Broader markets continued its momentum as Nifty Midcap extended its winning streak to eight sessions and Nifty Smallcap to six sessions. The former closed at 17986.50, up 0.83 per cent and the latter added 0.54 per cent to 6,271.65. Nifty 500 was up 0.21 per cent to 10,110.

BSE m-cap tops Rs 160 lakh cr

The market capitalisation of BSE-listed companies crossed above Rs 160 lakh crore. The total market cap was at Rs 1,60,22,479.94 crore, up Rs 48,355 crore from Wednesday’s close.

112 stocks hit 52-week high
Over 100 stocks touched their 12-month high during Thursday’s trade. They include Apollo Hospitals, Dabur, Divi’s Laboratories, Nestle India, NMDC and Tata Chemicals.

50 stocks flash ‘buy’ signals

As many as 50 stocks on BSE crossed above their Signal line of MACD indicator on BSE, giving ‘buy’ signals. They include IDFC First Bank, Jump Networks, Graphite India, HDIL, Manappuram Finance, Jagran Prakashan, Mahanagar Gas and Persistent Systems, among others.

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