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    After Market: 338 stocks hit 52-week lows in an upbeat market; 34 stocks in oversold zone

    Synopsis

    The 30-share Sensex pack added 145 points, or 0.40 per cent, to settle at 36,496.

    Stocks-BSE-Thinkstockphotos
    NEW DELHI: Investors on Friday stemmed the week’s insipid trading sentiment and went on a shopping spree despite mixed global cues.

    Heavy buying in bluechips such as Reliance Industries (RIL), Infosys, ICICI Bank and L&T lifted the stocks higher.

    A fall in the rupee gave IT stocks the much-needed impetus. The best part of Friday’s trade was that the broader market participated in the rally with the S&P BSE Midcap index gaining 0.78 per cent and the S&P BSE Smallcap index rising 0.49 per cent.

    The 30-share Sensex pack added 145 points, or 0.40 per cent, to settle at 36,496. NSE’s Nifty50 pack rose 53 points to reclaim the crucial the 11,000 mark to settle at 11,010.

    Here’s a look at the top movers and shakers of Friday's trade:

    Bajaj Finance, Bajaj Finserv on a high!
    Shares of financial services companies Bajaj Finance and Bajaj Finserv shot up to record highs on Friday, driven by their solid June quarter numbers. Bajaj Finance on Thursday reported an 81.40 per cent YoY jump in consolidated net profit at Rs 835.89 crore for June quarter while Bajaj Finserv posted a 41.27 per cent annual jump in consolidated net profit at Rs 825.77 crore. At close, shares of Bajaj Finance stood at Rs 2,721.50 apiece, up 8 per cent while those of Bajaj Finserv gained 5.70 per cent to settle at 6,666.20.

    Ceat on a roll!
    The tyremaker reported a whopping 4,000 per cent profit growth at Rs 72.03 crore from Rs 1.62 crore a year ago. The growth in earnings came about chiefly because of cost control measures put in place by the company. As a result, the stock spurted 7.58 per cent to settle at Rs 1,356.15 on BSE.

    338 stocks@52-week lows
    A total of 338 stocks hit their fresh 52-week lows during the day. Prominent among them included 8K Miles Software Services, ABB India, Balaji Telefilms, Bajaj Hindusthan Sugar, Ballarpur Industries and Bharat Dynamics.

    34 stocks slip into oversold zone
    Technical indicator RSI (relative strength index) showed as many as 34 stocks slipped into the oversold zone. The list included Kwality, Sintex Plastics, Shree Renuka Sugars, Titagarh Wagons, HT Media, Prakash Constrowell, Indostar Capital Fin and Chromatic India.

    Bajaj Auto skids on poor nos
    Shares of Bajaj Auto slipped nearly 9 per cent to Rs 2,841 apiece after it reported weaker-than-expected June quarter earnings. The Q1 profit figure stood at Rs 1,115.23 crore against Rs 923.93 crore in the same quarter last year.

    Muthoot Finance flat after block deal
    Shares of Muthoot Finance ended flat at Rs 390.55 after about 14 lakh shares changed hands in a block deal on BSE, according to Bloomberg data. Power Grid Corp lost 0.59 per cent after about 48.9 lakh shares traded in a block deal.

    TCNS Clothing IPO subscribed 5 times
    The initial public offering by TCNS Clothing was subscribed 5.11 times till 04:30 pm on the last day of the bidding process. Total bids received stood at 5,61,62,600 shares against the total issue size of 1,09,99,828 shares.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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