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ETMarkets after hours: Banking stocks continue to fall; Max Ventures rises 15%

9 February, 2017 11:54 AM
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ETMarkets after hours: Banking stocks continue to fall; Max Ventures rises 15%

Despite mixed Asian cues and a firm rupee, the domestic equity market settled almost flat on Thursday amid selling in banking, metal and capital goods stocks. The 30-share BSE Sensex closed 39.78 points, or 0.14 per cent, higher at 28,329, while the 50-share NSE Nifty settled 9.35 points, or 0.11 per cent, up at 8,778.

Exploring opportunities: Shares of Sunteck Realty advanced over 5 per cent in intraday trade after the real estate developer announced formation of a new vertical to explore the option of value housing in the backdrop of the Budget thrust on affordable housing. The company is planning to invest up to Rs 1,000 crore over next two years to develop these projects. Later, the scrip closed 1.87 per cent up at Rs 250.90.

Financials under pressure: Banking stocks continued to fall on Thursday after the Reserve Bank of India on Wednesday decided to keep interest rates unchanged at 6.25 per cent. The Nifty Bank index closed 0.47 per cent down at 20,151. PNB, Bank of Baroda and IndusInd Bank fell 3.64 per cent, 1.39 per cent and 0.63 per cent, respectively.

Stocks that surged over 10%: India Tourism (up 10.81 per cent), Coffee Day Enterprises (up 10.97 per cent), Jindal Saw (up 11.18 per cent), Rane Holdings (up 11.62 per cent) , Educomp Solutions ( up 13.32 per cent) and Max Ventures and Industries ( 16.64 per cent) are some of the stocks that rallied over 10 per cent during the day.

Spurt in OI: Stock futures of Union Bank witnessed the biggest jump in open interest (OI) at 66.77 per cent. It was followed by Page Industries (up 28.61 per cent) and Lupin (up 25.46 per cent).

Also read: Buy or Sell: Top stock trading ideas by Dinesh Rohira, Prakash Gaba & Rajesh Agarwal


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