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    Market Movers: YES Bank gains for 7th day; 55 stocks flash buy signals

    Synopsis

    Some 317 stocks rose by their daily limits on BSE. These included GE Power, Indiabulls Integrated Services, Tata Steel PP and Adani Green, among others.

    market moversShutterstock.com
    Shares of YES Bank gained for the seventh straight session to close at 14.55. During the week, the private sector lender was added to the MSCI India Index.
    The stock of Indiabulls Real Estate was on investors’ radar on Friday after ace equity investor Rakesh Jhunjhunwala’s RARE Enterprises bought 50 lakh shares of the company on Thursday. On the other hand, robust buying in financial stocks kept the market momentum high on Dalal Street.

    BSE benchmark Sensex advanced nearly 86 points, or 0.20 per cent, to 43,443, while the 50-share Nifty settled 29 points, or 0.23 per cent, up at 12,720.

    “The market rebounded today after a weak start on positive signals from the additional package of incentives announced by the government and an uptick in some of the macro numbers,” said Joseph Thomas, Head of Research, Emkay Wealth Management.

    Here is a lowdown on what happened in today’s trade:
    Who moved my Sensex
    Shares of Bajaj Finserv climbed the most at 3.32 per cent to Rs 7,257. Tata Steel, ICICI Bank, Axis Bank, Bajaj Finance, State Bank of India and UltraTech Cement also gained between 1 per cent and 3 per cent. On the other hand, Larsen & Toubro (down 2 per cent), HDFC (down 1 per cent), HDFC Bank (down 0.94 per cent) and Bharti Airtel (down 0.79 per cent) capped the upside.

    YES Bank advances for 7th day
    Shares of YES Bank gained for the seventh straight session to close at 14.55. During the week, the private sector lender was added to the MSCI India Index. In another update, the bank on Tuesday said CARE has upgraded ratings on its various debt instruments following improvement in bank’s credit profile after the reconstruction plan.

    RBL Bank shares gain
    Shares of RBL Bank advanced over 1 per cent after the bank raised Rs 1,566 crore in fresh capital through a preferential allotment of shares to a group of investors led by Baring Private Equity Asia. The scrip settled 1.58 per cent higher at Rs 205.60.

    Indiabulls Real Estate climbs 9%
    Shares of Indiabulls Real Estate surged 9 per cent to Rs 60.15 after Rakesh Jhunjhunwala's RARE Enterprises on Thursday purchased 50 lakh shares of the company through a bulk deal on NSE.

    Promoter action: Bajaj Holdings, Greaves Cotton
    Promoter group Hercules Hoists bought 18,909 shares of Bajaj Holdings on November 10 and November 11, data available with BSE showed on Friday. The stock closed 0.39 per cent higher at Rs 2,690.

    Promoter Karun Carpets of Greaves Cotton acquired a total of 1.60 lakh shares on November 12. The stock closed 1.18 per cent higher at Rs 72.70.

    Stocks that hit 52-week highs
    Some 70 stocks scaled 52-week highs on NSE. They included Aarti Surfactants, Adani Enterprises, Adani Green, ADF Foods, Gati, Equitas Small Finance Bank, Eicher Motors, Dixon Technologies, Dalmia Bharat, Cera Sanitaryware, Blue Dart, Balkrishna Industries and Kajaria Ceramics, among others.

    Stocks that hit upper circuits
    Some 317 stocks rose by their daily limits on BSE. These included GE Power, Indiabulls Integrated Services, Tata Steel PP and Adani Green, among others.

    Most active stocks
    With a total traded quantity of 23.21 crore shares, YES Bank emerged as the most active stock on NSE in terms of trading volume. It was followed by Vodafone Idea (20.66 crore), State Bank of India (7.06 crore) and Siti Networks (5.84 crore). On the other hand, Reliance Industries (Rs 4,205 crore), Bajaj Finance (Rs 2,653 crore), Eicher Motors (Rs 2,363 crore) and IndusInd Bank (Rs 1,932 crore) stood among most active in terms of trading value.

    Stocks that gave ‘buy’ signals
    About 55 stocks on NSE crossed above the signal line of MACD indicator, flashing ‘buy’ signals. They included Jain Irrigation, TV18 Broadcast, NIIT, JSW Energy, Nocil, KPIT Technologies, Aarti Drugs, Tata Chemicals, Alembic, V-Guard, Borosil Renewables, Aries Agro, Inox Wind, Wockhardt, GNA Axles, among others.

    Where is Nifty headed?
    Shrikant Chouhan, Executive Vice President (Equity Technical Research), Kotak Securities, said the market is consolidating and slowly inching higher towards 12,900 and 13,000 levels.

    “The Nifty50 index is forming a symmetrical triangle on the intraday chart. It’s a bullish continuation formation that would lift the market towards the psychological mark of 13,000. The breadth of the broader market is quite satisfactory, which is indicating a firm grip of bulls and would not allow the Nifty to fall below 12,600 levels in the normal circumstances,” said Chouhan.



    (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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