Market Movers: Smallcaps race ahead; NTPC, Thyrocare jump; 66 stocks blink 'sell' signals

Mumbai: Domestic equity benchmarks struggled for direction on Monday, but managed to close in the green, amid mixed global cues. In the process, the market snapped a three-day losing streak, amid more signs that valuations may have run up too high.

Market barometer Sensex rose 0.46 per cent to 38,051, while peer Nifty climbed 0.72 per cent to close at 11,259.

“The market is uncertain and investors are advised to remain cautious. Stock valuations are a concern, and there could be profit booking in the near term,” said Vinod Nair, head of research at Geojit Financial Services.

Here is a lowdown of what happened in Monday’s trade:
Smallcap stocks outperform
The BSE Smallcap index rose 0.84 per cent, outperforming the benchmark Sensex. Stocks which advanced the most in the most included Thyrocare Technologies (19.07 per cent), Man Infraconstruction (18.22 per cent) and Redington (India) (17.80 per cent), among others.

NTPC sees stellar run
NTPC jumped 7.92 per cent to Rs 95.40 after the state-run power giant said it had begun bulk supply of fly ash using newly-developed infrastructure at its Rihand project in Uttar Pradesh to distant cement plants. The company also reported better-than-expected results for June quarter.

Thyrocare Technologies soars
Diagnostics firm Thyrocare Technologies soared 19.07 per cent to Rs 838.75 amid high volume trade. Earlier in the day, the stock logged a 52-week high of Rs 845.25.

PTC Industries hits 52-week high
PTC Industries jumped 20 per cent to a 52-week high of Rs 699 after a clutch of high net worth individuals (HNIs) brought heavily into the counter on Friday. Kochi-based investor Porinju Veliyath, Vikas Khemani of Carnelian Asset Management, Israr Ali Khan, Mona Russel Mehta and Pankaj Prasoon and HUF lapped up shares of PTC Industries, while Pragati India Fund offloaded some 7,85,913 shares. As of June end, Pragati India Fund held 20 per cent stake in the company.

Stocks that hit 52-week highs
Some 145 stocks scaled 52-week highs on BSE. These included Bajaj Electricals, Thyrocare Technologies, Mindtree, Wabco India and Tata Consumer Products, among others.

Stocks that hit the upper limits
As many as 391 stocks rose by their daily upper limits during the day. They included 3i Infotech, Aurionpro Solutions, Aarti Surfactants, Opto Circuits and PTC Industries, among others.

Stocks that flashed ‘sell’ signals
About 66 stocks on BSE crossed below the signal line of the MACD indicator, flashing ‘sell’ signals. They included Axis Bank, Alok Industries, Aurobindo Pharma, DCB Bank and SH Kelkar & Co, among others.

Where is Nifty headed?
Abhishek Karande of Reliance Securities said benchmark Nifty is indicating exhaustion with intermediate resistance placed at 11,350 level. “Minor dips can't be ruled out before Nifty surpasses 11,350. On crossing 11,350 level, the index could possibly continue to rally until 11,450/11,500. However certain stocks continue to remain positive,” he said.