Positive trade setup was seen in stocks like RIL, Sun Pharma, Biocon, HUL, TCS, McDowell, MindTree, Bharti Airtel, Britannia and SAIL while the structures looked weak in Jubilant Foodworks, MGL, Titan, Bharti Infratel, ONGC, UPL and Bata India.
These five banks-- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank--collectively control a quarter of the system and three-fourths of the private banking space, according to a report by India Ratings on Friday..
Tejas Networks stock jumped 5 percent, hitting upper circuit for the third consecutive day, after Kedia Securities, owned by investor and trader Vijay Kedia, acquired a 0.81 percent stake in the company for Rs 3.7 crore through open market transactions.
Yes Bank stock shed over 4 percent after the private lender approved the price band for its follow-on public offer (FPO).
Reliance Industries stock jumped over 3 percent, climbing an all-time high on July 10, hitting a market capitalisation of Rs 11,90,857.13 crore. RIL market cap rose by over Rs 34,000 crore in Friday’s trade.
Firstsource Solutions stock price jumped over 6 percent after Rakesh Jhujhnwala raised his stake in the company.
Punjab National Bank stock shed over 5 percent after the lender declared its Rs 3,600 crore exposure to Dewan Housing Finance as a fraudulent account.
HDFC Life & SBI Life gained on a significant improvement in premium on MoM basis.
Britannia Industries surged to life high; HUL & Sun Pharma were other top Nifty gainers.
TCS gained 2 percent from lows to end 1 percent higher on positive management commentary,
Long Buildup was seen in stocks like Idea, Equitas and Godrej Properties. Short Buildup was seen in stocks like PNB, Century Textiles and MGL.
More than 100 stocks on the BSE hit a fresh 52-week high. They included Bharat Rasayan, Britannia Industries, RIL and L&T Infotech.
S&P BSE Energy index was up 2.2 percent, S&P BSE Telecom index was up 0.75 percent and the S&P BSE Healthcare index rose 0.67 percent. Volume spike of more than 100 percent was seen in stocks like Biocon, IDFC First, and Equitas
Top Nifty gainers included Britannia Industries, Sun Pharma and RIL. Top Nifty losers included HDFC, GAIL India, IndusInd Bank, and Axis Bank.
On the broader markets front, the S&P BSE Midcap index fell 0.72 percent while the S&P BSE Smallcap index was down 0.35 percent.
These top five private sector banks - HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank - constitute 25 per cent of the overall banking and 75 per cent of private bank space, said the report. (3/n)
Coronavirus lockdown impact: Bad loans of top 5 private banks set to double in FY21 The slippages for five private sector banks - HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank - would be around 5 per cent for FY21, if refinancing remains a challenge
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|End of day prices|