After Hours: Dilip Buildcon’s decline, Adani block deal and other stories

NEW DELHI: The bulls were back with a bang on Thursday, amid positive global cues and heavy buying in industry heavyweights such as HDFC twins, Kotak Mahindra Bank and Infosys.

Some short coverings at fag end of the session on F&O expiry and expectations of healthy GDP data boosted investor sentiment. The S&P BSE Sensex gained 416 points, or 1.19 per cent, to settle at 35,322 while NSE's Nifty50 ended 122 points, or 1.15 per cent, higher at 10,736.

Here's a look at the top developments of Thursday's session -


Block deals in Adani Ports, IDFC Bank
Adani Ports ended nearly 5 per cent higher at Rs 392.20 apiece on BSE after 54 lakh shares, or 6.3 per cent equity, changed hands in multiple block deals. IDFC Bank rose 1.87 per cent after 96 lakh shares changed hands in multiple deals.

Recovery from intraday lows
Shankara Building Products recovered 23.79 per cent from the day’s low of Rs 1,428.45 to end the session at Rs 1,768.30. Capacit'e Infraprojects recovered 10.37 per cent from the day’s low to close at Rs 310.65. Vivimed Labs ended at Rs 62.45, up 10.34 per cent from day’s low.

Spurt in open interest
TCS witnessed the biggest spurt in open interest at 148.55 per cent, followed by CG Power (82.97 per cent) and Power Grid (70.75 per cent).

Stocks in oversold zone
Technical indicator RSI (Relative Strength Index) signals KSK Energy Ventures, Avanti Feeds and Zuari Agro Chemicals are among the stocks that slipped into oversold zone while Optiemus Infracom and Ratnamani Metals remained in the overbought zone.

Nifty outlook bearish on MACD
Technical indicator momentum indicator moving average convergence divergence, or MACD, once again signalled a bearish crossover for the Nifty50 index. MACD is known for identifying trend reversals. When the MACD crosses below the signal line, it gives a bearish signal on the charts, indicating that the price of the security may experience a downward movement, and vice versa.

Oiling gains: ONGC rises
Shares of Oil and Natural Gas Corp rose nearly 4 per cent after the company reported its highest profit in 17 quarters. The state-owned explorer’s net profit for the three months to March 31, jumped 37 per cent on back of higher oil prices. The stock ended 1.95 per cent higher at Rs 177.35 apiece on BSE.

Dilip Buildcon continues to bleed
Shares of the construction firm plunged further, down as much as 17.2 per cent to Rs 760.10, its lowest since October 17, 2017. Technical indicators suggest the stock may fall further. The 20-day exponential moving average (EMA) cuts below its 50-day EMA, a bearish sign. An analysis of the wave pattern suggests the stock has completed a five-wave uptrend and wave A of the corrective cycle has started. The scrip ended 9 per cent lower at Rs 834.35 apiece on BSE.