After Market: IIFL Sec, IndiGo, DMart & IT names fly high; 223 hit upper circuits

Shares of IIFL Securities hit the 5 per cent upper circuit limit for the second day in a row and stayed there throughout Friday. This followed some share buying by Big Bull Rakesh Jhunjhunwala on the counter.

Shares of InterGlobe Aviation got a boost after the company announced an extraordinary general meeting in January-end to discuss the internal issues at the company. The stock pared losses and added 2 per cent.

IT shares were among major gainers in an otherwise subdued market, thanks to a fall in the rupee. BSE Sensex slid 162 points for the day to end at 41,464 while NSE barometer Nifty lost 55 points to 12,226.


"Investors turned cautious as tensions surfaced in West Asia. With the market testing new highs, the flareup in geopolitical tensions could force investors to book some profits. Crude prices could turn volatile due to the risk of possible retaliation by Iran," said Vinod Nair, Head of Research, Geojit Financial Services.

Here is a lowdown of the movers and shakers of Friday’s session on Dalal Street:

IIFL Securities on a high
Shares of IIFL Securities added 4.89 per cent to Rs 47.15 after ace investor Rakesh Jhunjhunwala acquired a stake in the company. The Big Bull bought 27.85 lakh shares of IIFL Securities on Thursday at an average price of Rs 42.83 a share, BSE bulk deal data showed.

IndiGo flies post EGM notice
Shares of InterGlobe Aviation gained 2.10 per cent to end the day at Rs 1,360.95. The stock opened lower but recovered after the company announced an extraordinary general meeting on January 29, raising hope there could soon be a fix on the internal issues haunting the airline.

DMart promoters to sell shares
Promoters of Avenue Supermarts are likely to offload 5.20 per cent stake via a block deal. Following the news, the stock gained 1.1 per cent to Rs 1,842.70 on BSE.

India VIX soars
The flareup in West Asia caused India VIX, the measure of volatility in the market, to soar 10.26 per cent to 12.67. The index had been quoting at a very low level for weeks now.

IT stocks buck trend
IT stocks bucked the trend and surged as the US dollar grew stronger in comparison to the rupee. Nifty IT index jumped 1.44 per cent to 15,936 thanks to gains in shares of NIIT Tech, TCS, HCL Tech, Infosys, Tech Mahindra and Wipro, which jumped 1-3 per cent.

Most active stocks
Reliance Industries was the most active stock in terms of turnover. It was followed by Indiabulls Housing Finance, TCS, Tata Motors and SBI. In terms of transaction volume, Suzlon Energy topped the list, followed by YES Bank, Vodafone Idea, GMR Infra and Tata Motors.

Smallcaps outperform
Nifty Smallcap index paused a seven-session winning streak, but still managed to outperform its peers. The index slipped 0.04 per cent to 5,960 while Nifty Midcap index shed 0.57 per cent to 17,291 and Nifty500 lost 0.38 per cent to 9,941.

223 stocks hit upper circuit limits
As many as 223 stocks hit their upper circuit limits during the day. They included Suzlon energy, Shankara Building Products, Indiabulls Integrated Services, Magma Fincorp, Adani Green Energy, Indiabulls Real Estate and Jain Irrigation Systems.

58 stocks turn overbought
As many as 58 stocks on BSE turned ‘overbought’ as they crossed above the 70 mark on the Relative Strength Index (RSI). They included Suzlon Energy, Rail Vikas Nigam, Va Tech Wabag, Phillips Carbon, Zuari Global, Rites and Hindustan Oil, among others. RSI is a popular technical indicator that traders use to spot trends. Stocks with an RSI value higher than 70 are considered overbought.