After Market: RCom bleeds on block deal, 2 debutants on fire

NEW DELHI: Despite some sporadic stock movements, it was the same old saga for Dalal Street on Monday.

The second half of calendar 2018 kicked off on a disappointing note, as investors continued selloff. The S&P BSE Sensex took a triple-digit cut of 159 points, or 0.45 per cent, to close at 35,264, while NSE's Nifty50 slipped half a per cent to end at 10,657. Volatility index India VIX shot up 4 per cent to 13.45.

In today's After Market, we have -
Block deals

Interesting IPOs in the offing
Insider trade details
Dow futures update

RCom bleeds post block deal
Shares of Reliance Communications (RCom) settled 4 per cent lower at Rs 13.24 apiece on BSE after 10 lakh shares changed hands in a block deal, Bloomberg Quint reported.

Insider trades
BSE data showed Jalgaon Investments, the promoter of Jain Irrigation, acquired 4,00,200 equity shares via market purchase on Monday. Shahra Estate, promoter of Ruchi Soya Industries, disposed of 1,00,000 shares.

It's raining IPOs, literally!
Reports said the country's second-largest fund house HDFC AMC will launch its IPO on July 11 to raise Rs 3,462 crore. This apart, agro-processing equipment maker Milltec Machinery has filed draft papers with Sebi to raise an estimated Rs 500 crore. Bharat Hotels, which runs five-star properties under 'The LaLiT' brand, too, has filed papers for a Rs 1,200 crore IPO.

Dow futures drop over 100 points
At 04:21 pm, the Dow30 futures traded 161 points, or 0.66 per cent, lower at 24,104, signalling a weak opening for US stocks later in the day.

Bearish crossover for Nifty
Technical indicator MACD showed a bearish crossover for the headline index, indicating that the bears are likely to maintain an upper hand in the coming sessions.

Sticking to gains
Bucking the broader market trend, some outliers managed to reap profits. Paints stocks Asian Paints and Berger Paints went home with 2.29 per cent and 1.40 per cent gains, respectively. Asian Paints was the top performer in the Sensex pack.

RITES, Fine Organic on fire
The two newly-listed stocks sparkled on debut even as the big boys of Dalal Street failed to cheer investors. RITES ended 11 per cent higher at Rs 211.30 apiece on NSE against the issue price of Rs 185. Fine Organic closed at Rs 824, up 1.24 per cent from the issue price of Rs 783.

@52-week lows
As many as 180 stocks hit one-year lows on NSE. The list included Adani Enterprises, Asian Granito India, Bank of Baroda and Bank of India. On the other hand, 13 stocks hit 52-week highs.