After Market: Wild swings in LVB, Vakrangee and key insider trades

NEW DELHI: Domestic stocks continued to bleed on Thursday. June F&O expiry, a sinking rupee and trade war worries had investors on the edge. The S&P BSE Sensex shed 0.51 per cent to settle at 35,037, while NSE’s Nifty50 pack dropped 0.77 per cent to close at 10,589.

In today’s After Market, we bring you -
Buzzing stocks;
Insider Trades

Block deals; &
Shankar Sharma’s take on the rupee

Buzzing stocks
Lakshmi Vilas Bank plunged 7.8 per cent in intraday trade after reports that Sebi has question the lender why it did not disclose a dispute with Religare Finvest in its regulatory filing over the rights issue launched in January. The stock settled 4.79 per cent lower at Rs 105.35 apiece on BSE.

Vakrangee rallies for 9th day
Shares of the company got locked in the upper circuit limit of 5 per cent at Rs 63.70 apiece on BSE.

Insider Trades
BSE data showed Piramal Corporate Services and Trustee of The Piramal Welfare Trust, the promoter group of Piramal Enterprises, disposed of a total of 2,97,606 shares between June 25 and 26. Jasmin K Bhavsar, the KMP of Nirlon, disposed 3,000 equity shares on June 27.

Shankar Sharma's take on rupee

Block deals
Gujarat Pipavav Port ended over a per cent lower after 11 lakh shares or 0.5 per cent equity changed hands in a single block deal on the BSE. On the ICICI Bank counter, 15 lakh shares changed hands in a block deal. The stock ended 2.78 per cent lower at Rs 271.15 apiece on BSE.

Stocks in oversold zone
Technical indicator RSI (Relative Strength Index) showed 64 stocks have slipped into the oversold territory. The list included NHPC, Gati, Vijaya Bank and KNR Constructions.

Call/Put Writing
On the options front, open interest was scattered across different strike prices at the start of the July series. Maximum Put open interest was at strike price 10,600 followed by 10,500 while maximum Call OI was at 11,000 followed by 10,800. Options data suggested limited upside while downside support is yet to be established in the absence of meaningful open interest inventory at the beginning of a new series.