Mapping the market: Investors lost Rs 2,285 cr in rangebound market

NEW DELHI: If you want to compare a stock trading session with a cricket match, Friday’s session would fit into a five-day Test match played with a pink ball.

The BSE Sensex traded in a narrow 50-point range for most of the session on Friday and a 150-point range in intraday trade, but ended a shade below 25,850. Fourth quarter results of HDFC Bank could not lift sentiment on Dalal Street. Investors were nervous ahead of Reliance Industries’ earnings scheduled for later in the day.

Worries globally were a bit different. Investors in European markets seemed to be paying tribute to ‘Let's Go Crazy’ singer Prince Rogers Nelson by shedding up to 1 per cent. Mixed earnings in the region did not give European markets any reason to cheer.

Here's a wrapup of the key actions from across stocks/sectors that hogged the limelight on Friday.

Investor wealth falls by Rs 2,285 crore: The day was not that bad for the domestic market. Yet, investor wealth as suggested by the BSE market capitalisation fell by Rs 2,285 crore for the day to Rs 97,56,548 crore.



RCom bounces on DoT approval: Shares of Reliance Communications surged 5.46 per cent to Rs 56.95 after the company said it had received approval from the Department of Telecommunication for sharing spectrum with Reliance Jio in nine circles.

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Tyre stocks drop on rise in rubber prices: Shares of Govind Rubber, JK Tyre & Industries, Ceat, TVS Srichakra, MRF and Balkrishna Industries slipped anywhere between 1 per cent and 2.3 per cent. Natural rubber prices have recovered nearly 50 per cent from the multi-year lows hit in February this year.

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NMDC slips on govt OFS plan: shares of NMDC tumbled 2.20 per cent to settle at Rs 99.85 after the government said it was looking to divest 10 per cent of its stake in the mining company through offer for sale (OFS). In a notification, the government said it intends to disinvest 10 per cent of paidup equity capital, or 39,64,71,600 shares. At present, the government holds 80 per cent stake in the state-run company.

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Tata Steel ends flat despite UK biz reports: Shares of Tata Steel settled at Rs 353.80, down 0.17 per cent after climbing as much as 3 per cent in trade on reports that the UK government is ready to take as much as 25 per cent in Tata Steel's UK business to support the sale and offer hundreds of millions of pounds in debt relief.

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Eros up on fresh investment: Eros International spurted 6.80 per cent to Rs 182.95. The company will be investing $200 million in Trinity Studio, its in-house production arm set up 15 months ago.

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Sanghi Industries climbs on Piramal boost: The stock climbed 5.51 per cent to Rs 70.90. Piramal Enterprises has invested Rs 256.50 crore in the company, subscribed to the cement maker's non-convertible debentures. The company through its Structured Investment Group subscribed to the non-convertible debentures of Sanghi Industries to term out its capital structure and repay lenders ahead of schedule, Piramal Enterprises said in a statement.

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