Nifty bounces back after recoveries in US and European Future …. NBFC stocks in limelight
· Market bounced back into positive territory lead by Metal, NBFC , Banks and Cement stocks. Tech stocks recovered partially from the intra-day low. Nifty recovered nearly 2% from the intra-day low after US and European Future bounced back into positive territory.
· NBFC stocks are witnessing bargain hunting on expectation of current valuation is attractive after IMD forecast a normal monsoon. Market hope of recovery process will be back in the next few months. Both M&M Finance and L&T Finance climbed up 7% each. Others like AU Small Finance, Mnappuram Finance, Muthoot Finance, recovered smartly from the intra-day low.
· Block Deal – BEL 90 lakh share and Indian Hotel 17.4lakh shares.
· Endurance Technologies declined 1% while it’s Italian arm has acquired 99 percent stake in Adler for Euro 3.5 million.
· TCS’ 1,700 Put: Premium up 20 percent to Rs 90.95. The contract has added 1.05 lakh shares in Open Interest.
· Reliance Industries’ 1,200 Call: Premium up 27.3 percent to Rs 54.5. The contract has added 14,000 shares in Open Interest.
· Infosys’ 600 Put: Premium up 34 percent to Rs 23.8. The contract has added 2.28 lakh shares in Open Interest.
· Abnormal volumes – L&T Finance, LIC Housing, Bandhan Bank, IndusInd Bank and Ujjivan Financial
