the market was heavily biased towards bears, with a rally / fall ratio of 1: 2. ONGC, Coal India, Power Grid, JSW Steel, UPL, NTPC, M&M, SBI and Nestle India were the leading large cap companies, while Mahanagar Gas, Ashok Leyland, SAIL, Canara Bank, Max Financial Services, Graphite India HEG, Hindustan Copper, Affle India and Wockhardt Pharma have established themselves in the mid-cap and small cap segments.
From a sector perspective, the shares of Nifty PSU Bank fell by almost 2%, while the Nifty Auto, Metal and Realty indices fell by 1% each. On a positive note, the Nifty FMCG index rose 0.29%.
Shares of Vodafone Idea rose 10% after reporting that the company could raise up to 7 billion lei via QIP. Reports also suggest that the telecommunications department could allow Vodafone Idea to raise funds to support foreign direct investment.
SBI cards and payment services, on the other hand, fell 6% to Rs 984 on the National Stock Exchange (NSE) in intraday transactions on Friday after around 64 million shares, or 6.8% of the company’s total capital. . the company changed ownership to NSE and BSE. While the names of buyers and sellers could not be immediately identified, reports indicate that US private equity firm Carlyle plans to sell a 5.1% stake in SBI cards and payment services. Finally, the shares of the NSE fell by 4%.
Shares of Nazara Technologies also tanked 12 per cent to Rs 1,463.75 on the BSE in intra-day trade after foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation. The stock was trading close to its 52-week low level of Rs 1,412.50 hit on April 12, 2021.
Lastly, shares of Adani Ports and Adani Enterprises snapped their four-day losing run as they surged 7 per cent and 9 per cent, respectively. Adani Power, Adani Green, and Adani Transmission, however, hit their 5 per cent lower circuit for the fifth straight day.