Week in 10 stocks: Aviation hits an air pocket, NBFCs still reeling

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Market heartbeats Sensex and Nifty slipped for the fourth straight week as they found little solace in rising crude oil prices, fall in the rupee and heavy selling pressure in the non-banking financial space. The BSE Sensex lost 614 points, or 1.67 per cent, to 36,227 for the week ended September 28 while the NSE Nifty came off by 213 points, or 1.91 per cent, to 10,931.As many as 42 stocks of the Nifty settled in the red, with Indiabulls Housing Finance tumbling nearly 20 per cent.YES Bank plunged 19.20 per cent, along with Eicher Motors (down 13.41 per cent), Tata Motors (down 10.69 per cent) and Mahindra & Mahindra (down 10 per cent).On the other hand, Tata Consultancy Services, Reliance Industries, Infosys, Axis Bank, HDFC Bank, Vedanta, Titan Company and HCL Technologies jumped 0.30-4 per cent during the week gone by.Here are the top stocks and sectors that were up and running the whole week. Take a look. YES Bank: Rana Kapoor, the embattled co-promoter and CEO of Yes Bank, on Friday said he does not intend to sell his holding in the private lender. Yes Bank shares were under huge selling pressure during the week after the Reserve Bank curtailed Kapoor’s term till January-end 2019 from the three years as sought by the board. The scrip plunged to Rs 183.50 on September 28, from Rs 227.10 on September 21.Aviation stocks: Airline majors, including Jet Airways, SpiceJet and InterGlobe Aviation, fell up to 21 per cent after the government on Wednesday raised import duty on 19 items, including jet fuel, to check the widening current account deficit resulting from high crude oil prices and a falling rupee. The government has raised import duty of 5 per cent on aviation turbine fuel (ATF), from nil earlier. Jet Airways faced additional pressure after reports that the company delayed part payment of August salaries to pilots and senior management personnel.Top gainers: With gains of 12.47 per cent, IL&FS Transportation was among top gainers on the BSE500 index for the week ended September 28. Star Cement (up 10.73 per cent), Thyrocare Technologies (6.94 per cent), The Indian Hotels Company (6.78 per cent), Deepak Nitrite (5.54 per cent) and Cyient (5.46 per cent) were other smart gainers.Top losers: Infibeam Avenues plunged 67.58 per cent to Rs 58.80 on Friday, from Rs 181.40 on September 21. It was followed by Indiabulls Real Estate (down 27.91 per cent), Centrum Capital (down 24.89 per cent), PNB Housing Finance (down 24.24 per cent), Jain Irrigation (down 23.67 per cent) and Welspun Corp (down 23.55 per cent).@fresh 52 week low: As many as 178 stocks of the BSE500 index hit their fresh 52-week lows during the week. The list included scrips such as AU Small Finance Bank, Jindal Stainless (Hisar), IDFC Bank, Infibeam Avenues, Gujarat Gas, Orient Cement, Aditya Birla Capital and PC Jeweller.@fresh 52-week high: On the BSE500 index, shares of United Breweries, Dr Reddy’s Labs, Alembic Pharma, Indian Energy, Deepak Nitrite, Biocon, Divi’s Labs, HCL Technologies and TCS scaled their fresh 52-week highs during the week gone by.A weak debut on D-St: Shares of engineering and construction company Ircon International made a weak debut at the bourses on Friday and ended 13 per cent lower against the issue price of Rs 475. The stock settled at Rs 416.65, a sharp fall of 12.28 per cent against the issue price on the BSE. The stock listed at Rs 410.30, plunging 13.62 per cent from the issue price in the morning trade. On NSE, shares of the company closed 13 per cent lower at Rs 412.95.IPO update: The initial public offer (IPO) of Dinesh Engineers, a passive communication infrastructure provider, was subscribed 0.54 per cent on the first day of bidding Friday. The public offer received bids for 5,43,600 shares against 10,00,00,000 offered by the company, according to NSE data. On the other hand, IPO of state-owned Garden Reach Shipbuilders & Engineers got fully subscribed on Friday. Another IPO by Aavas Financiers was subscribed 97 per cent on the third day of bidding on Thursday.NBFCs in a free fall: Shares of most non-banking financial companies were under pressure as fears of liquidity crisis continued to haunt sentiment. PNB Housing Finance, Dewan Housing Finance Corporation, Edelweiss Financial Services, Indiabulls Housing Finance, Can Fin Homes and Reliance Capital came down by over 15 per cent during the week gone by.WhatsApp message that destroyed wealth: Shares of Infibeam Avenues Ltd saw a 71 per cent erosion in its market value on Friday after a WhatsApp message raised concerns about the e-commerce company’s accounting practices.

Read more: economictimes.indiatimes.com

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