Mapping the market: MRF flexes muscles; Mukta Arts, MCF, Jindal Stainless defy market to soar high

NEW DELHI: You don’t expect the stock market to become so bland a day before F&O expiry, do you?

The presidential debate between Democrat Hillary Clinton and Republican Donald Trump broke record in the US TV history, with 80 million Americans watching the event.

But traders across Asia were looking somewhere else. The spoiler for them was discontent between Iran and Saudi Arabia, which made sure of there would be no compromise on crude oil output freeze in informal meeting between the Opec and non-Opec members scheduled for later on Wednesday.

It was a rally in European markets which took the trading range of BSE Sensex to 150 points, helping the Nifty50 to settle around 8,850 in what was otherwise an uninspiring day.

Here’s a list of stocks that hogged limelight in an otherwise lacklustre session.

MRF now worth half a lakh: Yes, the most expensive stock in price terms has now crossed another milestone. In intraday trades, it became worth half a lakh in rupee terms. The scrip eventually closed the day at Rs 49,989, up 7.27 per cent. The stock has traded in a wide range between Rs 30,000 and Rs 50,000 in last one year. The market-cap of the tyre company stood at Rs 21,201 crore at Wednesday’s close. Live update



Mukta Arts rallied 30% in 2 sessions: Extending gains to the second straight session, shares of Mukta Arts soared over 8.52 per cent to Rs 110 after the company announced plans to transfer its entire cinema division to its wholly-owned subsidiary Mukta A2 Cinemas. Following the development, the stock rose 15.51 per cent to hit a 52-week high of Rs 118 on BSE. At this price, the stock is up 30 per cent in two sessions till Wednesday. Live update


Mangalore Chem surged on shareholder vote: Shares of Mangalore Chemicals and Fertilisers surged 6.52 per cent to Rs 47.40 after the company said its shareholders rejected a transaction with Zuari Agrochemicals. They, meanwhile, approved the appointment of Suresh Krishnan as managing director of Mangalore Chemicals and Fertilisers.

Jindal Stainless soared on land deal: Shares ofJindal Stainless saw an 8.89 per cent spurt to Rs 26.95 after the company said the Odisha Industrial Infrastructure Development Corporation has cleared the transfer of its land to Jindal United Steel and Jindal Coke.

IL&FS Transport gained on approval to investment trust: LL&FS Transportation Networks climbed 2.54 per cent to Rs 102.90 after the company told stock exchanges that said it had received in-principle approval from the market regulator for registration of IL&FS Transportation Investment Trust.

REC, Page Ind saw spurt in OI: Stock futures of state-run REC saw the biggest spurt in open interest (OI) at 221 per cent on NSE. Page Industries, Hindustan Zinc and Dabur India Industries saw their open interest rise by up to 62 per cent. Shares of Page Industries jumped 3 per cent while that of Dabur India fell 1.6 per cent for the day. A rise in OI along with a fall in stock price is seen as a negative setup or vice-versa.


RIL, Axis Bank most active stocks: Reliance Industries was the most actively traded stock on NSE in terms of traded value. The counter witnessed trading worth Rs 620 crore during the session. It was followed by Axis Bank (Rs 560 crore) and SBI (Rs 437crore). Tata Motors, ICICI Bank and Yes Bank were other highly traded stocks of the day.