Friday, July 15, 2011

Freak trades: 12 Sensex stocks zoomed 20% each

Today, on July 15, 2011, not one but 12 index (Sensex) stocks zoomed 20% in early trades. Alas! they were just a freak trades, as the price correction took place soon after.

However, the fact that not one but 12 stocks zoomed 20% at the opening bell on the Bombay Stock Exchange (BSE), can simply baffle many  investor. The said, 20% gain cannot be called as upper circuit simply because all these stocks are in the futures and options segment.

The impact was definitely felt on the BSE benchmark index, the Sensex, which touched a high of 19,620 - up 5.4% (1,002 points) from the previous close.

The 12 stocks in question are - BHEL, DLF, HDFC Bank, ICICI Bank, Infosys, Larsen & Toubro, ONGC, Reliance Industries, SBI, Tata Steel, TCS and Wipro.

Interestingly, out of these 12 stocks only one - HDFC Bank - was up 20% in the pre-opening session. And, the Sensex was up around 300 points in the pre-open trade.

Meanwhile, along with the Sensex, eight off these 12 stocks are now trading in the negative zone. The Sensex is now down 32 points at 18,585.

Company Name
Previous CloseToday's High% ChgCurrent Price% Chg
HDFC Bank505.90607.0519.99507.600.34
ICICI Bank1068.901282.6520.001062.40-0.60
Larsen & Toubro1815.952179.1020.001808.80-0.39
Reliance Inds866.901040.2520.00573.00-0.53
Tata Steel576.54691.8520.00574.00-0.44

No comments:

Post a Comment

15 Stock Investment Tips from Rakesh Jhunjhunwala

1. Always go against tide. Buy when others are selling and sell when others are buying.  2. If you believe in the growth prospects o...