MARKET WRAP OF 14 FEB 2019

The Nifty50 after opening lower extended losses amid consolidation and closed the Thursday's session lower, but the broader markets outperformed frontliners with the Midcap and Smallcap indices rising 0.6 percent each.

The frontline indices ended lower on Thursday led by a fall in IT, metal and financial stocks.

The S&P BSE Sensex ended at 35,158, down 158 points or 0.44 per cent, while the broader Nifty50 index settled at 10,746, down 48 points or 0.44 per cent.

BUZZING STOCKS

 YESBANK rallied as much as 30 percent, the highest intraday bounce seen in the stock since July 2005, after the company announced no divergence on the asset classification and provisioning for FY18. Brokerages have upgraded ratings on the stock and see up to 86 percent upside.

Shares of Zee Entertainment Enterprises (ZEEL) rose 8 per cent to Rs 440 apiece in the intra-day trade, rallying 52 per cent from their January's low on the BSE. The stock closed at Rs 433.30, up 6.19 per cent.

We believe a majority of investors, rightly or wrongly, are currently focused on the upcoming election and the potential volatility in stock prices around the event,Market is likely to find a relief uder a stable government.