Street Signs

Markets embraced the spirit of Diwali with a strong run in a curtailed week of action. The Sensex gained 380-odd points during the week, which warmed the bulls' hearts.

But more importantly, the frangipani who have been net sellers in Indian equities for the previous ten sessions suddenly decided to buy the goodies for Diwali on Moorat trading. Will it herald a change in their trading patterns?

With the share price of Asian Paints falling, the Swiss-based Want To Bell fund decided to press the sell button. The fund is said to have sold nearly 10 lakh shares at the counter at Rs 497 levels.

This despite impressive quarterly numbers from the company. The counter had seen plenty of big deals earlier in October on hopes of higher profits on the back of increasing demand, particularly in the decorative paints segment. However, the Prized One Brokerage has played spoilsport by maintaining its neutral stance on the stock, though they did note that the fundamentals remain strong.

Though Yes Bank is not of those stocks which have seen a lot of action of late, there are investors who are taking an active interest at the counter. Rambo Bank for example, bought more than 1.5 lakh shares at the counter.

The bank's impressive financial performances may have something to do with it. Yes Bank reported a 26.70 per cent sequential growth in net profit to Rs 14.30 crore for the September quarter, led by contribution from both core business and fee-based income. These impressive figures were enough for Little Angel Brokerage to reiterate their 'buy' rating on the stock.