MARKET WRAP: Sensex ends below 41,000, slips 188 pts; Bharti Airtel down 4%
All that happened in the markets today
 "(Photo: Kamlesh Pednekar)")
(Photo: Kamlesh Pednekar)
Metals continued to drag the indices down for the second straight session on Tuesday as investors weighed the impact of coronavirus to China's and the world economy. Additionally, volatility in the indices ahead of the Union Budget for 2020-21, and disappointing December quarterly result by heavyweight Maruti Suzuki invited more sellers in the markets than buyers.
The S&P BSE Sensex plummeted 188.26 points, or 0.46 per cent, to end at 40,966.86 level. Bharti Airtel (down 4 per cent), Tata Steel (4 per cent), and Reliance Industries (3 per cent) were the top laggards at the 30-share index. On the upside, HDFC (1.6 per cent), Bajaj Finance (1.3 per cent), and Sun Pharma (1 per cent) were the top gainers. In the intra-day trade, the Sensex hit a low of 40,869.75.
On the National Stock Exchange (NSE), the broader Nifty50 held the psychological mark of 12,000, and ended marginally above the level at 12,055.80-mark, down 63.20 points, or 0.52 per cent.
On the sectoral front, Nifty Metal index was the top drag on the NSE, down over 2 per cent at close. This was followed by losses in the Nifty Auto index, down over 1 per cent. On the contrary, Nifty Realty index was the top performer today, up 0.11 per cent at close.
In the broader markets, weakness was witnessed in the mid-caps, while small-caps continued to fare better than the benchmarks. The S&P BSE mid-cap index ended 0.50 per cent lower at 15,679.84 level, while the S&P BSE small-cap was at 14,827.34, down 0.16 per cent.
GLOBAL MARKETS
Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing.
MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 per cent. Japan’s Nikkei, which was down nearly 1 per cent at one point, closed 0.6 per cent lower. Australian shares ended 1.3 per cent down and South Korea’s Kospi index skidded 3 per cent.
In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures each rose 0.3 per cent while futures for London’s FTSE added 0.1 per cent. The S&P 500 e-mini contracts gained 0.5 per cent.
In the commodities market, Brent Crude Futures were at $58.07 per barrel-mark, down 0.87 per cent.
(With inputs from Reuters)
3:41 PM
Nifty snapshot at close
3:40 PM
Top gainers and losers on S&P BSE Sensex at close
3:39 PM
Closing Bell
>> The S&P BSE Sensex plummeted 188.26 points, or 0.46 per cent, to end at 40,966.86 level. Bharti Airtel (down 5 per cent), Tata Steel (4 per cent), and Reliance Industries (3 per cent) were the top laggards at the 30-share index. On the upside, HDFC (1.6 per cent), Bajaj Finance (1.3 per cent), and Sun Pharma (1 per cent) were the top gainers. In the intra-day trade, the Sensex hit a low of 40,869.75.
>> On the National Stock Exchange (NSE), the broader Nifty50 held the psychological mark of 12,000, and ended marginally above the level at 12,055.80-mark, down 63.20 points, or 0.52 per cent.
3:18 PM
NEWS ALERT | DGFT blacklists Bharti Airtel, puts co on 'Denied Entry List': sources to CNBC TV18
>> Says co didn't fulfill export obligations under EPCG
>> Denied Entry List leads to import curbs
Alert: DGFT is Directorate General of Foreign Trade
>> Denied Entry List leads to import curbs
Alert: DGFT is Directorate General of Foreign Trade
3:00 PM
Market check | Sensex slips below 41,000
2:59 PM
NEWS ALERT | Magma Fincorp to seek board nod for raising up to Rs 3,000 cr in FY21 via NCDs: BSE filing
Alert: Board meeting to be held on Jan 31
2:47 PM
» More on 52 Week Low
BSE500 stocks that hit 52-week low today
| COMPANY | PRICE(rs) | 52 WK LOW | CHG(rs) | CHG(%) |
|---|---|---|---|---|
| ITC | 231.10 | 231.00 | -3.55 | -1.51 |
| J & K BANK | 27.40 | 27.30 | -0.80 | -2.84 |
| RELIANCE CAPITAL | 9.05 | 8.94 | -0.27 | -2.90 |
2:43 PM
MARKET CHECK:: Sensex extends losses; down 190 points now
2:35 PM
Global Markets check
Asian stocks took a battering on Tuesday as the death toll from a virus in China climbed, leaving investors fretting over the widening economic fallout from the outbreak and lifting bonds on expectations central banks would need to keep stimulus flowing.
MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 per cent. Japan’s Nikkei, which was down nearly 1 per cent at one point, closed 0.6 per cent lower. Australian shares ended 1.3 per cent down and South Korea’s Kospi index skidded 3 per cent.
In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures each rose 0.3 per cent while futures for London’s FTSE added 0.1 per cent. The S&P 500 e-mini contracts gained 0.5 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 0.8 per cent. Japan’s Nikkei, which was down nearly 1 per cent at one point, closed 0.6 per cent lower. Australian shares ended 1.3 per cent down and South Korea’s Kospi index skidded 3 per cent.
In early European trades, the pan-region Euro Stoxx 50 futures and German DAX futures each rose 0.3 per cent while futures for London’s FTSE added 0.1 per cent. The S&P 500 e-mini contracts gained 0.5 per cent.
2:31 PM
Maruti Suzuki posts 4% YoY rise in Q3 consolidated profit at Rs 1,587 crore
On standalone basis, Maruti Suzuki's Q3 profit increased 5.1 per cent to Rs 1,565 crore while revenue was up 5.3 per cent to Rs 20,707. In terms of operating performance, Maruti's earnings before interest, tax, depreciation, and ammortisation (EBITDA) stood at Rs 2102 cr, up 8.9 per cent YoY while Ebitda margin stood at 10.1 per cent. READ MORE
2:25 PM
BROKERAGE RADAR :: Anand Rathi Shares and Stock Brokers on DCB Bank
Higher margins and lower opex led to a 115bp sequential increase in C/I, which improved to 54.4%. The lower tax rate counterbalanced higher credit costs, keeping RoA above 1%. Loan growth was at a many- year low of 11%. Higher slippages, however, led to deterioration in the asset quality. We expect business growth to pick up and asset quality to stabilise in the medium term. We maintain a Buy.
Our Jan’21 target of Rs 226 is based on the two-stage DDM model. This implies a ~1.8x P/BV multiple on its FY22e book. Risks: Less-than-expected loan-book growth, large slippages from the mortgage book.
Our Jan’21 target of Rs 226 is based on the two-stage DDM model. This implies a ~1.8x P/BV multiple on its FY22e book. Risks: Less-than-expected loan-book growth, large slippages from the mortgage book.
2:15 PM
Index Contributors at this hour | Bharti Airtel declines 5%, RIL over 2%
2:11 PM
Result impact | Maruti extends slide as Q3 nos miss estimates
2:01 PM
Market check | Sharp slide in Sensex
1:44 PM
NEWS ALERT| Sales between April and Dec down 16.1% YoY: Maruti Suzuki
>> Company sold a total of 1,178,272 vehicles during the period, lower by 16.1% compared to the same period previous year.
>> Sales in the domestic market stood at 1,100,698 units, lower by 16.9%. Exports were at 77,574 units.
>> Sales in the domestic market stood at 1,100,698 units, lower by 16.9%. Exports were at 77,574 units.
>> During the period, the Company registered Net Sales of Rs. 545,047 million, lower by 12.5% compared to the same period previous year.
>> Net profit for the period stood at Rs. 43,589 million, lower by 23.6% compared to the same period previous year on account of lower sales volume
>> Net profit for the period stood at Rs. 43,589 million, lower by 23.6% compared to the same period previous year on account of lower sales volume
Topics : MARKET WRAP Markets
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jan 28 2020 | 7:41 AM IST