Sensex slips 144 pts as financial stocks, RIL decline; Nifty ends at 13,478
All that happened in the markets today
 "(Photo: Kamlesh Pednekar)")
(Photo: Kamlesh Pednekar)
The domestic equity market ended in negative territory on Thursday, owing to a sell-off in counters such as HDFC Bank, Reliance Industries (RIL), ICICI Bank, Infosys, and HDFC.
The S&P BSE Sensex snapped its five-day rally to settle at 45,960 levels, down 144 points, or 0.31 per cent while NSE's Nifty ended at 13,478, down 51 points, or 0.38 per cent, thus breaking the seven-day gaining streak.
Among individual stocks, UPL ended nearly 11 per cent lower at Rs 438 on the BSE following a media report that stated whistleblower claimed the company’s promoters siphoned off money. READ MORE
In the broader market, the S&P BSE MidCap index ended 0.57 per cent lower at 17,495 levels while the S&P BSE SmallCap index closed at 17,463, down 114 points, or 0.65 per cent.
Among sectoral indices, Nifty FMCG gained the most - up 2.81 per cent to 34,054.80 levels while Nifty Realty ended 0.43 per cent higher at 290 levels. On the other hand, Nifty PSU Bank index slipped 1.54 per cent to 1,810 levels while Nifty Bank ended 0.65 per cent lower at 30,510 points.
Global markets
Asian equities eased from record highs on Thursday as stalled US stimulus talks and a sell-off in tech stocks weighed.
In Europe, shares were little changed after a meeting between Britain and EU leaders on a trade deal failed to yield a breakthrough, while a European Central Bank (ECB) decision due later in the day kept investors from making big bets.
In commodities, oil prices rose above $49 a barrel as hopes of a faster demand recovery after the release of Covid-19 vaccines offset a huge rise in US crude inventories that showed supply remains ample.
(With inputs from Reuters)
4:31 PM
COMMENT | Ajit Mishra, VP - Research, Religare Broking
Markets ended marginally lower in a range-bound session, taking a breather after the recent surge. Weak global cues led to a gap down opening in the benchmark which further inched lower on the back of profit-taking by the participants. However, resilience in FMCG majors capped the downside, and recovery in metal and banking majors in the last hour further trimmed the losses. Finally, the Nifty index ended lower by 0.4 per cent at 13,478 levels. The broader markets, too, ended with losses in the range of 0.6-0.7 per cent.
Indications are in the favour of some consolidation in the index and it would be healthy for the markets. Nifty has critical support at 13,350 and its breakdown may result in further correction ahead. In the case of a rebound, the 13,550-13,600 zone would act as a hurdle. Defensive viz. FMCG, IT, and pharma tend to do well during the corrective phase but traders should maintain caution in the selection of the stocks as we’re seeing selective participation.
3:45 PM
Nifty FMCG index ends over 2% up in an otherwise weak market
3:42 PM
» More on Top Losers
Top losers on BSE today
| COMPANY | PRICE(rs) | CHG(%) |
|---|---|---|
| UPL | 436.85 | -11.26 |
| I R C T C | 1436.00 | -11.25 |
| DISH TV INDIA | 12.11 | -8.40 |
| HERITAGE FOODS | 306.60 | -7.22 |
| KALPATARU POWER | 304.25 | -6.60 |
3:41 PM
Nifty sectoral indices at close
3:39 PM
MARKET AT CLOSE | Gainers and losers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex dips 144 points, or 0.3 per cent, to settle at 45,960 levels while NSE's Nifty ended at 13,478, down 51 points, or 0.38 per cent.
3:31 PM
IFCI hits 52-week high on heavy volumes; stock rallies 73% in six days
Shares of IFCI hit a 52-week high at Rs 10.75 on Thursday after rising 15 per cent on the BSE on the back of heavy volumes. The trading volumes on the counter more-than-doubled with a combined around 40 million equity shares changing hands on the NSE and BSE, till 03:16 pm. Since November 25, in the past 10 trading days, the state-owned financial institutions' stock price has rallied 73 per cent after the company said it expects improvement in the asset portfolio quality and cash flow. READ MORE
3:28 PM
MARKET CHECK
3:21 PM
Click here for the full list
Recovery from intra-day lows in today's session
| COMPANY | DAY'S LOW(RS) | DAY'S HIGH(RS) | LATEST(RS) | RISE(%) |
|---|---|---|---|---|
| PC JEWELLER | 20.50 | 26.70 | 26.10 | 27.32 |
| HFCL | 18.10 | 22.40 | 21.65 | 19.61 |
| IFCI | 9.05 | 10.74 | 10.50 | 16.02 |
| MAHINDRA LIFE. | 293.00 | 338.40 | 336.00 | 14.68 |
3:16 PM
Top losers on the BSE at this hour
3:05 PM
NEWS ALERT | UPL management to hold conference call at 4:30 pm today: CNBC TV18
2:58 PM
UPL tanks 15% on whistleblower complaint; BSE seeks clarification
Shares of UPL slipped 15 per cent to Rs 416 on the BSE in intra-day trade on Thursday, on heavy volumes, following a media report that stated whistleblower claims the company’s promoters siphoned off money. READ MORE
2:47 PM
MARKET UPDATE:: Sensex off day's low
2:41 PM
Heatmap: S&P BSE Sensex gainers and losers at this hour
2:36 PM
BROKERAGE VIEW | ICICI Securities on Century Plyboards
RATING: BUY | TARGET PRICE: Rs 283
We expect the momentum to continue going forward with 1) recovery in plywood and laminate segments to gain traction from Q3FY21; 2) MDF/PB expected to deliver double-digit growth and margin improvement amid buoyancy in demand; and 3) expected improvement in EBITDA margins driven by superior product mix, operating leverage and cost rationalisation. Maintain BUY.
Topics : Markets BSE Sensex Nifty 50 BSE NSE TCS Wipro IRCTC MARKET WRAP
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Dec 10 2020 | 8:00 AM IST
