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MARKET WRAP: Indices end flat, Sensex slips 66 pts; Bharti Airtel falls 8%

All that happened in the markets today

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Markets | MARKET WRAP

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

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In the broader market, the S&P BSE MidCap index fell 0.33 per cent to 14,238 levels.
The Indian stock market ended Wednesday's volatile session on a flat note ahead of the monthly derivative contracts expiry due tomorrow.

The S&P BSE Sensex slipped 66 points, or 0.17 per cent lower at 37,668 levels. The index had hit an intra-day high and low of 38,140 and 37,313.09, respectively. The broader Nifty50 index, meanwhile, settled above 11,100 levels at 11,132, down 22 points, or 0.2 per cent. 

Bharti Airtel tumbled nearly 8 per cent and was the top Sensex loser, followed by Tata Steel and IndusInd Bank (both down over 3 per cent). On the other hand, Axis Bank (up nearly 2 per cent) ended as the top gainer on the index. Shares of Reliance Industries (RIL) settled around 1 per cent higher at Rs 2,229.5 on the BSE after the company announced that global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 per cent equity share. READ MORE

In the broader market, the S&P BSE MidCap index fell 0.33 per cent to 14,238 levels and the S&P BSE SmallCap index settled 0.07 per cent lower at 14,500 levels.   

Among sectoral indices on the NSE, Nifty Media declined the most - down 2.47 per cent to 1,481.50 levels. Nifty Pharma slipped 1.6 per cent to 11,686 levels and Nifty PSU Bank index dipped 1.5 per cent to 1,290 levels. On the other hand, Nifty Realty gained 0.79 per cent to 212 levels. 

Global markets

World shares stabilised and the dollar rose on Wednesday after US stocks gained in overnight trade led by tech shares. The rally in US shares helped balance concerns that new restrictions to counter resurging coronavirus infections will hurt economic recovery.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 per cent for its first gain this week, but the mood was hardly bullish. Japan's Nikkei returned from a two-day holiday to slip 0.1 per cent.

European stocks, too, gained in trade following a jump in Adidas post an upbeat forecast from US rival Nike and better-than-expected euro zone manufacturing data. The pan-European STOXX 600 rose 1.3 per cent, with Germany's DAX, London's FTSE 100 and France's CAC 40 gaining between 1.6 per cent and 2 per cent. 

In commodities, oil edged lower trading below $42 a barrel, pressured by a report that US crude inventories unexpectedly rose and as growing numbers of coronavirus cases around the world raised concern of stalling demand. 

(With inputs from Reuters)

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