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MARKET WRAP: Sensex slips 39 pts; Reliance Ind, SBI decline nearly 2%

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

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Profit-booking across financial counters after last week's rally, and selling in select index heavyweights put lid on gains during Monday's trading session. Despite witnessing a sharp slide during the last trading hour, recovered to settle flat.

The benchmark S&P BSE Sensex closed 38.88 points, or 0.93 per cent, lower at 41,642.66 level, dragged by Reliance Industries, ICICI Bank, State Bank of India (SBI), and ITC.  On the NSE, the broader Nifty50 index declined 9.05 points, or 0.074 per cent, to settle at 12,262.75 level. The Sensex and Nifty50 hit an intra-day low of 41,474.61 and 12,213.25, respectively. 

Shares of Reliance Industries declined as much as 2.77 per cent in the intra-day deals on the BSE on Monday after the government filed petition in the Delhi High Court (HC) seeking to block its $15 billion deal with Saudi Aramco, in view of dues of $3.5 billion in the Panna-Mukta and Tapti (PMT) oil and gas fields. The stock closed 1.88 per cent lower at Rs 1,569.3 apiece. READ MORE

At the index level, Nestle, SBI, RIL, and M&M were the top laggards on the Sensex, while Maruti Suzuki, Hero Motocorp, HDFC, and Titan ended the day as top gainers.

On the sectoral front, Nifty PSU Bank index slumped the most, down 1.29 per cent, while Nifty Realty and FMCG indices, each, closed nearly 0.5 per cent lower. On the upside, Nifty Media index advanced 0.7 per cent. 

The broader settled almost flat on Monday. The S&P BSE mid-cap index slipped 0.09 per cent to 14,822.60 -mark, while the S&P BSE small-cap index erased 0.07 per cent to 13,382.03 level. 

GLOBAL CUES

European shares dipped slightly on Monday after nearing a record high in the previous session, as trading thinned ahead of the Christmas and Boxing Day holidays later in the week. The pan-European STOXX 600 index was down 0.1 per cent, with the banking sector leading declines.

Asian idled near 18-month highs on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan hovered near its highest since June 2018, having risen 1.4 per cent last week and more than 5 per cent this month. For the final quarter of the year, it is up nearly 10 per cent so far.

(With inputs from Reuters)

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