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MARKET WRAP: Sensex down 208 pts, Nifty holds 12,100; metals, autos drag
All that happened in the markets today
Topics
MARKET WRAP | Markets
SI Reporter |
Last Updated at January 22, 2020 15:58 IST
EVENT HIGHLIGHTS
Weakness in the Indian equities continued for the third straight day on Wednesday amid volatility in the global markets. Additionally, mixed December quarter results, too, kept investment sentiment at bay.
The S&P BSE Sensex ended a volatile trading session at 41,115.38 level, down 208.43 points or 0.50 per cent on the back of cuts in bluechip companies like HDFC twins, ICICI Bank, Maruti Suzuk, and Kotak Mahindra Bank. At close, ONGC, NTPC, and Maruti Suzuki, down between 2 and 5 per cent, were the top drags on the Sensex, while Nestle India, TCS, and Infosys were the top gainers.
On the NSE, the Nifty50 settled just above the 12,100-mark at 12,106.90 level, down 62.95 points or 0.52 per cent. Sectorally, Nifty IT index settled in the green for the second straight say, up nearly a per cent on the NSE. On the downside, Nifty Metal and Private Bank indices closed 1.6 and 1 per cent lower, respectively.
The broader markets settled with marginal cuts on Wednesday, but outperformed the frontline indices for the second straight day. The S&P BSE mid-cap index erased 0.35 per cent to close at 15,529.91, while the S&P BSE small-cap index ended at 14,631.69 level, down 0.14 per cent.
GLOBAL MARKETS
Asian stock markets recovered ground on Wednesday as China’s response to a virus outbreak tempered some fears of a global pandemic, although Shanghai shares initially slipped amid worries about a hit to domestic demand and tourism.
The MSCI index of Asia-Pacific shares outside Japan rose 0.71 per cent, recouping almost half Tuesday’s drop. Japan’s Nikkei, South Korea’s Kospi index and Hong Kong’s Hang Seng all rose by more than half a percentage point. Australia’s S&P/ASX 200 shrugged off worries to hit a fresh record high. E-mini S&P 500 futures rose 0.5 per cent and EUROSTOXX 50 futures advanced 0.4 per cent.
In Europe, the pan-European STOXX 600 was up 0.2 per cent.
(With inputs from Reuters)
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