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F&O Expiry: Sensex slips 383 pts, Nifty below 11,000; financials decline

Domestic investors also remained cautious ahead of GDP data for the April-June quarter due on Friday.

Image SI Reporter New Delhi
F&O Expiry: Sensex slips 383 pts, Nifty below 11,000; financials decline

Indices ended August series of Futures and Options (F&O) above 37,000 level at the S&P BSE Sensex, but below the psychological mark of 11,000 at the Nifty50. Markets remained choppy as fears of an impending global recession and worsening US-China trade relations marred investor sentiment.

The benchmark Sensex closed at 37,069 level, down 383 points or 1.02 per cent, dragged by public sector banks. Sun Pharma, Vedanta, NTPC, and ONGC were among the nine stocks that settled in the green, while State Bank of India (SBI), YES Bank, HDFC, and Axis Bank ended the day as top drags. The broader Nifty50, on the other hand, closed at 10,948-mark, down 98 points or 0.89 per cent.

Domestic investors also remained cautious ahead of GDP data for the April-June quarter (Q1FY20) due on Friday. According to a Reuters poll, Indian economy is set for weakest quarter of growth in five years. The poll median showed the economy was expected to have grown at a year-on-year pace of 5.7 per cent in the June quarter, a touch slower than 5.8 per cent in the preceding three months.
 
Sectorally, Nifty PSU Bank index ended 2.5 per cent lower, followed by Nifty Financial Services index (down 1.7 per cent), and Nifty Bank index (down 1.6 per cent). Among the gainers, Nifty Pharma index closed 2.24 per cent higher, followed by Nifty Metal, up 1.4 per cent. 

In the broader market, the S&P BSE MidCap index slipped 22 points or 0.17 per cent to settle at 13,333 level. Meanwhile, the S&P BSE SmallCap index closed 78 points, or 0.62 per cent, lower at 12,430.

BUZZING STOCKS

Shares of Indiabulls Housing Finance cracked  as much as 8 per cent on the National Stock Exchange (NSE) in the intra-day trade after the exchange announced that the company will be excluded from the benchmark index Nifty50, with effect from September 27. The stock eventually closed 0.35 per cent lower at Rs 455 apiece. READ MORE

On the flip side, Berger Paints hit a new high of Rs 372, up one per cent on the BSE on hopes of strong volume growth in decorative segment. It settled 1.04 per cent higher at Rs 370 per share. READ MORE

Click here for more buzzing stocks

GLOBAL CUES

Global bond yields flirted with record lows while stocks inched down on Thursday, as global recession worries from intensifying U.S.-China frictions and the specter of a no-deal Brexit drove investors to safer harbors.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.15 per cent, Singapore shares hit eight-month lows, while Japan’s Nikkei shed 0.07 per cent.

(With inputs from Reuters)
3:39 PM

Sectoral losers and gainers on the NSE

3:39 PM

Losers and gainers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex lost 383 points or 1.02 per cent to settle at 37,069 while NSE's Nifty50 index slipped below the crucial 11,000-mark to end at 10,948 level. 
3:25 PM

Colgate Palmolive gains 3.5%

3:19 PM

Tata Elxsi declines 3%

3:14 PM

Edelweiss Securities on PVR

We remain enthused by PVR’s screen expansion plan and innovation focus. Key risks to our call are Jio’s digital release service; and aggression of OTTs. We retain our TM of 30x earnings per share (EPS) yielding a target price (TP) of Rs 2,040. We maintain 'BUY/SO’. At CMP, the stock is trading at ~43x/29x FY20/FY21E EPS (post Ind AS 116 adjustment); ex of Ind AS 116 the stock is trading at ~31x/22x FY20/21E EPS.
3:11 PM

Market check

2:59 PM

Rupee Check | Trading near day's high

Source: Bloomberg

2:53 PM

Buzzing | NCC slips 6%

2:42 PM

Indiabulls Housing Finance off day's low

2:29 PM

Global markets check

Global bond yields flirted with record lows while stocks inched down on Thursday, as global recession worries from intensifying U.S.-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.15 per cent, Singapore shares hit eight-month lows, while Japan’s Nikkei shed 0.07 per cent. On Wall Street, the S&P 500 gained 0.65% on Wednesday due in part to gains in the energy sector following a rebound in oil prices. But U.S. stock futures lost 0.2 per cent in Asia.
global market rout, world stocks, global stocks

2:27 PM

Stimulus package not enough to stop auto sector decline: Fitch Solutions

The package unveiled, the first of three planned stimulus packages, includes a reduction of taxes, improvement of liquidity in the banking sector (formal and shadow), increased government spending on auto and infrastructure, and accelerated refunds of goods and services tax (GST). READ MORE

2:13 PM

Stocks that hit 52-week low on S&P BSE Sensex

COMPANY PRICE(rs) 52 WK LOW CHG(rs) CHG(%)
ADVANCE. ENZYME. 145.30 142.00 -4.60 -3.07
ERIS LIFESCIENCE 370.15 357.80 -5.20 -1.39
GAYATRI PROJECTS 108.95 103.10 0.00 0.00
GODREJ INDS. 422.50 420.75 -3.25 -0.76
INDIABULLS HOUS. 434.45 421.10 -22.60 -4.94
» More on 52 Week Low
2:00 PM

NEWS ALERT | Govt's determination to sell Air India remains undiluted: Hardeep Singh Puri, MoS, Civil Aviation Ministry

-- Govt should not be in the airlines' business

-- There is buyers' interest in Air India

-- Cabinet Secy level discussions have taken place for Air India; AI panel to meet soon

-- Will find best deal for Air India

(As reported by CNBC TV18)

1:54 PM

Biocon up 3%

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First Published: Aug 29 2019 | 7:12 AM IST

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