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MARKET WRAP: Sensex slips 229 pts ahead of CPI inflation nos; banks tumble

All that happened in markets today.


SI Reporter  | New Delhi 


Disappointing IIP figures for September, cautiousness ahead of the release of CPI inflation data for October and growing worries over US-China trade deal talks sent the benchmark indices over half a per cent lower on Wednesday. Besides, CLSA's statement that India's GDP may slip to 5 per cent in FY20, too, added to the investors' woes. READ MORE
The S&P BSE Sensex slid 229 points or 0.57 per cent to end at 40,116 levels while NSE's Nifty50 index slipped below 11,850-mark to end at 11,840, down 73 points or 0.61 per cent.

IT major TCS (up around 4 per cent) emerged as the top gainer on the Sensex while YES Bank (down over 6.50 per cent) was the biggest loser. ICICI Bank, Axis Bank, Infosys, ITC, and SBI were the top contributors to the index's fall. 

Sectorally, all the indices on the NSE ended in the red. Media stocks bled the most with the Nifty Media index slipping over 4.53 per cent to 1,793.85 levels. Metal stocks came second on the list.

In the broader market, the S&P BSE MidCap index lost 0.77 per cent to end at 14,660 levels while the S&P BSE SmallCap index closed at 13,344.69, down 153 points or 1.13 per cent. 


Shares of Indian Hotels Company soared 6 per cent to Rs 156 on the BSE on Wednesday after the company reported EBITDA (earnings before interest, tax, depreciation and amortisation) margin improvement of 590 basis points (bps) at 17.7 per cent in September quarter (Q2FY20). EBITDA jumped 57 per cent year-on-year (YoY) to Rs 182 crore during the quarter. Both absolute EBITDA and EBITDA margin was highest in the last 10 years. READ MORE

Britannia Industries stock surged nearly 6 per cent to Rs 3,298 apiece on the BSE on Wednesday after the company on Monday posted a profit before tax (PBT) of Rs 498 crore for the second quarter ended September 30, 2019 (Q2FY19), up 8.5 per cent when compared with the corresponding period of the previous fiscal. The stock ended around 5 per cent higher at Rs 3,270.25 on the BSE.  READ MORE 


Asian stocks and Wall Street futures fell on Wednesday, as confusing signals over the extent of progress made in US-China trade talks and concern about intensifying unrest in Hong Kong hurt demand for risky assets. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.03 per cent to the lowest in more than a week. Hong Kong shares slumped 2 per cent to a four-week low, battered by fears that anti-government protests appear to be spiralling out of control.

Chinese shares fell 0.18 per cent, while Japanese shares fell 0.76 per cent.

The pan-region Euro Stoxx 50 futures were down 0.57 per cent, German DAX futures were off 0.58 per cent, and FTSE futures fell 0.54 per cent.

In commodities, oil prices slipped as US-China trade deal prospects dimmed.  

(With inputs from Reuters)




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