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MARKET WRAP: Sensex snaps 7-day gaining streak, slips 54 pts; Infy down 2%

All that happened in markets today.

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers
Snapping their seven-day gaining streak, the benchmark indices ended in the red on Tuesday amid selling in private banks, auto and IT counters. 

The S&P BSE Sensex slipped 54 points or 0.13 per cent to end at 40,248 with YES Bank (up over 3 per cent) being the top gainer and IndusInd Bank (down over 2 per cent) the worst performer. During the session, the index witnessed a swing of 413 points. 

On the NSE, the broader Nifty50 ended at 11,917, down 24 points or 0.20 per cent with 27 constituents declining and 23 advancing. 

On the sectoral front, all the indices on the NSE but Nifty FMCG ended in the negative territory. Media stocks bled the most, followed by pharma and metal stocks. Nifty Media index slipped around 1.50 per cent to end at 1,839 levels. On the positive side, Nifty FMCG index ended 0.33 per cent higher at 32,361-mark. 

In the broader market, the S&P BSE MidCap index lost over a per cent to end at 14,724 while the S&P BSE SmallCap index ended at 13,522, down nearly a per cent. 

BUZZING STOCKS 

Bajaj Finance hit a record high of Rs 4,256.30 apiece on the BSE. The stock ended over 2.50 per cent higher at Rs 4,230. The company on Monday launched its Rs 8,500 crore qualified institutional placement (QIP). The shares will be offered in the range between Rs 3,860 and Rs 3,900 apiece. 

Punjab National Bank (PNB) ended over 5 per cent down at Rs 64.75 on the BSE after the bank's asset quality worsened for the September quarter of FY20. READ MORE

Shares of Dabur India rallied around 5 per cent to Rs 482 on the BSE after the company reported a better-than-expected 4.8 per cent year-on-year (YoY) volume growth in September quarter (Q2FY20). Analysts had forecast volume growth in the range of 3.0 - 3.5 per cent for the quarter. READ MORE

GLOBAL MARKETS 

Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5 per cent to reach levels last seen in early May, led by gains in Chinese shares.

The bright mood in Asia is seen extending into the European morning, with pan-European Euro Stoxx 50 futures up 0.3 per cent, German DAX futures 0.21 per cent higher, and FTSE futures gaining 0.49 per cent.

In the US, S&P500 futures gained 0.2 per cent in Asia. 

In commodities, oil prices steadied. Brent crude futures were down 1 cent at $62.12 a barrel after gaining 0.7 per cent in the previous session. U.S. crude futures were down 9 cents at $56.45 a barrel. They gained 0.6 per cent on Monday.

(With inputs from Reuters)

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