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MARKET WRAP: Sensex loses 80 pts, Nifty ends at 10,848; bank stocks slip

All that happened in markets today


SI Reporter  | New Delhi 


Benchmark indices ended Thursday's session on a flat note amid selling in financial counters. The S&P BSE Sensex lost 80 points or 0.22 per cent to end at 36,644, with HDFC (down nearly 3 per cent) being the worst performer and Tata Motors (up 8 per cent) the biggest gainer. 

During the day, the index hit a high and low of 36,898.99 and 36,541.88, respectively. HDFC twins, ICICI Bank, TCS, Hindustan Unilever (HUL) and Reliance Industries (RIL) were the top contributors the index's loss. 

On NSE, the frontline index Nifty50 settled at 10,848, up 3 points or 0.03 per cent with 34 constituents advancing and 16 declining. 

On the sectoral front, realty stocks bled the most, followed by financial services counters. The Nifty Realty index slipped nearly 2 per cent to end at 256 levels. On the contrary, auto stocks gained the most. 

In the broader market, the S&P BSE MidCap index ended at 13,283 levels, up 19 points, or 0.15 per cent, and the S&P BSE SmallCap index gained 90 points or 0.72 per cent to settle at 12,496.

Among individual stocks, auto stocks rallied in the afternoon session on Thursday after Transport Minister Nitin Gadkari said the government was considering a cut in the goods and services tax (GST) rate on hybrid vehicle. Tata Motors advanced the most, surging 8 per cent after its British arm Jaguar Land Rover (JLR) said it plans to launch 30 new or revamped vehicles in China in the next two years. 

ONGC gained over 5 per cent after India's foreign secretary said on Wednesday that India and Russia are targeting $30 billion of annual trade by 2025. "Seeking to boost bilateral trade from its current $11 billion, the two countries announced deals in sectors including energy, defence and shipping after a meeting between Russian President Vladimir Putin and Prime Minister Narendra Modi at an economic forum in Vladivostok," Reuters reported. READ MORE


European shares jumped to fresh one-month highs after of US-China talks set for early October raised hopes of a de-escalation in their trade war before it further damages the world economy. The rally followed gains in Asia, with MSCI’s broadest index of Asia-Pacific shares outside Japan gaining as much as 1.08 per cent to reach its highest since August 2. US stock futures reversed early losses and rose 0.5 per cent.

(With inputs from Reuters)


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