MARKET WRAP: Sensex loses 167 pts, Nifty ends at 11,512; metals, realty dip
All that happened in markets today.
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Selling in select blue-chip counters such as HDFC, IndusInd Bank, TCS, L&T, ONGC, and Vedanta and weak global cues dragged the equity market lower on Friday. The S&P BSE Sensex lost 167 points or 0.43 per cent to settle at 38,822.57 while the Nifty50 index of the National Stock Exchange (NSE) closed the day at 11,512.40, down 59 points or 0.51 per cent.
On a weekly basis, however, Sensex gained 2.12 per cent while Nifty added 2.11 per cent.
In the broader market, the S&P BSE Mid-cap index ended at 14,266, down 90 points or 0.62 per cent and the S&P BSE Small-cap index lost 109 points or 0.81 per cent to settle at 13,332 levels.
On the sectoral front, metal stocks slipped the most with the Nifty Metal index ending 2.64 per cent lower at 2,453.95 levels. Realty and pharma counters were the other leading losers of the day.
BUZZING STOCKS
Shares of YES Bank hit a fresh six-year low in the intra-day deals on Friday after YES Capital, one of the promoter entities of the private lender, sold nearly 2 per cent stake in the bank. “YES Capital (India) Private Ltd (“YCPL”), part of the promoter group of YES Bank, has today sold 1.8 per cent shareholding in the Bank,” YES Bank said in a press release on Thursday after market hours. The stock ended at Rs 49 apiece on the BSE, down over 4 per cent.
Piramal Enterprises shed over 7 per cent to end at Rs 1,726.55 apiece after a news report suggested Japanese tech giant SoftBank may shelve plans to invest in its parent Piramal Group.
Shares of Indiabulls Group were under pressure on Friday, falling by up to 19 per cent on the BSE on report that the Delhi High Court (HC) has issued notices to Indiabulls Housing Finance, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) & the Ministry of Corporate Affairs (MCA). READ MORE
On the other hand, Bajaj Finance hit a new peak in the intra-day deals. Thus far in the calendar year 2019, Bajaj Finance has outperformed the market by surging 54 per cent, as compared to an eight per cent gain in the Sensex. Shares of the company settled at Rs 4,065.35, up 1.61 per cent.
GLOBAL MARKETS
Asian shares slipped to three-week lows on Friday as the release of a whistleblower complaint against US President Donald Trump added to worries about the global economy, already reeling from the China-US trade war. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.35 per cent, having fallen 1.65 per cent so far this week, while Japan’s Nikkei slid 1.30 per cent.
In Europe, the pan-European STOXX 600 index rose 0.5 per cent, with export-heavy London's FTSE 100 up almost 1 per cent, led by gains in oil majors and miners.
In commodities, oil prices fell up to 0.9 per cent amid threats to demand growth and fading Saudi supply concerns.
(With inputs from Reuters)
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Metal stocks lose sheen
3:44 PM
Index watch
3:43 PM
Top contributors to Sensex's fall
3:39 PM
Sensex heat map
3:38 PM
Indiabulls Real Estate hits over 3-year low; Indiabulls Ventures tank 19%
Shares of Indiabulls Group were under pressure on Friday, falling by up to 19 per cent on the BSE on report that the Delhi High Court (HC) has issued notices to Indiabulls Housing Finance, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) & the Ministry of Corporate Affairs (MCA) READ MORE HERE
3:36 PM
CLOSING BELL
The S&P BSE Sensex lost 167 points or 0.43 per cent to end at 38,823 while NSE's Nifty50 index closed at 11,512.40, down 59 points or 0.51 per cent.
3:07 PM
NEWS ALERT | Daimler India Commercial Vehicles halts production at Oragadam plant: sources to CNBC TV18
-- Production halted due to tepid demand & high inventory of BS-IV vehicles
-- Co asks 1,500 employees not to come to work
-- Shutdown between Sept 25- Oct 7
-- 3 days' worth of paid/earned leaves revoked for all employees
-- Daimler tells CNBC TV18, 3 non production days in Sept, and 6 in Oct
Alert: Daimler India CV recorded sale of 3.78 lakh trucks in 2018 & sold only 1.94 lakh trucks between Jan-Aug 2019
-- Co asks 1,500 employees not to come to work
-- Shutdown between Sept 25- Oct 7
-- 3 days' worth of paid/earned leaves revoked for all employees
-- Daimler tells CNBC TV18, 3 non production days in Sept, and 6 in Oct
Alert: Daimler India CV recorded sale of 3.78 lakh trucks in 2018 & sold only 1.94 lakh trucks between Jan-Aug 2019
3:02 PM
NEWS ALERT | Cox & Kings starts assets sale proceedings to pare debt: sources to CNBC TV18
-- Co needs funds for working capital needs
-- Sale to raise Rs 50,000 cr
-- Travel & leisure, visa processing, UK business on the block
-- Sale to raise Rs 50,000 cr
-- Travel & leisure, visa processing, UK business on the block
3:01 PM
Market check | Sharp fall in Sensex
2:51 PM
NEWS ALERT | Delhi HC issues notice to Indiabulls Housing, RBI, SEBI & MCA
- Delhi HC to next hear the case on December 13;
- PIL against co alleging round-tripping funds of company deserves to be heard: Delhi HC
- PIL against co alleging round-tripping funds of company deserves to be heard: Delhi HC
2:39 PM
MARKET CHECK | Here's how fixed income indices are performing today
2:27 PM
MARKET CHECK | Top 5 gainers on the BSE at present
2:15 PM
Edelweiss Securities on Century Plyboards
We like Century Plyboards (CPBI) due to its integrated business model and leadership in the wood panels industry. It will be key beneficiary of the shift in demand from unorganised to organised led by its strong initiatives in branding and widening distribution reach. Maintain ‘BUY’ with a TP of Rs 211 based on 20x September 2021E EPS. The stock is trading at an attractive 17x FY20E and 13x FY21E EPS.
2:09 PM
MARKET CHECK | Sequent Scientific bleeds 15%
Topics : Markets MARKET WRAP
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First Published: Sep 27 2019 | 7:20 AM IST
