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MARKET WRAP: Sensex loses 167 pts, Nifty ends at 11,512; metals, realty dip
All that happened in markets today.
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.
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.
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)