MARKET WRAP: Sensex slips 504 pts, Nifty below 11,450 ahead of F&O expiry
Nifty PSU Bank index settled as the biggest loser, down over 6%, followed by Nifty Auto index (down 4%), and Nifty Realty index (down 3.5%). Nifty IT index managed to settle 0.13 per cent higher.
 "Stock brokers reacts as they watch the share prices of BSE sensex in Mumbai. Photo: Kamlesh Pednekar")
Stock brokers reacts as they watch the share prices of BSE sensex in Mumbai. Photo: Kamlesh Pednekar
Indian equity markets continued to consolidate for second consecutive session on Wednesday as investors turned to profit-booking. Sentiment was also impacted as market participants adjusted their position ahead of expiry of Futures and Options (F&O) contracts for the September series on Thursday.
That apart, markets took cues from Asian peers who were spooked by US lawmakers' decision to call for an impeachment inquiry into President Donald Trump.
The S&P BSE Sensex slipped below the 39,000-mark to close 504 points, or 1.29 per cent, lower at 38,593 level. Power Grid Corp (up 4 per cent) managed to hold gains to end as the top gainer at the 30-share index, while State Bank of India (SBI) (down nerly 8 per cent) settled as the top laggard. 23 of 30 constituents ended the day in the red.
On NSE, the broader Nifty50 ended at 11,440-mark, down 148 points, or 1.28 per cent. The index logged second biggest single-day fall this month.
All the sectoral indices, except IT, ended the day with losses. Nifty PSU Bank index settled as the biggest loser, down over 6 per cent, followed by Nifty Auto index (down 4 per cent), and Nifty Realty index (down 3.5 per cent). Nifty IT index managed to settle 0.13 per cent higher.
In the broader market, the S&P BSE Mid-cap closed at 14,225 level, down 255 points or 1.76 per cent. The S&P BSE Small-cap, on the other hand, dipped 205 points, or 1.5 per cent, to settle at 13,383 level.
BUZZING STOCKS
Shares of IndiaMART InterMESH continued their dream run at the bourses and hit a new high on the BSE on Wednesday in an otherwise weak market. The shares now trade at more than double the value of its issue price. The stock of India's largest online business-to-business marketplace was trading 6 per cent higher at Rs 1,971, extending its previous day’s 10 per cent rally on the BSE. The stock closed at Rs 1,855, down 0.69 per cent. READ MORE
Shares of Balrampur Chini Mills (BCML) were trading at nearly two-year high of Rs 174, up 3 per cent, on the BSE on Wednesday on expectations of improved operating performance. In comparison, the S&P BSE Sensex was down 1 per cent or 389 points at 11:00 am. The stock settled 2.23 per cent higher at Rs 171.6 apiece. READ MORE
Click here for more buzzing stocks
Shares of Balrampur Chini Mills (BCML) were trading at nearly two-year high of Rs 174, up 3 per cent, on the BSE on Wednesday on expectations of improved operating performance. In comparison, the S&P BSE Sensex was down 1 per cent or 389 points at 11:00 am. The stock settled 2.23 per cent higher at Rs 171.6 apiece. READ MORE
Click here for more buzzing stocks
GLOBAL CUES
World stocks fell to a two-week low and risk assets dipped lower on Wednesday after US lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty.
MSCI’s global stock index dropped 0.4 per cent in a fourth straight day in the red - the longest losing streak since the end of July rout. Japan's Nikkei slid 0.36 per cent, while South Korea's Kospi shed 1.32 per cent at close. European shares suffered broadly with the pan-European STOXX 600 dropping 1.4 per cent.
(With inputs from Reuters)
4:02 PM
Among PSBs, SBI slumps over 7%
4:00 PM
Auto stocks among worst-hit today
3:39 PM
Sectoral trends at NSE at close
3:38 PM
Top gainers and losers on S&P BSE Sensex during at close
3:37 PM
Closing Bell
The S&P BSE Sensex slipped below the 39,000-mark to close 504 points, or 1.29 per cent, lower at 38,593 level. Power Grid Corp (up 4 per cent) managed to hold gains to end as the top gainer at the 30-share index, while State Bank of India (SBI) (down nerly 8 per cent) settled as the top laggard. 23 of 30 constituents ended the day in the red.
On NSE, the broader Nifty50 ended at 11,440-mark, down 148 points, or 1.28 per cent.
3:24 PM
Ford to transfer struggling India business to joint venture with Mahindra
Mahindra, one of India’s largest automakers, will own 51 per cent of the new entity, said the people, who asked not to be identified discussing the confidential plan. Ford will get equal voting rights and board representation, one of the people said. The venture, to be announced as soon as next week, doesn’t include Ford’s global business services division or an export-focused engine plant in Sanand. READ MORE
3:15 PM
MARKET ALERT | Nifty Midcap index turns negative for the week
3:00 PM
Morepen Labs tanks 20% as Sebi prohibits access to capital mkt for 1 year
The trading volumes jumped more than three-fold, with only sellers being seen on the counter, with a combined 5 million shares changing hands on the BSE and NSE. At 02:40 pm, there were a combined pending sell orders for 301,974 shares on both the exchanges. READ HERE
2:48 PM
NEWS ALERT
2:46 PM
NEWS ALERT | Bank on course to raise capital: YES Bank via BSE filing
Topics : Markets MARKET WRAP
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First Published: Sep 25 2019 | 7:29 AM IST