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MARKETS: Indices end with minor cuts; m-cap of BSE-listed cos hits new high

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Markets
Market participants booked profit on Wednesday ahead of weekly expiry on Thursday. Indian equities tracked global peers that were trading in the red after a United States official said that tariff on China would continue till the US Presidential elections were over. Markets, however, staged a smart recovery in the fag end of the session and pared most of its losses.

Led by cuts in the financial and banking counters, the benchmark S&P BSE Sensex closed 79.9 points, or 0.19 per cent, lower at 41,872.73 level.  Heavyweights like IndusInd Bank (down 6 per cent), State Bank of India (1.1 per cent), and Infosys (0.9 per cent) were the top drags at the index level. On the upside, Hero MotoCorp, Titan, and Maruti Suzuki settled as top gainers. The Sensex hit an intra-day low of 41,648.11, down 304.52 points.

On the NSE, the broader Nifty50 settled at 12,343.30, down 19 points or 0.15 per cent. The 50-share index slipped below the psychological level of 12,300 level in the intra-day trade to hit a low of 12,278.75.

Sectorally, Nifty Realty and Auto indices edged 1.17 and 1.14 per cent higher, respectively at the close. On the other hand, Nifty Private Bank was the top loser, down 0.8 per cent.

On the contrary, broader continued to trade in the positive territory for the seventh straight session. The S&P BSE mid-cap index was up 0.66 per cent at 15,506.23 level, while the S&P BSE small-cap index was up 1.04 per cent higher at 14,533.86.

The total market capitalisation of BSE-listed companies touched a new high of Rs 159.70 trillion on Wednesday, after strong buying in sectors include information technology (IT), financials, telecom, cement, gas distribution, fertilizers, real estate, metals and auto ancillaries.
 
Investor wealth of BSE-listed firms, measured by market capitalisation (m-cap), had seen a previous record high of Rs 159.34 trillion scaled on August 31, 2018, BSE data shows.

In absolute terms, Reliance Industries alone contributed Rs 1.79 trillion market-cap rise since August 31 levels. The next five companies – HDFC Bank, ICICI Bank, Housing Development Corporation (HDFC), Bharti Airtel and Bajaj Finance - have collectively contributed Rs 5.5 trillion m-cap rise during the period.

Newly listed companies which include Aavas Financiers, Indian Railway Catering and Tourism Corporation (IRCTC), Polycab India and Ujjivan Small Finance, added about Rs 1-trillion in total m-cap, also led the BSE m-cap to hit new high.


GLOBAL MARKETS

Stocks slipped in Asian trade on Wednesday as investors awaited the signing of an initial US-China trade deal, with sentiment somewhat dented by comments from the US Treasury Secretary that tariffs would remain in place for now.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.48 per cent, retreating from its 19-month peak marked on Tuesday, and Japan’s benchmark Nikkei shed 0.5 per cent, off its four-week high hit the previous day.

South Korea’s KOSPI dropped 0.54 per cent and China’s Shanghai Composite and Hong Kong’s Hang Seng shed 0.65 per cent and 0.74 per cent, respectively, while Australian stocks bucked the trend to climb 0.47 per cent on the back of stronger mining shares.

(With inputs from Reuters) 

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