MARKET WRAP: Sensex sheds 262 pts; Nifty ends at 11,004; OMCs slip up to 7%
All that happened in markets today.
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Equity market ended in the negative territory on Monday as oil prices surged the most in 28 years in the intra-day trade following attacks on key oil producer Saudi Arabia’s crude facilities over the weekend. Counters such as oil marketing companies (OMCs), tyre, paint and aviation stocks tumbled up to 7 per cent following the development.
The S&P BSE Sensex lost 262 points or 0.70 per cent to close at 37,123 levels, with M&M(down 2.50 per cent) being the top loser and ONGC (up around 1.50 per cent) the biggest gainer. HDFC, Reliance Industries (RIL), SBI and L&T contributed the most to the Sensex's loss while TCS, HUL and Tech Mahindra were among the top gainers.
In the broader market, the S&P BSE MidCap index slumped 38 points, or 0.27 per cent, to 13,628.07 levels, while the S&P BSE SmallCap index surged 83 points, or 0.64 per cent, to 13,096 levels.
On NSE, the Nifty50 index ended at 11,003.50, down 72 points or 0.65 per cent. Out pf 50 constituents, 14 advanced and 36 declined.
The session was highly volatile as India VIX, the volatility index, jumped around 6 per cent to 14.93 levels.
Among the sectoral indices on NSE, PSU bank stocks slipped the most, followed by realty and financial services counters. The Nifty PSU Bank settled at 2,479.55 levels, down 32 points or 1.28 per cent.
BUZZING STOCKS
BUZZING STOCKS
Among individual stocks, Eveready Industries hit an over five-year low of Rs 57 on the BSE after the company announced that Calcutta High Court has restrained from transferring, alienating or encumbering any of its assets till the application filed by Infrastructure Leasing & Financial Services (IL&FS) was disposed of. The High Court Order is likely to delay the company’s plan to sell its battery business to pare debt.
Equitas Holdings slipped 13 per cent to Rs 102 on the BSE after the Securities and Exchange Board of India (Sebi) on Friday returned the draft scheme with regard to Equitas Small Finance Bank (ESFB), citing that it was not in compliance with the regulatory provisions.
On the contrary, Adani Green Energy hit fresh 52-week high of Rs 58 during the session. At close, the stock stood at Rs 55.55, up around 11 per cent on the BSE. Graphite electride makers HEG and Graphite India surged up to 19 per cent.
GLOBAL STOCKS
World stocks halted a four day winning streak and were down 0.16 per cent. European shares fell 0.55 per cent and Wall Street signal a weak start, too, with E-Mini futures for the S&P 500 off 0.34 per cent. In Asia, the blue-chip CSI300 index ended down 0.4 per cent at 3,957.72, while the Shanghai Composite Index closed flat at 3,030.75.
(With inputs from Reuters)
3:57 PM
Here's how sectoral indices on NSE performed today
3:57 PM
Losers and gainers on the S&P BSE Sensex
3:40 PM
CLOSING BELL
The S&P BSE Sensex lost 262 points or 0.70 per cent to end at 37,123 levels while NSE's Nifty50 index ended at 11,003.50, up 72 points or 0.65 per cent.
3:22 PM
MARKET CHECK | Top gainers on the BSE at this hour
3:20 PM
ICICI Securities on Mphasis
The management outlook on above industry growth rate in direct core and in line growth in DXC/HP channel indicates healthy revenue visibility. In addition, a healthy client base, strong TCV (29.9% CAGR in FY17-19) and strong growth in digital/next gen (36% CAGR in FY17-19) provide further proof points. Accordingly, we estimate rupee revenue CAGR of 11.7% (FY19-21E) and EBIT margin of 16.2% in FY21E. However, most positives are already factored in the valuation. Hence, we assign a HOLD rating to the stock. We value Mphasis at 16x P/E on an estimated EPS of ~ Rs 69.1/share (FY21E) with a target price of Rs 1,100. Key risk to the company is high exposure to BFSI segment where IT spending is under pressure.
3:00 PM
Contributions to S&P BSE Sensex's fall today
2:51 PM
Adani Green Energy hits 52-week high, surges 15% on heavy volumes
Adani Green Energy hit fresh 52-week high of Rs 58, up15 per cent in the afternoon deals on the BSE on Monday, on the back of heavy volumes. The stock surpassed its previous high of Rs 57 apiece touched on September 17, 2018 in the intra-day deal.
Trading volumes at the counter jumped 10-fold with a combined 5.3 million shares changing hands on the NSE and BSE till 02:16 pm. In comparison, the S&P BSE Sensex was down 0.72 per cent at 37,117 level.READ MORE
2:48 PM
» More on 52 Week High
BSE500 stocks that hit 52-week high today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(rs) | CHG(%) |
|---|---|---|---|---|
| ABBOTT INDIA | 9905.00 | 10015.00 | 61.15 | 0.62 |
| ADANI GREEN | 55.40 | 57.50 | 5.20 | 10.36 |
| ASTRAL POLY | 1136.50 | 1255.00 | 58.82 | 5.46 |
| PETRONET LNG | 267.00 | 270.65 | 0.40 | 0.15 |
| TIMKEN INDIA | 733.45 | 759.70 | 41.80 | 6.04 |
2:45 PM
Mahindra & Mahindra dips over 2%
2:42 PM
Equitas Holdings tanks 13%
Topics : Markets MARKET WRAP
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First Published: Sep 16 2019 | 7:35 AM IST