MARKET WRAP: Sensex slips 68 pts on profit-booking; Bharti Airtel down 4%
All that happened in markets today.
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After touching record high during the day, benchmark indices ended Tuesday's session with minor cuts as investors creamed off profit. The S&P BSE Sensex ended at 40,821 levels, down 68 points or 0.17 per cent while NSE's Nifty50 index settled at 12,038, down 36 points or 0.30 per cent.
In the opening deals, the 30-share index of BSE hit a new high of 41,120.28 levels. ICICI Bank (up over 2.50 per cent) ended as the top gainer on the index while Bharti Airtel (down over 4 per cent) emerged as the biggest loser.
On the NSE, the broader Nifty50, too, scaled a fresh peak of 12,132.45 levels in the early trade.
In the broader market, the Nifty Midcap 100 index slipped 0.85 per cent to end at 16,915 levels while the Nifty SmallCap 100 index lost 0.42 per cent to end at 5,721.
Sectorally, media counters took the biggest hit, led by steep fall in ZEE Entertainment Enterprises (ZEEL) shares following the resignation of Subhash Chandra as Chairman of the company. The Nifty Media index declined 3.63 per cent to close at 1,889 levels. Next on the list was IT stocks as the Nifty IT pack lost over a per cent to 14,922 levels.
India VIX settled nearly a per cent lower at 14.89 levels.
BUZZING STOCKS
Zee Entertainment Enterprises (ZEEL) slumped up to 9 per cent to Rs 312.50 on the BSE after its founder Subhash Chandra stepped down as the company's chairman. Chandra becomes non-executive director with immediate effect. The decision was taken following a board meet on Monday. The stock settled at Rs 320, down 7 per cent.
Bharti Airtel shares declined over 4 per cent to Rs 432 on the BSE after rating agency ICRA downgraded the company’s long-term rating from "AA" to "AA-"on higher-than-anticipated provision for dues towards license fees on adjusted gross revenues (AGR) and spectrum usage charge.
On the upside, shares of Aavas Financiers hit a new all-time high of Rs 1,840, up 8 per cent on the BSE, thus zooming more than 100 per cent so far in the calendar year 2019 (CY19), on the back of strong financial performance and sustained buying by foreign portfolio investors (FPIs). The scrip ended at Rs 1,817, up 6.30 per cent.
GLOBAL MARKETS
World stocks hit their highest in almost two years on Tuesday, keeping record highs in sight, following fresh signs that the United States and China were working to end a bitter trade war that has dealt a blow to the global economy. Besides, a strong Hong Kong debut for Chinese e-commerce giant Alibaba in the world's largest share sale of this year, boosted stock markets in Asia.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 per cent to a one-week high. Australian shares were up 0.83 per cent, while Japan's Nikkei stock index rose 0.54 per cent. US stock futures edged 0.08 per cent higher in Asia on Tuesday after Wall Street’s three main stock averages closed at record highs on
Monday, buoyed by hopes for a trade deal and by M&A activity.
In European market, the pan-region Euro Stoxx 50 futures were up 0.03 per cent, German DAX futures were up 0.12 per cent, while FTSE futures were up 0.14 per cent on Tuesday.
(With inputs from Reuters)
3:43 PM
Nifty snapshot
Broad-based sell-off
3:42 PM
Sensex heat map
Bank stocks among key gainers; Bharti Airtel slips over 4%
3:41 PM
Index watch
3:36 PM
CLOSING BELL
The S&P BSE Sensex lost 68 points or 0.17 per cent to end at 40,821 while NSE's Nifty50 index ended at 12,038, down 36 points or 0.30 per cent.
3:27 PM
MARKET CHECK | Around 1.15% equity of ICICI Bank changes hand
3:19 PM
MARKET CHECK | Bhati Infratel plunges 7%
3:07 PM
Buzzing | Jubilant Foodworks hits record high
-- Stock up 31% in 2019 with market cap now exceeding Rs 21,000 cr
-- Stock has gained 15% since results on 22nd October after Dominoes posted store sales growth of 4.9%
-- Stock has gained 15% since results on 22nd October after Dominoes posted store sales growth of 4.9%
3:04 PM
US FDA pulls up Ipca Labs for manufacturing violations at Gujarat plant
Pharmaceutical firm Ipca Laboratories on Tuesday said the US health regulator has found its manufacturing unit in Silvassa, Gujarat, non-compliant with the current good manufacturing practices.
However, the company said that since this manufacturing facility is already under USFDA import alert and presently not doing any US business, this will have no impact on company's current on-going business activities. READ MORE
2:46 PM
Aavas Financiers hits new high, zooms 116% thus far in 2019
Shares of Aavas Financiers hit a new all-time high of Rs 1,840, up 8 per cent on the BSE on Tuesday, thus zooming more than 100 per cent so far in the calendar year 2019 (CY19), on the back of strong financial performance and sustained buying by foreign portfolio investors (FPIs).
Share price of the company has surged 116 per cent from Rs 851 on the BSE. Aavas Financiers is the fourth most value creators among the S&P BSE 500 index in CY19. In comparison, the benchmark S&P BSE Sensex has gained 13 per cent during the same period. READ MORE
2:39 PM
Market check | Sudden decline in markets
2:38 PM
NEWS ALERT | Devendra Fadnavis to address media at 3.30 pm
2:29 PM
Market check
2:28 PM
Market check
2:22 PM
Castrol India slides 4%
2:10 PM
BUZZING STOCK:: Gujarat Gas up 5%
Topics : Markets MARKET WRAP
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First Published: Nov 26 2019 | 7:22 AM IST
