You are here: Home » Markets » News
Business Standard

Market Wrap, Nov 5: Sensex slips 54 pts; S&P BSE MidCap plunges over 1%

Snapping their seven-day gaining streak, the benchmark indices ended in the red on Tuesday amid selling in private banks, auto and IT counters

Topics
MARKET WRAP | Media markets | Markets mid small-cap

BS Web Team  |  New Delhi 

Headlines of the day:

>> Indices snap 7-day gaining streak; Sensex slips 54 pts;

>> Broader market underperform as S&P BSE MidCap plunges over 1 per cent;

>> PNB ends over 5% lower as asset quality for Sept qtr worsens; &

>> IndiGo to announce strategic deal with Qatar Airways



Snapping their seven-day gaining streak, the benchmark indices ended in the red on Tuesday amid selling in private banks, auto and IT counters.

The S&P BSE Sensex slipped 54 points or 0.13 per cent to end at 40,248 with YES Bank (up over 3 per cent) being the top gainer and IndusInd Bank (down over 2 per cent) the worst performer. During the session, the index witnessed a swing of 413 points.

On the NSE, the broader Nifty50 ended at 11,917, down 24 points or 0.20 per cent with 27 constituents declining and 23 advancing.

On the sectoral front, all the indices on the NSE but Nifty FMCG ended in the negative territory. Media stocks bled the most, followed by pharma and metal stocks. Nifty Media index slipped around 1.50 per cent to end at 1,839 levels. On the positive side, Nifty FMCG index ended 0.33 per cent higher at 32,361-mark.

In the broader market, the S&P BSE MidCap index lost over a per cent to end at 14,724 while the S&P BSE SmallCap index ended at 13,522, down nearly a per cent.

Stocks that made today:

Bajaj Finance hit a record high of Rs 4,256.30 apiece on the BSE. The stock ended over 2.50 per cent higher at Rs 4,230. The company on Monday launched its Rs 8,500 crore qualified institutional placement (QIP). The shares will be offered in the range between Rs 3,860 and Rs 3,900 apiece.

Punjab National Bank (PNB) ended over 5 per cent down at Rs 64.75 on the BSE after the bank's asset quality worsened for the September quarter of FY20. The bank's gross non-performing assets (GNPA) ratio increased to 16.76 per cent in the recently concluded quarter from 16.49 per cent reported in Q1FY20. Similarly, NNPA increased to 7.65 per cent from 7.17 per cent.

The public sector lender's slippages jumped 38 per cent sequentially from Rs 5,412 crore reported in Q1FY20 to Rs 7,460 crore in the quarter under review, the bank's management said.

Shares of Dabur India rallied around 5 per cent to Rs 482 on the BSE after the company reported a better-than-expected 4.8 per cent year-on-year (YoY) volume growth in September quarter (Q2FY20). Analysts had forecast volume growth in the range of 3.0 - 3.5 per cent for the quarter.

In a yet another news, India's largest airline IndiGo and Qatar Airways will make a strategic business announcement on Nov 7, the two companies said in a statement on Tuesday, sending shares of the budget carrier higher by as much as 4 per cent. The stock eventually ended nearly 2 per cent up at Rs 1,461.45 on the BSE.

Global markets:

Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook. European shares, too, gained in the trade.

In commodities, oil prices steadied. Brent crude futures were down 1 cent at $62.12 a barrel after gaining 0.7 per cent in the previous session. US crude futures were down 9 cents at $56.45 a barrel. They gained 0.6 per cent on Monday.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital
Subscribe Now and get 12 months Free

Business Standard Premium Digital - 12 Months + 12 Months Free
1799.00
subscribe
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer's permission we will charge your card/ payment instrument each month automatically and renew your subscription.
  • In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
  • We do not Refund.
  • No Questions asked Cancellation Policy.
  • You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
  • Subject to the above, self cancel by visiting the "Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 05 2019. 16:49 IST
RECOMMENDED FOR YOU