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MARKET WRAP: Sensex falls 241 pts; banks, FMCG, IT stocks among top losers

All that happened in markets today

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Market Wrap  |  Sensex  |  Nifty

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

The frontline indices ended over 0.5 per cent lower weighed by banking and fast-moving consumer goods (FMCG) stocks.

The S&P BSE Sensex ended at 36,154, down 241 points or 0.66 per cent, while the broader Nifty50 index settled at 10,831, down 57 points or 0.53 per cent.

Among the sectoral indices, the Nifty PSU index, the top loser of day, fell 1.75 per cent led by decline in Bank of India and Union Bank. The Nifty Financial Service index, too ended 1.09 per cent lower dragged by  Edelweiss Financial Services and HDFC. 

In the broader market, S&P BSE MidCap index ended 9 points, or 0.06 per cent lower, while S&P BSE SmallCap index settled at 13,392. The S&P BSE SmallCap index hit a 52-week low of 13,390 on Tuesday, on the back of sharp decline in fertiliser, graphite electrode, paper and auto ancillary stocks after they reported a weak set of numbers for the quarter ended December 2018 (Q3FY19). The index has fallen below its previous low of 13,397 touched on October 9, 2018, in the intra-day trade. READ MORE

BUZZING STOCKS

Shares of Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) tanked 12 per cent to Rs 271 in the intra-day deals on the BSE on Tuesday, as the company posted 27 per cent year-on-year (YoY) decline in net profit at Rs 166 crore in December 2018 quarter (Q3FY19). The fertilizers company had reported a profit of Rs 228 crore in a year-ago quarter. The stock ended the day at Rs 275.50, down 10.45 per cent. 

Aluminium producer Hindalco Industries Ltd posted a 34.4 per cent drop in third-quarter profit on Tuesday, hurt by an increase in input costs, mainly of coal and furnace oil. Revenue from operations rose 8 per cent.


GLOBAL MARKETS

Asian shares edged up on Tuesday as investors hoped a new round of US-China trade talks would help to resolve a dispute that's dented global growth and some corporate earnings.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 per cent. The Shanghai Composite Index rose 0.6 per cent, South Korea's KOSPI climbed 0.4 per cent and Australian shares were up 0.4 per cent. Japan's Nikkei advanced 2 per cent after a market holiday on Monday, lifted by a weaker yen.

(with Reuters input)

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