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MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

The S&P BSE Sensex crashed 690 points or 1.89 per cent to settle at 35,742. Out of 30 constituents on the index, 27 ended in the red and just three in the green.

SI Reporter  |  New Delhi 

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

Weak global cues and across-the-board selling saw benchmark indices crashing nearly 2 per cent on Friday. The S&P BSE Sensex tumbled 690 points or 1.89 per cent to settle at 35,742. Out of 30 constituents on the index, 28 ended in the red and just two in the green. Heavyweights RIL, Infosys, TCS and HDFC Bank were the major contributors to the Sensex’s decline.

The broader Nifty50 index of the National Stock Exchange (NSE) lost 198 points or 1.81 per cent to close the session at 10,754. Volatility benchmark India VIX jumped nearly 12 per cent to 15.99, indicating increase in volatility in the market.

As many as 40 stocks hit 52-week lows on NSE. The list includes names such as BSE, DSM Ltd and Khadim's India. On the other hand, 8 counters hit one-year high.

In the broader market, the S&P BSE Midcap Index slid 276 points or 1.79 per cent to 15,253 while the S&P BSE SmallCap ended at 14,634, down 148 points or 1 per cent. 

NDTV, Bata outperform

Among individual stocks, shares of NDTV were locked in the upper circuit limit of 10 per cent at Rs 39.25 on the BSE, with only buyers being seen on the counter, after the company and Taboola, the world’s largest content platform, signed a five-year exclusive deal worth more than Rs 3 billion.

Shares of Bata India hit a new high of Rs 1,135, up 3% on the BSE in intra-day trade on Friday in otherwise weak market, surpassing its previous high of Rs 1,128 recorded on Wednesday. Thus far in calendar year 2018, the stock of footwear outperformed the market by surging 52% from Rs 747 level, as compared to 5% rise in the S&P BSE Sensex.

Global Markets

Asian stocks fell further Friday after Wall Street slid on recession fears, with Chinese stocks on track to end 2018 as the world’s worst performing market, with a loss of around 24%.

Japan’s Nikkei 225 index lost 1.1%, on track to end the year off almost 12%. Hong Kong’s Hang Seng, however, ended up 0.5%.

(with Agency inputs)

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

MARKET COMMENT Hemang Jani, Head - Advisory, Sharekhan by BNP Paribas Volatility ruled Indian markets as key benchmark indices ended this week on a negative note. Sensex dropped by over 600 points led by profit booking in Index heavyweights. Market to  closely track GST council meet due tomorrow, likely to see reduction of tax slabs for several items. Global markets to brace more volatility from the ongoing trade tensions and slowdown in economies. Back home movement in Crude oil prices, Currency, Corporate earnings due next month are likely to drive market in the near-term. Given improving macro-economic parameters, Investor needs to adopt stock specific approach. We prefer Apollo Tyres, as rubber prices have corrected from their recent highs in domestic and international markets, thereby improving earning visibility of tyre companies in near term. We prefer Hindustan Unilever, as government to focus on rural and farm sector spending to boost rural consumption

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

Index watch (Image source: NSE)

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

HEAT MAP :: Sensex - Maruti, Infosys, TCS among top losers

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

MARKET AT CLOSE   The S&P BSE Sensex crashed 690 points or 1.89 per cent to settle at 35,742.07 while NSE's Nifty50 index dropped 198 points or 1.81 per cent to end at 10,754.

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

NEWS ALERT | Bandhan Bank in talks with Gruh Fin to merge with itself, reports CNBC TV18; stock trades 2% lower

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

HDFC Securities on International Paper APPM   Taking into the consideration of initiatives for efficient productivity with strong financials, and decent parentage, we have a positive view on the stock. We feel investors could buy the stock at the CMP, and add on dips to the Rs 410-415 band (8.75x FY20E EPS) for sequential targets of Rs 519 (11x FY20E EPS) and Rs 566 (12.0x FY20E EPS). At the CMP of Rs 460, the stock trades at 9.8x FY20E EPS.

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

As many as 36 securities hit 52-week lows in today's trade Symbol Security New 52W/L Prev. Low Prev. Low Date LTP Prev. Close Chng % Chng ADHUNIK Adhunik Metaliks Limited 2.10 2.10 20-Dec-2018 2.20 2.10 0.10 4.76 ADROITINFO Adroit Infotech Limited 17.00 17.00 18-Dec-2018 17.10 18.00 -0.90 -5.00 ARSHIYA Arshiya Limited 24.00 25.60 20-Dec-2018 31.10 25.95 5.15 19.85 CALSOFT California Software Company Limited 24.10 24.40 14-Dec-2018 24.80 25.35 -0.55 -2.17 CHROMATIC Chromatic India Limited 0.95 0.95 20-Dec-2018 1.00 .95 0.05 5.26 DCM DCM Limited 69.05 69.05 19-Dec-2018 74.35 69.90 4.45 6.37 EASUNREYRL Easun Reyrolle Limited 4.85 5.05 20-Dec-2018 5.00 5.05 -0.05 -0.99 EUROMULTI Euro Multivision Limited 1.40 1.45 20-Dec-2018 1.40 1.45 -0.05 -3.45

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

Market witnesses across-the-board selling

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

Why allowing weak state-run banks to lend again could unwind RBI's autonomy After sending two pesky central bank governors packing in a little over two years, Indian bureaucrats have turned their attention to unwinding the monetary authority’s autonomy.   Their first move, unveiled Thursday, is an innocuous – even laudable – infusion of Rs 410 billion ($5.9 billion) into troubled state-run lenders, bumping up this fiscal year’s outlay for bank recapitalization by 63 per cent to Rs 1.06 trillion. The fresh capital partially replaces a shortfall in the Rs 2.11 trillion bank recap announced in October last year. Read more  

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

Top losers on BSE500 COMPANY PRICE() CHG() CHG(%) VOLUME I O C L 140.45 -7.35 -4.97 1356122 SHRIRAM TRANS. 1204.35 -62.35 -4.92 56028 PIDILITE INDS. 1146.00 -46.20 -3.88 50297 SREI INFRA. FIN. 34.90 -1.40 -3.86 367700 GLAXOSMI. PHARMA 1413.00 -56.10 -3.82 909 » More on Top Losers

MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

Trend of buybacks offsetting shares entering market is worrying: Experts   Share buybacks in the domestic market have skyrocketed in the past three years, following the increase in dividend tax and impetus from government disinvestment. This has been to the extent that they are beginning to eat into the domestic equity float. READ MORE

First Published: Fri, December 21 2018. 08:00 IST
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MARKET WRAP: Global cues see Sensex tumble 690 points; IT, auto worst hit

The S&P BSE Sensex crashed 690 points or 1.89 per cent to settle at 35,742. Out of 30 constituents on the index, 27 ended in the red and just three in the green.

Weak global cues and across-the-board selling saw benchmark indices crashing nearly 2 per cent on Friday. The S&P BSE Sensex tumbled 690 points or 1.89 per cent to settle at 35,742. Out of 30 constituents on the index, 28 ended in the red and just two in the green. Heavyweights RIL, Infosys, TCS and HDFC Bank were the major contributors to the Sensex’s decline.

The broader Nifty50 index of the National Stock Exchange (NSE) lost 198 points or 1.81 per cent to close the session at 10,754. Volatility benchmark India VIX jumped nearly 12 per cent to 15.99, indicating increase in volatility in the market.

As many as 40 stocks hit 52-week lows on NSE. The list includes names such as BSE, DSM Ltd and Khadim's India. On the other hand, 8 counters hit one-year high.

In the broader market, the S&P BSE Midcap Index slid 276 points or 1.79 per cent to 15,253 while the S&P BSE SmallCap ended at 14,634, down 148 points or 1 per cent. 

NDTV, Bata outperform

Among individual stocks, shares of NDTV were locked in the upper circuit limit of 10 per cent at Rs 39.25 on the BSE, with only buyers being seen on the counter, after the company and Taboola, the world’s largest content platform, signed a five-year exclusive deal worth more than Rs 3 billion.

Shares of Bata India hit a new high of Rs 1,135, up 3% on the BSE in intra-day trade on Friday in otherwise weak market, surpassing its previous high of Rs 1,128 recorded on Wednesday. Thus far in calendar year 2018, the stock of footwear outperformed the market by surging 52% from Rs 747 level, as compared to 5% rise in the S&P BSE Sensex.

Global Markets

Asian stocks fell further Friday after Wall Street slid on recession fears, with Chinese stocks on track to end 2018 as the world’s worst performing market, with a loss of around 24%.

Japan’s Nikkei 225 index lost 1.1%, on track to end the year off almost 12%. Hong Kong’s Hang Seng, however, ended up 0.5%.

(with Agency inputs)

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