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MARKET WRAP: Sensex slips 120 pts, Nifty ends at 10,794; PSBs, autos drag

Nifty PSU Bank index, the top loser of the day, fell 2.10 per cent led by decline in State Bank of India. The Nifty Auto index settled 1.21 per cent lower driven by a fall in Eicher Motors

SI Reporter  | New Delhi 

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Benchmark indices ended around half a per cent lower following a sell-off in the last hour of the session on Wednesday weighed by RIL, L&T, ICICI Bank and State Bank of India.

The S&P BSE Sensex ended at 36,034, down 120 points or 0.33 per cent, while the broader Nifty50 index settled at 10,794, down 38 points or 0.35 per cent.

Among the sectoral indices, the Nifty PSU Bank index, the top loser of the day, fell 2.10 per cent led by decline in State Bank of India and Syndicate Bank. The Nifty Auto index settled 1.21 per cent lower driven by a fall in Eicher Motors and Bosch. 

In the broader market, the S&P BSE MidCap index ended 73 points, or 0.52 per cent lower at 14,035, while S&P BSE SmallCap index settled at 13,340, down 51 points or 0.38 per cent.

BUZZING STOCKS

Shares of Dilip Buildcon (DBL) rallied 13 per cent to Rs 415 apiece in the intra-day on Wednesday, extending its previous day's 4 per cent gain on the BSE after the company completed rehabilitation and up-gradation of NH-18 (New NH-40) from 108km/850km to 160km/200km (Rayachoty to Kadapa section) in Andhra Pradesh. The stock ended 9 per cent higher at Rs 399.40. 

Shares of Ashok Leyland, Mahindra & Mahindra (M&M), Edelweiss Financial Services, BASF India, Finolex Cables, Natco Pharma and Rallis India were among 39 stocks from the S&P BSE 500 index that hit their respective 52-week lows on the BSE in intra-day trade on Wednesday. Aditya Birla Capital, CG Power and Industrial Solutions, Cochin Shipyard, Gujarat Pipavav Port, Jain Irrigation Systems, Philips Carbon Black, Uflex and TV Today Network too hit 52-week lows today.

GLOBAL MARKETS

Asian stocks reached a more than four-month high on Wednesday, lifted by optimism that the United States and China might be able to hammer out a deal to resolve their nearly year-long trade dispute.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent to its highest level since early October and Japan's Nikkei average climbed 1.3 per cent to an eight-week high.

(with Reuters input)

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