MARKET WRAP: Sensex, Nifty end flat on a choppy day; IT stocks drag
All that happened in the markets today
 "Statsguru: Rational or irrational exuberance?")
Benchmark indices ended Friday's session with marginal cuts after erasing its intraday gains in the final hour. IT stocks were the top drags and remained subdued throughout the day after the US-based IT services company Cognizant nearly halved its 2019 growth guidance.
The intra-day rise in the indices was spurred by a slip in oil prices with financial stocks gaining the most, before the indices retreated to trade flat in the end.
The S&P BSE Sensex settled 18 points lower for the day at 38,963, with TCS, Hindustan Unilever, TATA Steel, HCL Tech and Infosys dragging the index down. Twelve out of the 30 constituents of the BSE ended the day in red, while the rest settled in green.
The broader index Nifty50 was also down 12.5 points, or 0.11 per cent, to end at 11,712 levels. The market breadth was tilted in favour of declines. About 1,031 stocks fell and 702 shares advanced on National Stock Exchange.
On a weekly basis, the S&P BSE Sensex closed 0.27 per cent lower while and the NSE Nifty50 slipped 0.36 per cent. This was the indices' biggset weekly loss since February 11.
Among sectoral indices, the Nifty IT index was the biggest loser, down almost 1.9 per cent while the Nifty FMCG index also slipped 1.13 per cent. On the other hand, Nifty Realty index and Nifty PSU Bank index gained 1.57 per cent and 1.09 per cent, respectively.
The voltality index, VIX, ended the day 4.35 per cent higher at 23.98.
In the broader market, the S&P BSE MidCap index slipped 15 points, or 0.10 per cent, at 14,783, while the S&P BSE SmallCap index ended the day at 14,548, down 45 points, or 0.31 per cent.
BUZZING STOCKS
Information technology (IT) stocks remained under pressure on Friday, after the US-based IT services company Cognizant nearly halved its 2019 revenue expectations after missing first-quarter results, as it faces sluggish demand in its financial and healthcare businesses. READ MORE
Shares of Balrampur Chini Mills continued their northward journey, with the stock hitting 18-month high of Rs 157 before ending the day at Rs 156.50, up 1.69 per cent, on the expectation of strong earnings growth. The stock was trading at its highest level since December 6, 2017. READ MORE
(With inputs from Reuters)
3:40 PM
» More on Top Gainers
Top gainers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
|---|---|---|---|---|
| RELIANCE POWER | 6.55 | 1.18 | 21.97 | 22092058 |
| GUJ ALKALIES | 527.25 | 34.25 | 6.95 | 29269 |
| DEWAN HSG. FIN. | 141.40 | 7.40 | 5.52 | 2149731 |
| BOMBAY DYEING | 126.70 | 6.60 | 5.50 | 636309 |
| LAK. VILAS BANK | 77.15 | 3.65 | 4.97 | 129026 |
3:40 PM
» More on Top Losers
Top losers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
|---|---|---|---|---|
| INTELLECT DESIGN | 217.45 | -12.85 | -5.58 | 57100 |
| DILIP BUILDCON | 482.00 | -20.90 | -4.16 | 45413 |
| GUJ.ST.PETRONET | 189.10 | -8.20 | -4.16 | 39469 |
| L&T TECHNOLOGY | 1691.00 | -71.85 | -4.08 | 7538 |
| PC JEWELLER | 109.25 | -4.50 | -3.96 | 1510155 |
3:38 PM
Heatmap: S&P BSE Sensex
3:38 PM
Nifty sectoral indices at close
3:37 PM
Market at close
3:36 PM
Market at close | NSE Nifty slides 12.5 points, or 0.11 per cent, to close at 11,712.25
3:36 PM
Market at close | BSE Sensex closes 18 points, or 0.05 per cent, lower at 38,963.26
3:27 PM
Eicher Motors slips 1%
2:45 PM
Buzzing | Eros International slips over 13% in trade
2:40 PM
McLeod Russel India nears all-time low; stock tanks 41% in three days
McLeod Russel India shares continued to reel under pressure, hitting an over decade low of Rs 45.45, down 10 per cent on the BSE on back of heavy volumes. The stock of flagship tea company of the BM Khaitan group was trading at its lowest level since March 12, 2009 on the BSE. READ MORE
2:16 PM
Sudden surge in DHFL stock
2:07 PM
NEWS ALERT | HSIL Q4 result:
- Profit comes at Rs 38.2 crore, up 59.7 per cent, from Rs 23.9 crore y-o-y
- Revenue: rs 808.9 crore, up 22.4 per cent, from Rs 660.8 crore y-o-y
- EBITDA: Rs 113.4 crore, up 52 per cent, from Rs 74.6 crore y-o-y
- EBITDA margin: 14% , up 270 bps, from 11.3 per cent y-o-y
- Revenue: rs 808.9 crore, up 22.4 per cent, from Rs 660.8 crore y-o-y
- EBITDA: Rs 113.4 crore, up 52 per cent, from Rs 74.6 crore y-o-y
- EBITDA margin: 14% , up 270 bps, from 11.3 per cent y-o-y
2:01 PM
NEWS ALERT | HSIL Q4 result: Company announces dividend of Rs 3 per share
1:59 PM
NEWS ALERT | SpiceJet announces 12 new flights connecting Mumbai and Delhi with other domestic cities
1:57 PM
Dilip Buildcon slips 5%
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First Published: May 03 2019 | 7:43 AM IST