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MARKET WRAP: Sensex falls 425 pts, Nifty settles at 10,944 weighed by autos

All that happened in the markets today

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Market Wrap  |  Sensex  |  Nifty

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Benchmark indices ended over 1 per cent lower on Friday, weighed by a sharp sell-off in the automobile and metal stocks.

The S&P BSE ended at 36,546, down 425 points or 1.15 per cent, while the broader Nifty50 index settled at 10,944, down 126 points or 1.14 per cent.

Among sectoral indices, the Auto index, the top loser of the day, settled 3.6 per cent lower as Tata Motors, MRF and Mahindra & Mahindra (M&M) lost considerable ground. Metal index ended 3.4 per cent lower with SAIL and Vedanta among the top losers.

In the broader market, the S&P BSE MidCap index ended 203 points or 1.40 per cent lower at 14,328, while S&P BSE SmallCap index settled at 13,656, down 122 points or 0.89 per cent.

Buzzing Stocks

Shares of ended 17.88 per cent lower at Rs 150.15 apiece on National Stock Exchange (NSE) after the auto major reported the biggest quarterly loss among Indian corporates as it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter on Thursday. CLICK HERE TO READ HOW BROKEARGES INTERPRET THE RESULTS

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Shares of Mahindra & Mahindra settled at Rs 683, down 2.64 per cent on the BSE after the company and its subsidiary Mahindra Vehicle Manufacturers reported a 60 per cent YoY rise in their consolidated net profit at Rs 1,476 crore for third quarter (October-December) of FY19.

Global Markets
 
Asian stocks lost ground on Friday as investors worried about a broadening global economic slowdown, with sentiment not helped by the absence of any positive signs for a resolution in the US-China trade row.

MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.5 per cent, easing back from a four-month peak touched the previous day. The index was down 0.1 per cent on the week. Hong Kong's Hang Seng lost 0.25 per cent and South Korea's KOSPI retreated 1.1 per cent. Japan's Nikkei tumbled about 2 per cent.

(with Reuters input)

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