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MARKET WRAP: Sensex slips 240 points as IAF strikes Pakistan terror camps

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

The benchmark indices trimmed most of the morning losses to end lower on Tuesday. In a knee-jerk reaction, the benchmark indices lost ground in intra-day trade, after the Indian Air Force (IAF) on Tuesday destroyed a major terrorist camp in Pakistan.

The S&P BSE ended at 35,974, down 240 points or 0.66 per cent, while the broader Nifty50 index settled at 10,835, down 45 points or 0.41 per cent. India VIX, a gauge of volatility climbed 11 per cent to 17.04.

The S&P BSE hit a low of 35,714 levels, while the Nifty50 slipped to 10,729 levels before buying at lower levels aided recovery. 

Among sectoral indices, the PSU Bank index ended 1.55 per cent lower driven by a fall in Orient Bank and Union Bank of India. The Financial Services, too, settled nearly 1 per cent lower weighed by Edelweiss Financial Services and Max Financial Services.

In the broader market, the S&P BSE MidCap index ended 0.27 per cent, or 38 points lower at 14,192 levels. The S&P BSE SmallCap index, too, lost 0.5 per cent to close at 13,550 levels.
 


Buzzing Stocks

Shares of Dewan Housing Finance Corporation (DHFL) slipped 8 per cent to Rs 125 apiece on the BSE in early morning trade after rating agency ICRA downgraded the company’s commercial papers (CPs) worth Rs 8,000 crore to ‘A2+’ from ‘A1+’. The stock ended at Rs 130.85, down 4.28 per cent on the BSE.

Shares of Tata Motors ended higher for the 10th straight trading session, up 4.07 per cent at Rs 183 apiece on the BSE, in an otherwise weak market as Tata Sons increased its stake in the company by nearly one percentage points through open market purchases.

Global Markets
 
Asian shares lost steam on Tuesday after scaling a five-month high as investors waited to see if Washington and Beijing can clinch a trade deal, while the pound advanced on hopes Prime Minister will delay a Brexit deadline.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.5 per cent from its highest since mid-September as US and Chinese negotiators work to hammer out a deal that would end a protracted tit-for-tat tariff battle. Chinese shares see-sawed between positive and negative territory after a sharp rally the previous day. Japan’s Nikkei stumbled 0.4 per cent as some selling pressure built ahead of the fiscal year-end.

(with Reuters input)

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