Key barometers hit fresh intraday low in mid-afternoon trade. The Nifty managed to trade above the crucial 12,150 level. At 14:24 IST, the S&P BSE Sensex fell 258.85 points or 0.62% at 41,354.34. The Nifty 50 index lost 80.6 points or 0.66% at 12,167.65.
Domestic shares trailed global shares lower as investors appeared to be wary about the fast-spreading coronavirus, which started in the China's Wuhan city. Investors also turned cautious ahead of the Union Budget on Saturday, 1 February 2020.
The broader market held firm in positive terrain. The S&P BSE Mid-Cap index was up 0.12%. The S&P BSE Small-Cap index rose 0.42%.
The market breadth was negative. On the BSE, shares 1,110 rose and 1,317 shares fell. A total of 173shares were unchanged. In Nifty 50 index, 15 stocks advanced while 35 stocks declined.
Stocks in Spotlight:
Wockhardt jumped 8.68% to Rs 325 after the company announced a turnaround in Q3 2019 numbers. On consolidated basis, the pharmaceutical company reported a net profit of Rs 19.21 crore in Q3 December 2019 as against a net loss of Rs 76.86 crore in Q3 December 2018. Total income declined 15.42% YoY to Rs 886.95 crore in Q3 December 2019.
During the nine-months ended 31 December 2019, the company repaid Rs 768 crore (previous year Rs 750 crore) towards various long term debt obligations as per schedule. Debt repayment during the quarter was Rs 359 crore (previous year Rs 347 crore). Gross Debt- Equity ratio as on 31 December 2019 stood at 0.95.
VST Tillers Tractors rose 2.14% to Rs 1375 after the commercial vehicle manufacturer announced that it has entered into a Memorandum of Understanding (MOU) with ZETOR TRACTORS a.s. from Czech Republic. The scope of MOU covers joint development of products, manufacturing of tractors by VST at its new high horsepower manufacturing facility and marketing of the jointly developed product in both the Indian and global markets.
NHPC in an exchange filing announced that it was declared a successful applicant by the Committee of Creditors (CoC) of Jalpower Corporation. Jalpower Corporation is a 120 MW Rangit Stage IV HE Project.
Shares of NHPC were trading 0.73% higher at Rs 27.65.
Numbers to Track:
The yield on 10-year benchmark federal paper fell to 6.568% at 14:15 IST compared with 6.578% in the previous trading session.
In the foreign exchange market, the rupee depreciated against the dollar. The partially convertible rupee was trading at 71.44, compared with its previous closing low of 71.33.
In the commodities market, Brent crude for March 2020 settlement was fell $1.35 a barrel at $62.22 per barrel. The contract fell 2.18% to settle at $60.69 a barrel in the previous session. Crude oil prices slumped to their lowest since October 2019, on concern that the spread of a respiratory virus from China may lower fuel demand.
MCX Gold futures for 5 February 2019 settlement rose 0.46% to Rs 40,539.
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