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Sensex, Nifty hover near day's low

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The market continued trading in a narrow range near the day's low in mid-afternoon trade. Large-cap stocks corrected on worries of slower economic growth in the September quarter. Rising uncertainty over a US-China trade deal also hurt sentiment. Mid and small-cap stocks, however, bucked weak market trend.

At 14:26 IST, the barometer index, the S&P BSE Sensex, was down 396.57 points or 0.96% at 40,733.60. The Nifty 50 index was down 113.95 points or 0.94% at 12,037.20.

The S&P BSE Mid-Cap index was down 0.09%. The S&P BSE Small-Cap index was up 0.15%.

The market breadth was tilted in favour of bears. On the BSE, 1080 shares rose and 1353 shares fell. A total of 190 shares were unchanged. In Nifty 50 index, just 5 stocks advanced and 45 stocks declined.

Stocks in Spotlight

Indiabulls Housing Finance (IHFL) slumped 11.46% to Rs 295.90. As per media reports, Delhi High Court has adjourned the company's matter to 28 February 2020.

IHFL had sought an explicit direction from the Delhi High Court with reference to normal business getting affected due to the pendency of the Public Interest Litigation. The Court, however, refused to pass any interim orders to that effect.

IHFL tumbled 25.84% from the day's high at Rs 376.80, to hit an intraday low of Rs 279.40.

Dilip Buildcon rose 1.98% to Rs 404 after the company said it received letter of award (LoA) for development of Bundelkhand Expressway project in Uttar Pradesh.

Lemon Tree Hotel advanced 3.19% to Rs 63 after the company said it forayed into Vijayawada, Andhra Pradesh with the launch of 101-rooms hotel.

Numbers to track:

The yield on 10-year benchmark federal paper rose to 6.462% at 14:20 IST compared with 6.468% in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 71.84, compared with its close of 71.62 during the previous trading session.

In the commodities market, Brent crude for February 2020 settlement was down 5 cents at $62.96 a barrel. The contract fell 20 cents, or 0.31% to settle at $63.01 a barrel during the previous trading session.

MCX Gold futures for 5 December 2019 settlement rose 0.24% to Rs 37,814.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 14:29 IST