You are here: Home » Markets » News
Business Standard

Market Wrap, Aug 20: Sensex ends 74 pts lower; PSBs, metals decline

Domestic stocks defied gains in the Asian peers to slip 182 and 69 points at the Sensex and Nifty50, respectively in the intra-day trade. Listen to this podcast for more

BS Web Team  |  New Delhi 

Sentiment at D-Street remained subdued on Tuesday as no stimulus was in sight for the staggering economy. ended today's volatile session in the red with stocks of the public sector banks sliding the most. The losses were, however, capped by gains in the information technology, who gained on the back of a weaker rupee.

The S&P BSE Sensex ended at 37,328 level, down 74 points or 0.20 per cent. Index heavyweights like Reliance Industries, ITC, and HDFC dipped over 1 per cent each to drag the benchmark indices lower. Maruti, Tata Motors, HCL Tech, and Infosys were the top gainers at the 30-share index, while YES Bank, IndusInd Bank, and ITC were the biggest losers. The broader Nifty50, too slipped 37 points, or 0.33 per cent, to settle at 11,017 mark.

Sectorally, only three sectors ended in the green. Nifty PSB index closed 2.4 per cent lower, followed by Nifty metal index, down 1.7 per cent. On the contrary, Nifty auto index gained 1.2 per cent, followed by Nifty IT index, up 1.18 per cent.

In the broader market, S&P BSE mid-cap ended at 13,437 level, down 81 points, or 0.6 per cent. The S&P BSE small-cap index, too, closed 79 points, or 0.62 per cent, lower at 12,570 level.

Shares of YES Bank were trading lower for the second straight day, down 7 per cent at Rs 71 on the BSE on Tuesday. The stock has fallen 10 per cent in the past two days, despite the company successfully raising Rs 1,930 crore through the qualified institutional placement (QIP) route last week.

The stock was trading 15 per cent lower than its QIP price. The private sector lender's share price is less than 1 per cent away from its 52-week low level of Rs 70.50, touched on August 14, 2019 in intra-day deal.

Shares of Sterling and Wilson Solar (SWSL) debuted at Rs 706 apiece on the NSE, a discount of 9.48 per cent to the issue price of Rs 780. On the BSE, the stock listed at Rs 700, 10 per cent lower against the issue price. It, however, ended the session at Rs 725 levels.

SWSL is promoted by the Shapoorji Pallonji Group and is the demerged Solar EPC Division of Sterling and Wilson (SWPL). The company commenced operations in 2011 as the Solar EPC Division of SWPL and demerged from SWPL with effect from April 1, 2017.

First Published: Tue, August 20 2019. 16:47 IST
RECOMMENDED FOR YOU