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Market Wrap: Indices end in the green but witness worst July in 17 years

The benchmark BSE S&P Sensex and broader Nifty50 gained nearly 450 points and 146 points respectively from lows to end in the green on Wednesday

BS Web Team  |  New Delhi 

The benchmark BSE S&P Sensex and broader Nifty50 gained nearly 450 points and 146 points respectively from lows to end in the green on Wednesday. Domestic indices traded lower for better part of the day but saw sharp surge during the last trading hour. Weak corporate earnings, economic slowdown and tax issues continued to weigh down investment sentiment.

The Nifty50 slipped to the lowest level since March 6, 2019 to hit an intra-day low of 10,999 mark. As per reports, witnessed the worst July in 17 years, managing to hold gains slightly better than the one seen in 2002. While Sensex slipped 4.9 per cent, and Nifty50 shed 5.7 per cent in July, Nifty Midcap in logged worst performance in 17 years.

The Sensex gained 84 points, or 0.22 per cent, to end the day at 37,481 levels with IndusInd Bank, Tata Steel, YES Bank, and Hero MotoCorp being the top gainers. Axis Bank, Bharti Airtel, Reliance Industries and NTPC, on the other hand, slipped the most during the day. The broader Nifty50, too, ended at 11,118 mark, up 32 points, or 0.29 per cent.

In the broader market, S&P BSE Mid-cap closed the day with gains of 97 points, or 0.72 per cent, at 13,643 mark. The S&P BSE Small-cap settled 42 points, or 0.34 per cent, higher at 12,692 levels.

Sectorally, only media, financial services and realty ended in the red. Nifty Metal index was the lead gainer, closing 2.42 per cent higher, followed by Nifty PSU Bank index, up 1.73 per cent. Nifty media slipped the most, down 2.92 per cent.

Shares of Coffee Day Enterprises, the parent company of India's largest coffee chain Cafe Coffee Day (CCD), hit lower circuit limit of 20 per cent for the second consecutive day on Tuesday, after reports said the body of the company's founder VG Siddhartha has been found from the Nethravathi river.

Shares of Gujarat Gas zoomed 17 per cent to Rs 192 in Wednesday's early morning trade on the BSE in an otherwise weak market after the company reported a strong 92 per c

First Published: Wed, July 31 2019. 15:57 IST
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