You are here: Home » Markets » News
Business Standard

Market Wrap, July 18: Sensex slips 318 pts, Nifty below 11,600

Sectorally, PSU Banks slipped the most with the index closing 3.18 per cent lower. This was followed by Nifty Auto index (down 2.74 per cent) and Nifty Metal index (down 2.46 per cent)

Topics
MARKET WRAP

BS Web Team  |  New Delhi 

Bears took charge at D-Street on Thursday as fresh trade war concerns and mixed April-June quarter earnings eroded investors' confidence. Heavy selling was witnessed across the board with stocks of public sector banks, automobiles and metals slipping the most.

The benchmark S&P BSE Sensex closed 318 points, or 0.81 per cent, lower at 38,897 level with YES Bank, Tata Motors, ONGC, and Maruti being the top laggards. In an otherwise weak market, only HDFC, HDFC Bank and ITC remained the top gainers. The broader Nifty50, too, ended at 11,597 mark, down 91 points, or 0.78 per cent.

In the broader market, S&P BSE MidCap closed 179 points, or 1.23 per cent lower at 14,364 level while the S&P BSE SmallCap lost 158 points, or 1.15 per cent, to settle at 13,558 level.

Sectorally, PSU Banks slipped the most with the index closing 3.18 per cent lower. This was followed by Nifty Auto index (down 2.74 per cent) and Nifty Metal index (down 2.46 per cent). Nifty Financial Servcies index closed 0.11 per cent higher.

BUZZING STOCKS

Shares of YES Bank plunged up to 15 per cent to Rs 84 per share iin early morning deals on the BSE on Thursday after the private sector lender reported 91 per cent YoY decline in net profit in the April-June quarter of financial year 2019-20. The stock was trading at its lowest level since April 21, 2014.

Shares of Mindtree plunged 10 per cent to Rs 675, also its fresh 52-week low, in Thursday's early morning trade on the BSE, after the company’s consolidated net profit more than halved to Rs 93 crore in June quarter (Q1FY20), as compared to previous quarter. It had reported a profit of Rs 198 crore in the March quarter (Q4FY19).

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Thu, July 18 2019. 16:53 IST
RECOMMENDED FOR YOU