Benchmark indices ended in the red on Thursday largely due to profit-booking by investors in industry heavyweights like Bharti Airtel and Reliance Industries. Other blue-chips such as ITC, Axis Bank, Maruti, IndusInd Bank, and Tata Steel also witnessed selling during the day.
The S&P BSE Sensex ended 76 points or 0.19 per cent lower at 40,575 with Tata Steel (down over 3 per cent) being the biggest loser and Hindustan Unilever (up 1 per cent) the biggest gainer. On the NSE, the Nifty50 index ended at 11,968, down 31 points or 0.26 per cent.
In the broader market, the S&P BSE MidCap index slipped 0.73 per cent to end at 14,759 levels and the S&P BSE SmallCap index lost 57 points or 0.43 per cent to end at 13,357.
Sectorally, media stocks rallied the most followed by realty counters. The Nifty Media index added 4 per cent to 1,939 levels. On the other hand, metal stocks cracked the most. The Nifty Metal index ended over 2 per cent lower at 2,470.
Volatility index India VIX slipped over 2 per cent to 14.83 levels.
Buzzing stocks of the day:
Shares of Bharat Petroleum Corporation Limited (BPCL) slid nearly 6 per cent to Rs 514 on the BSE on Thursday after the Cabinet approved the strategic disinvestment of the government's entire 53.29 per cent stake in the firm. The stock opened almost a per cent higher to hit its fresh 52-week high level of Rs 549.70 before reversing its direction.
Shares of Zee Entertainment Enterprises (ZEEL) surged up to 19 per cent to Rs 364 on the National Stock Exchange (NSE) on Thursday after the promoter Essel Group sold nearly 15 per cent stake in the company for Rs 4,343 crore. The stock ended at Rs 345, up over 12 per cent.
Shares of infrastructure developers including IRB Infrastructure Developers,KNR Constructions, and NCC zoomed up to 19 per cent on the BSE on Thursday after the Union Cabinet on Wednesday amended rules regarding the Toll-Operate-Transfer (TOT) model of the highway monetisation programme.
Global stocks slid further on Thursday as the standoff between the US and China extended beyond trade, reducing the odds of a “phase-one” deal this year and forcing investors to seek shelter in safe-haven assets. The US House of Representatives on Wednesday passed two bills intended to support protesters in Hong Kong and send a warning to China about human rights.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1 per cent to a near three-week lows, with Hong Kong's Hang Seng tumbling 1.6 per cent while Japan's Nikkei dropped 0.5 per cent. Chinese mainland shares dropped 0.3 per cent.
European shares extended their losses from Wednesday with the pan-European STOXX 600 and the trade-sensitive Germany's DAX 30 both sliding 0.7 per cent to fresh two-week lows.
In commodities, oil prices dipped, paring some of their 2 per cent gains made on Wednesday.