You are here: Home » Markets » News
Business Standard

Market Wrap Nov 22: Sensex loses 216 pts, Nifty ends at 11,914

Tata Steel (up over 4 per cent) was the top gainer on the index while IT major Infosys (down around 3 per cent) was the biggest loser

Topics
MARKET WRAP | Markets

BS Web Team  |  New Delhi 

Extending its slide for the second consecutive day, the domestic equity market ended with nearly half a per cent loss on Friday, mainly dragged by information technology (IT) shares. Besides, uncertainty on US-China trade deal talks, too, hurt sentiment.

The S&P BSE Sensex lost 216 points or 0.53 per cent to end at 40,359 levels. During the day, the index hit a high and low of 40,653.17 and 40,276.83, respectively. Tata Steel (up over 4 per cent) was the top gainer on the index while IT major Infosys (down around 3 per cent) was the biggest loser.

On the NSE, the broader Nifty50 index ended at 11,914, down 54 points or 0.45 per cent with 29 constituents declining and 21 advancing.

In the broader market, the Nifty Midcap 100 index ended flat at 16,868, up just 5 points or 0.03 per cent while Nifty Small Cap 100 index ended at 5,702, down over 4 points or 0.08 per cent.

India VIX declined over a per cent to 14.82 levels.

Sectorally, IT stocks declined the most with the Nifty IT index ending 2 per cent lower at 14,996 after reports said Goldman Sachs has downgraded counters such as Tata Consultancy Services (TCS), Wipro, and Mphasis. The brokerage, as per reports, noted that the IT sector, as a whole, will face cyclical hiccup ahead and the current valuation of the sector is at premium to historical average. READ MORE

Financial and FMCG stocks, too, ended in the negative territory. On the flip side, metal stocks witnessed sharp rally in the fag-end of the session. Nifty Metal index added over 2 per cent to 2,521 levels.

BUZZING STOCKS

Eicher Motors gained nearly 4 per cent to Rs 22,786 on the BSE, its highest level in the last eight months.

Shares of Essel Propack advanced 6 per cent on the BSE to hit a record high level of Rs 164. The container & packaging company's stock has rallied 41 per cent in the past two weeks after reporting a strong set of numbers for the quarter ended September 2019 (Q2FY20). Shares of the company ended at Rs 154.65 apiece on the BSE.

Network18 Media & Investments rallied 15.50 per cent to Rs 32 on the BSE, thereby surging over 24 per cent in the past two trading days on media reports that Sony was eyeing up to 30 per cent stake in Mukesh Ambani's media and entertainment company.

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.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, November 22 2019. 16:08 IST
RECOMMENDED FOR YOU
.