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Market Wrap: Sensex declines 170 points, Nifty at 10,781; Maruti falls 7%

The S&P BSE Sensex witnessed a swing of around 521 points in the intra-day trade before ending at 36,026, down 170 points.

BS Web Team  |  New Delhi 

After starting on a firm note, bulls lost the momentum in the second half of the session on Friday, owing to heavy selling in Suzuki India (Maruti) and Enterprises (ZEEL).

The S&P BSE witnessed a swing of around 521 points in the intra-day trade before ending at 36,026, down 170 points or 0.47 per cent.

On similar lines, the broader NSE's index signed off the day at 10,781, down 69 points or 0.64 per cent. Out of 50 stocks, 32 constituents ended in the red and 18 in the green.

As many as 215 securities hit their 52-week low during the session including names such as ABG Shipyard, Apex Frozen Foods and Ashok Leyland. On the other hand, eight stocks touched their one-year high.

On a weekly basis, lost 1 per cent while settled with 1.14 per cent decline.

In the broader market, S&P BSE MidCap index lost 1.20 per cent or 178 points to end at 14,682, while S&P BSE SmallCap index closed at 14,000, down 225 points or 1.58 per cent.

Shares of ZEEL ended 31 per cent down at Rs 300 apiece on the National Exchange (NSE) on reports of promoter stake sale. According to news reports, the company is in talks with firms including Sony Pictures to sell half of their holding in the entity.

Suzuki closed over 7 per cent lower at Rs 6,516 on BSE after the country's largest passenger car maker reported a 17.26 per cent fall in its net profit at Rs 1,489.3 crore for the third quarter of FY19. The carmaker had reported PAT of Rs 1,800 crore in the year-ago quarter. On QoQ basis, the figures fell 33.5 per cent.

Following the results announcement, shares of the company slumped nearly 9 per cent to Rs 6,420 levels on BSE.

The company mentioned a slew of headwinds that affected its performance during the quarter under review. They include adverse commodity prices, adverse foreign exchange rates, higher marketing & sales expenditure and higher costs in resources and capacities which were earlier planned to enable a higher estimated growth .

First Published: Fri, January 25 2019. 16:30 IST