You are here: Home » Markets » News
Business Standard

Market Wrap: Sensex drops 423 points from day's high to close at 35,353

The benchmark indices pared their day's gains and closed nearly half a per cent lower on Tuesday led by a fall in TCS, Infosys, RIL and HDFC twins.

BS Web Team  |  New Delhi 

The benchmark indices pared their day's gains and closed nearly half a per cent lower on Tuesday led by a fall in TCS, Infosys, RIL and HDFC twins.

The S&P BSE ended at 35,353, down 146 points or 0.41 per cent, while the broader Nifty50 index settled at 10,605, down 36 points or 0.34 per cent.

Among sectors, the IT index ended around 2 per cent lower driven by a fall in TCS and Wipro. The Pharma index, too, settled 0.3 per cent lower weighed by Auropharma and Dr Reddy's Labs.

In the broader market, the S&P BSE MidCap index ended 72 points, or 0.53 per cent higher at 13,868, while S&P BSE SmallCap index settled at 13,159, up 40 points, or 0.31 per cent.

Buzzing Stocks

Shares of Balrampur Chini Mills rose 3 per cent to hit a 52-week high of Rs 124 apiece, gaining 22 per cent in the past two weeks on the BSE, after it reported strong earnings for the quarter ended December 2018 (Q3FY19).

Shares of Emami surged 15 per cent to Rs 407 apiece on the BSE after the promoters of the personal products company divested 10 per cent stake in the company for Rs 1,600 crore to reduce the debt. The sale was executed in the stock exchanges on Monday and was sold to SBI Mutual Fund, Premji Invest, Amundi, IDFC, L&T Mutual Fund and others.

Overseas investors shy away from Asian bond in January

Foreign flows into emerging Asian bonds turned negative for the first time in four months in January, data showed, suggesting that a shift away from a tightening bias for regional central banks is dimming the attraction of its debt.

Foreigners sold a net $3.27 billion worth of bonds last month, the highest since June 2018, data from central banks and bond market associations in Malaysia, Thailand, Indonesia, South Korea and India showed.

The five attracted $10.1 billion worth of foreign money in 2018.

Most Asian central banks raised their policy rates last year in an effort to defend their currencies and curb capital outflows as the U.S. Federal Reserve hiked interest rates four times.

First Published: Tue, February 19 2019. 16:04 IST
RECOMMENDED FOR YOU