MARKET WRAP: Sensex recovers 300 points from day's low to settle at 35,809

All that happened in the markets today

Benchmark indices ended marginally lower on Friday led by a decline in HDFC, HDFC Bank, Sun Pharma and Axis Bank.

The S&P BSE Sensex ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent. 

Among the sectorial indices, the Nifty Pharma index ended 3.1 per cent lower led a fall in Glenmark and Lupin. The Nifty Metal index settled 2.07 per cent lower weighed by JSW Steel and Welspun Corp. 

Shares of Dr Reddy’s Laboratories fell 30 per cent to Rs 1,873 apiece in the intra-day trade, also their 52-week low on the National Stock Exchange (NSE), after media reported Jefferies, in its research note, said that the Form 483 issued by US Food and Drug Administration (US FDA) to drug firm’s Bachupally plant contains four repeat observations out of the total 11 observations. The stock ended 4.17 per cent lower at Rs 2,556.

In the broader market, the S&P BSE MidCap index ended 167 points, or 1.18 per cent lower at 13,941, while S&P BSE SmallCap index fell 111 points, or 0.83 per cent to settle at 13,253.

Global Markets

Asian stocks fell on Friday, retreating from four-month highs after data out of China raised concerns over deflationary pressures building in the world’s second-biggest economy.
 

MSCI’s broadest index of Asia-Pacific shares outside Japan, which had scaled a four-month high midweek on factors including expectations for reduced US-China trade tensions, was down 1 per cent. The Shanghai Composite Index lost 0.8 per cent following Friday’s discouraging data. Japan’s Nikkei dropped more than 1 per cent and South Korea’s KOSPI shed 1.45 per cent.

(With Reuters input)

3:51 PM

Vinod Nair, Head of Research, Geojit Financial Services on today's markets

Market slid due to broad based selling across sectors as rising yield and weak rupee cast cloud over investor’s sentiment. Volatility may continue due to lack of positive triggers in the domestic market while rising oil prices will impact domestic macros in the near term. Global markets turned negative due to obstacles in the US-China trade deal.

3:39 PM

Sectoral gainers and losers of the day on NSE

3:37 PM

Gainers and losers of the day on S&P BSE Sensex

3:34 PM

Market at close

The S&P BSE Sensex ended at 35,809, down 67 points or 0.19 per cent, while the broader Nifty50 index settled at 10,724, down 22 points or 0.20 per cent.

3:22 PM

Top gainers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
DILIP BUILDCON	447.50	37.65	9.19	198420
REDINGTON INDIA	80.90	6.55	8.81	106610
BHARAT DYNAMICS	245.00	19.35	8.58	41391
INFIBEAM AVENUES	38.00	2.55	7.19	3539233
ADANI POWER	39.55	2.40	6.46	1557075

3:08 PM

Gold climbs Rs 310 on jewellers' buying, global cues

Gold regained its glitter with prices surging by Rs 310 to Rs 34,310 per 10 gram at the bullion market here Friday on increased buying by jewellers coupled with a firming trend overseas, according to the All India Sarafa Association. Silver also rose Rs 170 to Rs 40,820 per kg, supported by increased offtake by industrial units.

 

Bullion traders said sentiment in the domestic market turned upbeat on the back of increased buying by jewellers and retailers and a firming trend in global markets. READ MORE

2:48 PM

NEWS ALERT

Emami promoters create pledge on 48 lakh shares (1% equity) on February 11

2:40 PM

Market reaction: Pulwama attack may push rupee to 72-mark in the short term

The most serious attack to occur since Prime Minister Narendra Modi came to power in 2014 will add to the political uncertainty ahead of national elections this year and may cause at least a temporary reaction in the markets. At least 40 security personnel died in the attack, which Modi described as “despicable” in a tweet on Thursday evening. Jaish-e-Mohammed, a United Nations-listed terror organization, claimed responsibility, according to Asian News International. READ MORE

2:27 PM

RBI governor Shaktikanta Das rules out asset quality review of NBFCs

Reserve Bank of India (RBI) Governor Shaktikanta Das shrugged off liquidity concerns pertaining to non-banking financial companies (NBFCs) and ruled out an asset quality review in the immediate future, saying such a move might not be well-received by the market. READ MORE

2:15 PM

Nifty Metal index is trading over 2% lower

2:01 PM

Market check

1:51 PM

BSE Midcap index hits four-month low; Page Ind, Glenmark falls over 7%

Shares of mid-cap companies were under pressure with the S&P BSE MidCap index hitting a four month low of 13,863, down 2 per cent on the BSE after a decline in pharmaceuticals, financials and consumer discretionary goods & services stocks. The index hit its lowest level since October 26, 2018, was 2.3 per cent away from its 52-week low of 13,539 touched on October 9 in intra-day trade. READ MORE

1:38 PM

Top losers on BSE500

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
DR REDDY'S LABS	2453.00	-216.30	-8.10	392131
PAGE INDUSTRIES	22107.40	-1857.10	-7.75	4590
CAN FIN HOMES	246.65	-19.70	-7.40	84567
ASHOK LEYLAND	78.45	-6.05	-7.16	2956914
GLENMARK PHARMA.	565.95	-42.30	-6.95	187795

1:28 PM

India in stimulus mode: Funds bet big on short-tenure bonds post rate cut

Short-tenor bonds are in demand in India, thanks to rising expectations for more interest-rate cuts. This week’s data showing further easing in inflation has raised the odds of the central bank adding to last week’s cut as early as April just when investors including HDFC Standard Life Insurance Co. are concerned that the looming supply of sovereign debt will push up long-end yields. READ MORE

1:16 PM

Top gainers and losers on S&P BSE Sensex