Last hour sell-off drags Sensex 289 pts lower; RIL, financials top losers

All that happened in the markets today

A selloff towards the fag end of Friday's session dragged the benchmark indices lower after a range-bound trade for most part of the day.

Reliance Industries and banking stocks remained the top drags for the indices with the Bank Nifty dipping 1.17 per cent.

The benchmark S&P BSE Sensex ended 289 points, or 0.73 per cent, lower at 39,452, after touching an intra-day low of 39,363. Only five out of the 30 BSE constituents ended the day in the green, with IndusInd, Bharti Airtel, Kotak Bank, Axis Bank, and Tata Motors taking the deepest cuts.

The broader Nifty50 index tumbled 91 points to 11,823. About 808 shares advanced, 1686 shares declined, and 144 shares remained unchanged on the NSE.

On a weekly basis, both the Sensex and Nifty slipped 0.5 per cent each.
 
All the Nifty sectoral indices ended Friday's session with losses. Nifty Realty, down 2.1 per cent, was among the top losers, while Nifty Bank,Nifty Auto, Nifty FMCG, and Nifty Private Bank, all slipped over 1 per cent.

In the broader market, the S&P BSE MidCap index was down 1 per cent to 14,721, while the S&P BSE SmallCap ended the day 110 points, or 0.76 per cent, lower at 14,366. 
 

BUZZING STOCKS

RITES shares rallied 6.05 per cent to Rs 293.65 on the BSE on Friday after the company said its board will meet on June 24, 2019 to consider bonus issue proposal. READ MORE

Gruh Finance shares slipped 8 per cent to Rs 285 on the BSE in early morning trade after the promoter Housing Development Finance Corporation (HDFC) sold more than 4 per cent of the company's paid-up capital in the open market. However, the stock ended the day 5.4 per cent lower at Rs 291.85. READ MORE

Shares of Reliance-Anil Dhirubhai Ambani Group (ADAG) companies continued to reel under pressure, falling by up to 40 per cent in the past seven trading sessions on the back of negative news flow. READ MORE

3:58 PM

Stocks that hit 52-week low on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK LOW	CHG(rs)	CHG(%)
BAYER CROP SCI.	3505.00	3505.00	-104.50	-2.90
BIOCON	248.00	248.00	-8.40	-3.28
BOMBAY BURMAH	1106.65	1103.10	-10.85	-0.97
CEAT	922.10	918.65	-11.95	-1.28
CENTRUM CAPITAL	27.20	26.35	-0.85	-3.03

3:57 PM

Stocks that hit 52-week high on S&P BSE Sensex

COMPANY	PRICE(rs)	52 WK HIGH	CHG(rs)	CHG(%)
BAJAJ FIN.	3519.80	3566.00	-23.05	-0.65
CITY UNION BANK	216.30	219.20	-1.65	-0.76
MANAPPURAM FIN.	141.60	143.80	1.60	1.14
P I INDS.	1155.00	1180.00	12.05	1.05
SYNGENE INTL.	326.55	368.10	-26.40	-7.48

3:57 PM

Most active stocks by volume

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)	VOLUME
YES BANK	115.35	-1.85	-1.58	11681859
GRUH FINANCE	291.85	-16.65	-5.40	9192446
REL. COMM.	1.47	-0.07	-4.55	7164876
PC JEWELLER	57.40	-4.25	-6.89	6546799
DEWAN HSG. FIN.	80.45	-3.80	-4.51	4114053

3:56 PM

Heatmap: S&P BSE Sensex

3:55 PM

Nifty sectoral indices at close

3:54 PM

Market at close

3:33 PM

Market at close

The S&P BSE Sensex ended at 39,452, down 289 points while the broader Nifty50 index settled at 11,811, down 103 points.

3:24 PM

Nifty Auto index is trading over 1% lower

3:22 PM

Reliance Capital extends losses, dips over 9.8%

3:14 PM

Nifty Bank is trading 1.2% lower

3:08 PM

NEWS ALERT | India to impose retaliatory tariffs on 29 US products: CNBC TV18

3:05 PM

Edelweiss on Hexaware

We believe, with the Mobiquity buy, Hexaware has achieved its intended acquisition target. Strategically, Mobiquity looks a perfect fit for Hexaware’s business model as it opens doors to large clients and opportunity to cross-sell its core capabilities. Though the acquisition will lead to short-term stress on balance sheet and could also reduce the dividend payout capability, its synergistic value can be immense if executed properly. We will wait for a few quarters of execution before we reassess our ratings. We maintain ‘HOLD/SP’ with target price of Rs 360 (16x Q2CY20E EPS)

3:04 PM

Emkay Global on IIP numbers

The IIP growth rate touched a six-month high, but it would be too early to expect a reversal in overall economic activity. The high frequency indicators still indicate the consumption as well as investment demand remains weak. Apart from the weak data coming from complementary indicators the adverse base effect would also keep the IIP numbers at subdued level, unless there is a sharp recovery. The pick-up in capital goods segment too seems to be a one-off as the RBI’s assessment of the economy indicates a high output gap

3:04 PM

Edelweiss on Asian Paints

We conclude, post analysis, that not only are the company’s disclosure levels decent, but they also exhibit long-term consistency and stability, inter-alia, on volume growth, cost channelisation (in the right direction), working capital parameters, free cash flow generation and conversion of EBITDA to OCF. The missing link is improvement in performance of subsidiaries, which we envisage to unfold in ensuing years. Maintain ‘BUY’ with a target price of Rs 1,570

3:02 PM

NEWS ALERT | Sold stake in Gruh Finance via block deal: HDFC

Source: BSE filing