Key benchmarks traded near the day's low in mid-morning trade. The Nifty slipped below 12,150 level. At 11:24 IST, the S&P BSE Sensex, was down 116.59 points or 0.28% at 41,207.22. The Nifty 50 index was down 34.05 points or 0.28% at 12,135.35.
Sentiment across global markets had taken a hit overnight amid concerns about the coronavirus that has killed 9 in China so far. Investors become cautious as any disease outbreak could depress consumer sentiment and spending, including tourism as well as travel and transport related business.
In the broader market, the S&P BSE Mid-Cap index was down 0.07% while the S&P BSE Small-Cap index was up 0.2%.
The market breadth was even. On the BSE, 1027 shares rose and 1016 shares fell. A total of 140 shares were unchanged. In Nifty 50 index, 24 stocks advanced while 26 stocks declined.
Q3 Results:
Zee Entertainment Enterprises fell 3.54% to Rs 273.90 after consolidated net profit fell 37.87% to Rs 349.43 crore on 5.45% decline in net sales to Rs 2,048.65 crore in Q3 December 2019 over Q3 December 2018.
More From This Section
HDFC Asset Management Company rose 0.80% to Rs 3,204.25 after net profit rose 44.90% to Rs 352.55 crore on 11.1% rise in total income to Rs 591.99 crore in Q3 December 2019 over Q3 December 2018.
Jay Bharat Maruti fell 3.94% to Rs 250 after consolidated net profit fell 39.21% to Rs 6.79 crore on 12.1% decline in net sales to Rs 402.74 crore in Q3 December 2019 over Q3 December 2018.
Stocks in Spotlight:
Glenmark Pharmaceuticals rose 0.80% to Rs 353.60. Private equity firm True North has agreed to acquire Glenmark Pharmaceuticals' gynaecology business in India and Nepal for Rs 115 crore in cash. The business accounts for less than 1% of Glenmark's total revenue. True North is making the acquisition through portfolio company Integrace, Glenmark said in a stock-exchange filing. The transaction is likely to be completed by the end of March 2020.
Bharti Airtel down 0.29%. The government approved increasing the limit of foreign investment upto 100% of the paid up capital of the company.
Foreign Markets:
Asian markets were trading mixed on Wednesday as investors took stock of the spread of a new strain of coronavirus from China and weighed the possible consequences of a global pandemic. Public health officials have confirmed more than 400 cases of the illness. Health officials have also confirmed cases in Thailand, South Korea, Japan and Taiwan.
US benchmark stock indexes finished lower on Tuesday after the media reported that a traveler from China was diagnosed with the first U.S. case of coronavirus in Seattle.
Powered by Capital Market - Live News