Market wrap, Oct 7: Indices slip for 6th straight day, Sensex loses 141 pts

On the NSE, the broader Nifty50 index settled at 11,126.40, down 48 points or 0.43 per cent.

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3 min read Last Updated : Oct 07 2019 | 5:18 PM IST

The headlines -

>> Market slips for sixth consecutive day, Sensex sheds 141 pts, Nifty ends at 11,126.40;

>> YES Bank jumps 8% after reports say it is in talks with Microsoft Corp and two other technology companies to sell 15% stake;

>> JSW Energy in talks to buy GMR's Odisha power plant for undisclosed sum; &

>> FCI (Food Corporation of India) to be under a pile of Rs 3.3 trn outstanding subsidy and loans by FY20

And, now the news in detail -

Monday turned out to another disappointing day for the domestic equity market as concerns over weak economic growth weighed on investor sentiment. The Reserve Bank of India (RBI) on Friday sharply cut the GDP growth forecast for FY20 to 6.1 per cent from 6.9 per cent, earlier.

Besides, selling in counters such as pharma, metals, auto, PSU banks, and IT dragged the market lower. Additionally, uncertainty over US-China trade war on the global front, too, added to the investors' woes.

Extending its losing streak into the sixth consecutive session, the S&P BSE Sensex lost 141 points or 0.38 per cent to end at 37,532 levels with YES Bank (up over 8 per cent) being the top gainer and Tata Steel (down 2.50 per cent) the biggest loser. ITC, TCS, L&T, HDFC duos, and Infosys contributed the most to the index's fall while Axis Bank, ICICI Bank and YES Bank gave the much-needed support.

Glenmark stock tumbles to 52-week low on USFDA warning letter to Baddi unit

Lakshmi Vilas Bank, IndusInd Bank & 32 other BSE500 stocks hit 52-wk low

Info Edge surges 13% in 2 days on Zomato's fund-raising plan report

PSUs get booted out of top 10 market-cap club; analysts eye divestment

In the broader market, the S&P BSE MidCap index ended at 13,680.62, down 33 points or 0.24 per cent and the S&P BSE SmallCap index lost 96 points or 0.75 per cent to close at 12,713.02.

On the NSE, the broader Nifty50 index settled at 11,126.40, down 48 points or 0.43 per cent.

Volatility index India VIX rose over 1.50 per cent to end at 17.85 levels.

On the sectoral front, pharma stocks bled the most, followed by metal, realty, and PSU bank stocks. The Nifty Pharma index closed at 7,148.95 levels, down 247.95 points or 3.35 per cent.

Market will remain closed on Tuesday on account of Dussehra.

Stocks that made news today -

Shares of Adani Green Energy (AGEL) continued their upward journey on Monday to hit a fresh 52-week high of Rs 68.65, up 6 per cent in an otherwise weak market. The company on Friday raised $362.5 million through a dollar bond issuance.

Zee Entertainment Enterprises (ZEE) hit an over six-year low of Rs 204, plunging 14 per cent during the day, after the company announced that its promoter Essel Media Ventures have pledged 10.71 per cent equity with VTB capital. However, the stock recovered from the day's low to end at Rs 251.50 apiece, up over 6 per cent.

Shares of Aurobindo Pharmaceuticals, Bharat Heavy Electricals Limited (BHEL), Ambuja Cements, Grasim Industries, Zee Entertainment Enterprises, Glenmark Pharmaceuticals, Lupin and LIC Housing Finance were among the 34 stocks from the BSE500 index that hit their respective 52-week lows on the BSE during the session.

Market wrap, Oct 7: Indices slip for 6th straight day, Sensex loses 141 pts

On the NSE, the broader Nifty50 index settled at 11,126.40, down 48 points or 0.43 per cent.

Listen to This Article

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