Market wrap: Sensex ends 427 points lower, Nifty closes below 17,650

Top headlines
 
·       Sensex ends 427 points lower, Nifty below 17,650
·       Zomato ends 9% down, stock slips below listing price
·       Shoppers Stop hits 52-week high on strong December quarter results
·       Supriya LifeScience tanks 18% on disappointing Q3 earnings
·       Adani Wilmar IPO to open on Jan 27; price band fixed at Rs 218-230 apiece
·       AGS Transact Technologies IPO subscribed 7.78 times on last day
 
Global headwinds continued to weigh on Indian equities on Friday as the benchmarks ended in the negative territory for a fourth straight session.
 
The BSE Sensex closed with a 427-point drop at 59,037, with 10 index constituents ending in the green zone. The index had breached the 59,000 mark to hit an intra-day low of 58,621 earlier in the day.
 
The Nifty50 gave up the 17,650 mark to end at 17,617, down 140 points. The broader markets bled even more with both the BSE midcap and smallcap indices closing 2 per cent lower each on the BSE. The fear gauge, India VIX, soared 6 per cent to end near the 19 mark.
 
Bajaj Finserv, Tech Mahindra, Tata Steel, Bharti Airtel, IndusInd Bank, and Axis Bank were the top laggards on the bourses, while HUL was the top gainer, ending 3 per cent higher on the back of robust Q3 numbers. Maruti, HDFC twins and Nestle India were the other gainers.
 
Sectorally, barring the Nifty FMCG index, all others ended with losses. The Nifty PSB and consumer durables indices were the biggest losers, and closed 3 per cent lower each, followed by Realty, Metals, IT and Pharma, down 1.6-2 per cent. 
 
Among stocks, e-commerce giant Zomato touched a new 52-week low, slipping below its listing price of Rs 115 on the BSE. It closed 9% lower at Rs 113.8. The company's market capitalisation also fell below the Rs 1-trillion mark to Rs 89,537 crore.
 
Similarly, the shares of recently listed Supriya Lifescience tanked over 18 per cent on the BSE after its Q3 earnings failed to impress investors. Even as its financials rose on a yearly basis, the numbers were lower when compared with the September quarter. On a quarterly basis, its profit after tax was 32% lower at Rs 39.6 crore, and revenues 21% down at Rs 117 crore. 
 
On the flip side, Shoppers Stop hit a 52-week high, surging 17 per cent on the BSE after the company reported strong Q3 earnings. The stock later pared gains and closed 4.8% up. The company posted a profit after tax of Rs 50 crore in Q3, compared to a net loss of Rs 21 crore a year ago. Its revenue also grew 35% year-on-year to Rs 1,070 crore.
 
In the primary market, the IPO of AGS Transact Technologies was subscribed 7.78 times as of 4:30 pm on the last day of its subscription period. The Non-institutional investor portion was subscribed 25.6 times, while the retail investor and the qualified institutional buyer categories were subscribed 3.6 and 2.68 times, respectively.
 
Lastly, the Rs 3,600-crore IPO of edible oil major Adani Wilmar will open for subscriptions next week on January 27 and close on January 31. The company has fixed the price band for the issue at Rs 218-230 a share. Adani Wilmar is a 50:50 joint venture between conglomerate Adani group and Singapore's Wilmar group.