MARKET WRAP: Sensex slips 171 pts amid weak global cues; RIL up over 2.5%
All that happened in the markets today.
 "Stock market, Sensex")
NSE's Nifty50 index ended at 11,278 levels, down 39 points, or 0.35 per cent.
Tracking weak global cues, the benchmark indices ended in the negative territory on Wednesday; although they recovered from the intraday low amid buying in Reliance Industries (RIL), Bharti Airtel, and Tata Steel. News that AstraZeneca Pharma has "voluntarily paused" a randomized clinical trial of its coronavirus vaccine after a volunteer developed an unexplained illness, weighed on the investor sentiment.
The S&P BSE Sensex slid 171 points, or 0.45 per cent to settle at 39,194 while the NSE's Nifty50 index ended at 11,278 levels, down 39 points, or 0.35 per cent. India VIX dropped nearly 3 per cent to 22.05 levels.
SBI (down over 4 per cent) ended as the biggest loser on the Sensex while Tata Steel (up 3 per cent) was the top gainer. Of 30 constituents, 12 advanced and the rest 18 declined.
RIL gained over 2.5 per cent to Rs 2,161 on the BSE after the company announced that Silver Lake will invest Rs 7,500 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of RIL.
On the other hand, AstraZeneca Pharma tumbled 13 per cent during the day. The stock settled at Rs 4,074, down over 3 per cent. READ MORE
The trend among the Nifty sectoral indices was largely negative, led by Nifty Bank index, down 2 per cent. On the other hand, Nifty Pharma index was the top gainer - up nearly 2 per cent at 11,304 levels.
In the broader market, the S&P BSE MidCap ended 0.28 per cent lower at 14,443 levels while the S&P BSE SmallCap index ended 0.94 per cent lower at 14,302 mark.
Global markets
On the other hand, AstraZeneca Pharma tumbled 13 per cent during the day. The stock settled at Rs 4,074, down over 3 per cent. READ MORE
The trend among the Nifty sectoral indices was largely negative, led by Nifty Bank index, down 2 per cent. On the other hand, Nifty Pharma index was the top gainer - up nearly 2 per cent at 11,304 levels.
In the broader market, the S&P BSE MidCap ended 0.28 per cent lower at 14,443 levels while the S&P BSE SmallCap index ended 0.94 per cent lower at 14,302 mark.
Global markets
Asian shares fell on Wednesday after a rout in technology shares sank Wall Street for a third consecutive day and a major drugmaker delayed testing of a coronavirus vaccine. MSCI's broadest index of Asia-Pacific shares outside Japan slid 1 per cent, with indexes in Australia, China and Japan all skidding.
European shares, however, shrugged off heavy losses for US tech stocks as investors kept faith in an economic recovery from the coronavirus pandemic.
In commodities, oil futures clawed back some of the losses they sustained in the previous session, but a rebound in Covid-19 cases in some countries undermined hopes for a steady recovery in global demand.
(With inputs from Reuters)
4:10 PM
MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services
"After opening with losses and drifting lower, the benchmark indices recovered towards the latter half of trading but still ended the day with losses. With Asian markets all ending in losses, the slight recovery seen in the Indian markets mirrored with the positive opening in the European markets. A sell-off in US tech stocks and a setback to one of the vaccine trials kept markets on edge. Indian markets are expected to be in sync with the global markets and also react to the on-going border tensions with China. There are currently no fresh triggers for the market and we can expect volatility".
3:43 PM
SECTOR WATCH:: Nifty Pharma jumps 2%
3:42 PM
MARKET AT CLOSE:: Losers and gainers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex ended at 38,194, down 171 points, or 0.45 per cent while NSE's Nifty settled 39 points, or 0.35 per cent lower at 11,278 levels.
3:24 PM
Tata Steel gains over 3%
3:15 PM
MARKET CHECK:: Pharma stocks rally, Nifty Pharma up nearly 2%
3:06 PM
Info Edge: Fall in billing a worry, investors should await management views
Info Edge surprised the Street with a better-than-expected performance in the June 2020 quarter (Q1), but the sharp drop in billing is worrying investors. After being up over 4 per cent in Tuesday’s trading session, the Info Edge stock ended the day with just 0.7 per cent gain at Rs 3,313.75. READ MORE
2:56 PM
June Quarter Result :: Eveready Industries logs profit of Rs 24.9 cr vs Rs 6.9 cr YoY
>> Revenue at Rs 263.44 crore vs Rs 331.23 cr YoY
2:53 PM
MARKET CHECK:: India VIX slips over 1% to 22.46 levels
2:50 PM
» More on Most Active Volume
Most active stocks by volume
| COMPANY | PRICE(rs) | CHG(%) |
|---|---|---|
| VODAFONE IDEA | 10.77 | -5.03 |
| DISH TV INDIA | 13.94 | 4.97 |
| S A I L | 39.15 | 1.29 |
| IDFC FIRST BANK | 29.50 | -2.80 |
| BANK OF BARODA | 44.10 | -2.65 |
2:39 PM
Nifty sectoral indices at this hour
2:31 PM
Globus Spirits hits record high in a weak market; surges 67% in 1 month
Shares Globus Spirits were locked in the 5 per cent upper circuit band at Rs 224.80 -- also its fresh record high -- on the BSE on Wednesday on expectation of strong earnings going forward. The stock of the breweries and distilleries has outperformed the market by surging 67 per cent, as compared to 0.29 per cent rise in the S&P BSE Sensex in the past month. READ MORE
2:23 PM
STOCK UPDATE:: SBI at day's low, down over 5%
2:09 PM
Bharat Dynamics extends decline; stock slips 18% in two days
Shares of Bharat Dynamics (BDL) slipped 5 per cent to Rs 315 on the BSE on Wednesday, falling 18 per cent in the past two trading days after the government on Tuesday launched a share sale to divest 15 per cent stake. The stock has fallen below the base price of Rs 330 per share set for the share sale. READ MORE
2:06 PM
Rupee Closing
Rupee ends higher at 73.53 per US dollar vs Tuesday's close of 73.60/$
Topics : Coronavirus Markets AstraZeneca Wall Street IRCTC Route Mobile Limited Eveready Industries Indiabulls Ventures MARKET WRAP
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First Published: Sep 09 2020 | 7:33 AM IST
