Sensex ends 134 pts lower, Nifty settles at 11,505; Nifty Pharma jumps 5%
All that happened in the markets today
 "Stock brokers")
India VIX fell nearly a per cent to 19.93 levels. (Photo credit: Kamlesh Pednekar)
Erasing all their morning gains, the benchmark indices ended in the negative territory on Friday due to selling in the financial counters.
The S&P BSE Sensex ended 134 points, or 0.34 per cent lower at 38,846 with HDFC Bank (down over 2 per cent) being the biggest loser and Bharti Airtel (up around 4 per cent) the top gainer. HDFC Bank, HDFC, Infosys, and Hindustan Unilever (HUL) were among the major contributors to the index's loss.
NSE's Nifty settled at 11,505, up 11 points, or 0.10 per cent. India VIX fell nearly a per cent to 19.93 levels.
On a weekly basis, both Sensex and Nifty ended flat.
On a weekly basis, both Sensex and Nifty ended flat.
Meanwhile, pharma stocks gained big in the trade. The Nifty Pharma index jumped 5 per cent to 12,321 levels with all the 10 constituents advancing. Dr Reddy's hit a record high of Rs 5,496.95 during the trade after the company said it has settled its patent litigation with Celgene for the latter's cancer drug capsules. The stock settled at Rs 5,306, up 10 per cent on the NSE. READ MORE
On the other hand, financial stocks declined. The Nifty Bank index ended over 1 per cent lower at 22,031 levels while the Nifty PSU Bank index lost 1.62 per cent to 1,386.60 levels. READ MORE
In the broader market, the S&P BSE MidCap index ended 0.26 per cent higher at 15,048 while the S&P BSE SmallCap index ended 0.32 per cent lower at 15,300.
Global markets
In the broader market, the S&P BSE MidCap index ended 0.26 per cent higher at 15,048 while the S&P BSE SmallCap index ended 0.32 per cent lower at 15,300.
Global markets
Stocks struggled on Friday as worries about a resurgence in coronavirus cases and lingering disappointment that central banks merely affirmed their monetary support this week, without promising new stimulus, kept investors wary.
In Asia, China stocks staged a strong finish. The blue-chip CSI300 index ended up 2.3 per cent at 4,737.09, while the Shanghai Composite Index rose 2.1 per cent to 3,338.09.
MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.5 per cent. Stocks in China made their strongest gains in three weeks, with the CSI300 index adding 2.2 per cent, a move led by financial companies. The US-heavy MSCI world shares index was up 0.1 per cent, heading for its first weekly gain in three weeks.
In commodities, oil prices rose for a fourth day in a row, putting crude on track for a weekly gain of about 10 per cent, after Saudi Arabia pressed allies to stick to production quotas and banks including Goldman Sachs predicted a supply deficit.
(With inputs from Reuters)
4:27 PM
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MARKET COMMENT | Vinod Nair, Head of Research at Geojit Financial Services
"Indian benchmark indices, after trading in the green for most of the day, succumbed to a round of selling in the last hour of trading, to close the day on a flat note, with a slight negative bias. Global cues were mostly mixed after the US Fed Reserve failed to come out with an immediate stimulus measure and also due to a resurgence in virus infections in some countries. On a weekly basis, the benchmark indices closed flat, although it was characterised by high volatility, fluctuating between gains and losses."
WEEK AHEAD
"Markets have been trading with uncertainty and the clear lack of direction to either side was visible in this week’s trades. The worry was visible as investors would have cleared their positions heading into the weekend. Due to the lack of any fresh triggers for the market, the current uncertainty is expected to continue. But any news with regards to the border tensions with China, or global events can impact the markets on the downside. As such, investors need to be cautious and watch for news-specific movements."
"Markets have been trading with uncertainty and the clear lack of direction to either side was visible in this week’s trades. The worry was visible as investors would have cleared their positions heading into the weekend. Due to the lack of any fresh triggers for the market, the current uncertainty is expected to continue. But any news with regards to the border tensions with China, or global events can impact the markets on the downside. As such, investors need to be cautious and watch for news-specific movements."
3:43 PM
SECTOR WATCH | Nifty PSU Bank index slips over 1.6%
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 slipped 134 points, or 0.34 per cent to settle at 38,846 while NSE's Nifty ended at 11,505, down 11 points, or 0.11 per cent.
3:29 PM
Top 5 gainers on the BSE at this hour
3:23 PM
Bharti Airtel surges around 4%
3:14 PM
Sensex recovers from the day's low, still down over 100 pts
3:06 PM
Click here for the full list![]()
Fall from intra-day high today
| COMPANY | DAY'S HIGH(RS) | DAY'S LOW(RS) | LATEST(RS) | FALL(%) |
|---|---|---|---|---|
| STERLING & WILS. | 239.00 | 217.10 | 219.90 | -7.99 |
| DISHMAN CARBOGEN | 179.15 | 163.00 | 165.50 | -7.62 |
| INDOCO REMEDIES | 289.90 | 266.85 | 269.20 | -7.14 |
| GLAXOSMI. PHARMA | 1785.45 | 1661.25 | 1668.00 | -6.58 |
3:05 PM![]()
Nifty Bank index falls 2%; RBL, Bandhan, HDFC Bank down over 3%
Bandhan Bank, RBL Bank, HDFC Bank, and IDFC First Bank were down 3 per cent, while Federal Bank, State Bank of India (SBI), Punjab National Bank, and IndusInd Bank from the index were down in the range of 1 per cent to 2 per cent on the National Stock Exchange (NSE). READ MORE
2:58 PM
Heatmap: S&P BSE Sensex gainers and losers at this hour
2:52 PM![]()
Dr Reddy's reclaims spot as India's 2nd most valuable pharma company
At 02:17 pm, Dr Reddy's Labs market cap stood at Rs 90,348 crore, while that of Divi's Laboratories was Rs 89,119 crore, BSE data shows. Both these stocks hit their respective highs on Friday. Sun Pharma is the most valued listed company of India with market cap of Rs 1.26 trillion. READ MORE
2:47 PM
» More on 52 Week High![]()
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
|---|---|---|---|
| ADVANCED ENZYME | 249.00 | 254.00 | 1.08 |
| APOLLO HOSPITALS | 1814.70 | 1871.00 | 2.10 |
| BIOCON | 454.85 | 463.55 | 2.88 |
| BIRLASOFT LTD | 200.55 | 206.40 | 3.46 |
| CADILA HEALTH. | 415.15 | 422.80 | 5.31 |
2:42 PM
MARKET CHECK
2:29 PM
MARKET CHECK :: Financials drag indices lower
2:29 PM![]()
BROKERAGE VIEW | Kotak Institutional Equities on Cipla, Lupin
We believe both Lupin and Cipla have nearly 10 million device capacities, with Teva and GSK the only other players having large capacities (each in excess of 20 mn). Given Perrigo’s exit, we expect a prolonged steady pricing scenario for albuterol. We believe Cipla has now scaled up to full capacity at US$10-12/device pricing, and expect Lupin to fully scale-up over the next quarter.
Topics : Markets Dr Reddys ICICI Bank HDFC Bank MARKET WRAP
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First Published: Sep 18 2020 | 7:43 AM IST
