MARKET WRAP: Sensex slips 167 pts, Nifty ends at 10,981; YES Bank loses 5%
All that happened in markets today.
 "Brokers trade at their computer terminals at a stock brokerage firm in Mumbai. Photo: Reuters")
After trading flat for most part of the session, benchmark indices witnessed sharp decline in the fag-end of the trade on Thursday as investors turned cautious ahead of European Central Bank's (ECB) policy meeting later in the day. It is widely expected that the ECB will deliver stimulus to arrest a slowing global economy.
That apart, investors also await key macro data such as IIP (index of industrial production) numbers for July and retail inflation (CPI) print for August due later in the day.
The S&P BSE Sensex shed 167 points or 0.45 per cent to settle at 37,104.28, with ICICI Bank (up 2 per cent) being the top gainer and YES Bank (down 5 per cent) the biggest loser.
On NSE, the Nifty50 index slipped below the crucial 11,000 level to close at 10,981, down 55 points or 0.50 per cent. Out of 50 constituents, 15 advanced while 35 declined.
Volatility index India VIX dropped over 3 per cent to end at 14.88 levels.
In the broader market, the S&P BSE MidCap index lost 25 points, or 0.18 per cent, to close at 13,610.09 levels, and the S&P BSE SmallCap index rose 16 points, or 0.12 per cent, to 12,908 levels.
Among the sectoral indices on NSE, auto stocks bled the most, followed by FMCG, realty and IT stocks. The Nifty Auto index ended at 7,288.90, down 135 points or 1.81 per cent.
BUZZING STOCKS
Walchandnagar Industries (WIL), the heavy engineering products company, hit an upper circuit limit of 20 per cent at Rs 72.15 apiece on the BSE after the company secured an order worth Rs 77.20 crore plus escalation from the Vikram Sarabhai Space Centre of Indian Space Research Organisation (ISRO).
BUZZING STOCKS
Walchandnagar Industries (WIL), the heavy engineering products company, hit an upper circuit limit of 20 per cent at Rs 72.15 apiece on the BSE after the company secured an order worth Rs 77.20 crore plus escalation from the Vikram Sarabhai Space Centre of Indian Space Research Organisation (ISRO).
Zee Media ended 8 per cent higher after its chief financial officer (CFO) resigned with effect from close of business on September 13, 2019.
GLOBAL MARKETS
Asian stocks advanced to a six-week high on Thursday on hopes for a thaw in US-China trade relations and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent and Tokyo’s Nikkei stock index rose 0.96 per cent. Australian shares were up 0.2 per cent.
Following suit, European shares, too, opened at their highest level since July 30. Investors widely expect the central bank to announce an interest rate cut for the first time since 2016 and restart an asset purchase program. But analysts have warned against setting expectations too high.
Following suit, European shares, too, opened at their highest level since July 30. Investors widely expect the central bank to announce an interest rate cut for the first time since 2016 and restart an asset purchase program. But analysts have warned against setting expectations too high.
(With inputs from Reuters)
3:56 PM
(Source: Manav Chopra, head of research for equity, Indiabulls Ventures)![]()
COMMENT :: Tech view
The Nifty has formed a probable inverse 'Head and Shoulder' pattern and has its neckline at 11,150 levels. There will be support around the 10,850-10,800 levels, which is likely to act as a cushion on the lower side in case of a decline.
The index has been witnessing consolidation since past few sessions, but market breadth continues to remain positive. The index should head up going forward. We expect the index to test 11,300-11,500 zone on the upside and continue to remain bullish. Support: 10,870-10,750; Resistance: 11,050-11,150
The index has been witnessing consolidation since past few sessions, but market breadth continues to remain positive. The index should head up going forward. We expect the index to test 11,300-11,500 zone on the upside and continue to remain bullish. Support: 10,870-10,750; Resistance: 11,050-11,150
(Source: Manav Chopra, head of research for equity, Indiabulls Ventures)
3:53 PM
Stocks that contributed most to Sensex's fall
3:51 PM
Tata Motors dips over 3% on the NSE
3:50 PM
Auto stocks among worst-hit today
3:49 PM
Sensex heat map
3:42 PM![]()
CLOSING BELL
The S&P BSE Sensex lost 167 points or 0.45 per cent to end at 37,104.28 while NSE's Nifty50 index ended at 10,981, down 55 points or 0.50 per cent.
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Global markets check
Asian stocks advanced to a six-week high on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5 per cent and Tokyo’s Nikkei stock index rose 0.96 per cent. Australian shares were up 0.2 per cent. In early European trading, the futures for pan-region Euro Stoxx 50 were up 0.65 per cent, German DAX 0.6 per cent, and London’s FTSE 0.52 per cent.
(From Reuters)
(From Reuters)
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MARKET CHECK | S&P BSE Energy index slips over 1%; RIL, HPCL among top losers
Topics : Markets MARKET WRAP
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First Published: Sep 12 2019 | 7:13 AM IST
