MARKET WRAP: Sensex tumbles 416 pts, Nifty below 12,300; RIL declines 3%
All that happened in the markets today
 "MARKET LIVE: Sensex extends decline; FMCG, realty stocks gain in trade")
After scaling fresh record highs during the early morning deals on Monday, equity markets slumped nearly a per cent as investors booked profit and sold equities across the board. The benchmark S&P BSE Sensex declined 760 points from record high level of 42,273.87 to hit an intra-day low of 41,503.37. On the NSE, the Nifty50 slipped below the crucial 12,250 mark in the intra-day trade. The 50-share index hit a record high of 12,430.50-mark in the opening deals, before slipping to intra-day low of 12,220.70.
At close, the S&P BSE Sensex was down 416.46 points, or 0.99 per cent, to end at 41,528.91 level. Heavyweights like Reliance Industries, HDFC Bank, TCS, Axis Bank and SBI were the top contributors towards today's fall. At the index level, Power Grid (up 3.7 per cent), Bharti Airtel, and Asian Paints were the top gainers on the Sensex, while RIL (down 3.2 per cent), NTPC, and TCS were the top laggards.
The Nifty50, on the other hand, ended at 12,224.55-mark, down 127.80 points or 1.03 per cent. All the key sectoral indices closed the day in the negative territory, barring Nifty Realty and FMCG indices. Nifty Bank settled 494 points, or 1.6 per cent, lower at 31,096.35-mark, followed by Nifty Private Bank index (down 1.67 per cent).
The broader markets, too, gave up their 9-days gaining streak on Monday and settled the day in the negative territory. The S&P BSE mid-cap index declined 0.57 per cent to close at 15,618.86, while the S&P BSE small-cap index settled 0.43 per cent lower at 14,645.05.
GLOBAL MARKETS
World stocks held near record highs on Monday as generally better data and earnings bolstered sentiment, while oil prices hit their highest in over a week after two large crude production bases in Libya began shutting down following a blockade.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was flat having risen to its highest since June 2018. Japan’s Nikkei added 0.2 per cent to be near its highest in 15 months.
European equities opened a touch lower, with the pan-European STOXX 600 index slipping 0.3 per cent, after gaining nearly 1per cent on Friday. US stock futures, meanwhile, were down marginally.
In the commodities market, Brent Crude Futures were at $65.11 per barrel-mark, up 0.4 per cent at 3:30 pm. WTI Crude, on the other hand, was at $59.07 per barrel, up 0.84 per cent.
(With inputs from Reuters)
4:15 PM
Market Closing Comment :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities
After showing a sideways range movement in the last four sessions, the Nifty witnessed a sharp profit booking today, from the new all time high of 12,430 levels and closed the day on a sharp negative note.
A large negative candle was formed today after opening gap up, this pattern indicates a formation of bearish engulfing of the last five trading sessions high low range. This is negative pattern and one may expect today's swing high to be a crucial top reversal pattern. Follow-through weakness could confirm the reversal.
The short term trend of Nifty seems to have turned down, more weakness could be in store in the short term. The next lower levels to be watched at 12,100, which could be reached in the next few sessions.
3:44 PM
Nifty snapshot at close
3:43 PM
Sensex heatmap at close
3:41 PM
Closing Bell
>> At close, the S&P BSE Sensex was down 416.46 points, or 0.99 per cent, to end at 41,528.91 level. Heavyweights like Reliance Industries, HDFC Bank, TCS, Axis Bank and SBI were the top contributors towards today's fall.
>> The Nifty50, on the other hand, ended at 12,224.55-mark, down 127.80 points or 1.03 per cent.
>> The Nifty50, on the other hand, ended at 12,224.55-mark, down 127.80 points or 1.03 per cent.
3:24 PM
Global carmakers set to firm up India strategy amid auto sales slump
The worst slump in car sales in two decades has not discouraged global carmakers from entering the Indian market. Two years after SAIC-owned MG Motors and Hyundai’s affiliate Kia Motors established a presence here and tasted reasonable success, a clutch of automakers from China such as Great Wall Motors, FAW Haima Automobile, and Changan Automobile are set to firm up their India strategy. READ MORE
3:11 PM
NEWS ALERT | Govt likely to extend timeline of LTCG from 12 months to 24 months: sources to CNBC TV18
>> Govt likely to change applicability of Dividend Distribution Tax
3:06 PM
NEWS ALERT | Govt considering rationalisation of key equity taxes under Budget 2020: sources to CNBC TV18
>> Govt might do away with capital gains tax on selling of property
3:04 PM
Market check
3:02 PM
JUST IN | Zydus and China Medical System Holdings enter into a License Agreement for Desidustat in Greater China
2:57 PM
Adani Enterprises denies wrongdoing in coal supply contracts case
In its FIR filed last week after a detailed preliminary enquiry in the matter, the CBI booked Adani Enterprises Ltd, the then NCCF chairman Virender Singh, the then managing director G P Gupta and senior advisor SC Singhal under IPC sections related to alleged criminal conspiracy, cheating under Indian Penal Code and Provisions of Prevention of Corruption Act, officials said on Thursday. READ MORE
2:48 PM
Domestic air passenger traffic grows to 144 mn at 3.74% in 2019: DGCA
Commenting on the 2019 data, a senior official of the Directorate General of Civil Aviation said, "A bit disappointing. In 2019, we faced headwinds on account of Jet Airways but 2020 is going to be different and the double digit growth should be back sooner rather than later." READ MORE
2:39 PM
Fine Organic soars 6%, hits new high after ICRA upgrades credit rating
“The upgrade in long-term rating of Fine Organic Industries favourably factors in the healthy improvement in scale of operations and cash accruals in FY2019 and H1 FY2020 which are expected to increase further driven by the ramp up in the capacity utilisation of the newly commissioned capacity at Ambernath (Mumbai) and the positive demand outlook for the company’s products in the domestic as well as export markets,” ICRA said in a rating rationale. READ MORE
2:23 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(rs) | CHG(%) |
|---|---|---|---|---|
| ADANI ENTERP. | 227.25 | 232.00 | -1.10 | -0.48 |
| AJANTA PHARMA | 1192.00 | 1197.95 | 58.25 | 5.14 |
| APOLLO HOSPITALS | 1640.25 | 1658.50 | 21.10 | 1.30 |
| ASIAN PAINTS | 1855.95 | 1861.95 | 24.75 | 1.35 |
| ATUL | 4365.95 | 4444.00 | 18.90 | 0.43 |
2:16 PM
NEWS ALERT | Federal Bank slips 1.7% post Q3 result
>> Net profit up 32.1% YoY at Rs 440.6 crore;
>> NII comes up 7.2% YoY at Rs 1,154.9 crore
>> NII comes up 7.2% YoY at Rs 1,154.9 crore
2:07 PM
Earnings Alert | Bank of Maharashtra Q3 results
>> Net profit at Rs 135.3 crore
>> NII at Rs 1,186 crore, up 36% YoY
>> Gross NPA at Rs 15,745 cr, up 2.2% QoQ
>> Net NPA at Rs 4,506.8, up 2.3% QoQ
>> NII at Rs 1,186 crore, up 36% YoY
>> Gross NPA at Rs 15,745 cr, up 2.2% QoQ
>> Net NPA at Rs 4,506.8, up 2.3% QoQ
Topics : MARKET WRAP
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Jan 20 2020 | 7:41 AM IST
