Thursday, December 26, 2024 | 02:01 AM ISTEN Hindi

MARKET WRAP: Sensex dips 127 pts, Nifty below 12,000; PSBs, metals decline

All that happened in the markets today

SI Reporter New Delhi

Fresh trade war fears and expectations of another rate cut by the Reserve Bank of India (RBI) dragged equity markets lower on Tuesday. Besides, profit-booking in index heavy-weights like HDFC Bank, Reliance Industries, L&T and ICICI Bank contributed to the index fall.

US president Donald Trump said on Monday that the US would restore, with immediate effect, tariffs on all steel and aluminum that are shipped into the US from Brazil and Argentina. He said the countries were indulged in "massive devaluation of their currencies", which was hurting US farmers.

The benchmark S&P BSE Sensex closed at 40,675.45 level, down 126.72 points, or 0.31 per cent. 22 of the 30 stocks listed on the index ended the day in the red. Bajaj Auto, however, setted as the top gainer, up over 3 per cent on the 30-share index. During the day, the Sensex hit an intra-day low of 40,554.04.

On the NSE, the Nifty50 slipped below the crucial 12,000-mark after 5 trading sessions, and settled 54 points, or 0.45 pe cent, lower at 11,994.2-mark.

Sectorally, Nifty PSU Bank index skid the most, down nearly 3 per cent, followed by Nifty Metal index (down 2.5 per cent). On the upside, however, Nifty Realty index closed 1.35 per cent higher.

In the broader market, the S&P BSE mid-cap index slipped close to a per cent to end at 14,824.55, while the S&P BSE small-cap index shed 0.7 per cent to close at 13,410.74.

GLOBAL CUES

Asian shares fell on Tuesday after US President Donald Trump stunned markets by imposing tariffs on imports from Brazil and Argentina, rekindling fears over global trade tensions, while weak US factory data added to the investor gloom.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.43 per cent as Australian shares recorded their worst day in two months with a 2.2 per cent drop. Japan’s Nikkei shed 0.64 per cent.

(With inputs from Reuters)

3:41 PM

Sectoral trends at NSE at close

3:40 PM

Sensex heatmap at close

3:34 PM

Closing Bell

-- The benchmark S&P BSE Sensex closed at 40,675.45 level, down 126.72 points, or 0.31 per cent. 22 of the 30 stocks listed on the index ended the day in the red.

-- On the NSE, the Nifty50, which breached below the crucial 12,000-mark after 5 trading sessions, and settled 47 points, or 0.39 pe cent, lower at 12,001-mark.

3:22 PM

STOCK ALERT | Bajaj Auto is trading close to its 52-week high of Rs 3,290 touched on November 1, 2019

-- Bajaj Auto, up 3% at Rs 3,260, is the top gainer among Sensex stocks

3:12 PM

Sterling and Wilson tumbles 9%, hits fresh low since listing

Shares of Sterling and Wilson Solar slipped to its lowest level since listing, down 9 per cent to Rs 256, on the BSE on Tuesday.

The stock of the company, which is engaged in solar engineering, procurement and construction business, slipped below its previous low of Rs 260 touched on November 20, 2019. It got listed on August 20, 2019. READ MORE

2:49 PM

Sharp recovery in Sensex

2:46 PM

Nifty IT index recovers from day's low

2:45 PM

With history of bankruptcy, top Yes Bank investor may not meet RBI norms

Erwin Singh Braich, who has promised to invest $1.2 billion in beleaguered Yes Bank, has a history of failed businesses, bankruptcies, litigation with the Canadian government, police and family dispute over properties, as per court filings. The troubled history will make it difficult to clear the investment and whether Braich will clear the “fit and proper” criteria for investments in banks, say analysts.

Yes Bank has said none of the potential investors will get more than 25 per cent stake in the bank but taking into account, Braich’s investment is worth Rs 8,640 crore as compared to Rs 15,557 crore market valuation of Yes Bank as of today. READ MORE

2:33 PM

STOCK ALERT:: Zee Entertainment extends fall; stock slips 23% in seven days

2:33 PM

NEWS ALERT | Only sustainable solution to telecom crisis is increase in tariffs: COAI to TRAI

-- Only feasible solution for TRAI to develop a minimum tariff for data: COAI to TRAI

-- See urgent need for tariff correcion for data, 50 times lower than developed markets

(via CNBC TV18)

2:26 PM

Zee Entertainment dips 6%

2:22 PM

Top losers on BSE500 today

COMPANY	PRICE(rs)	CHG(rs)	CHG(%)
VODAFONE IDEA	6.92	-0.87	-11.17
BHARTI INFRA.	241.40	-23.50	-8.87
DISH TV	12.02	-1.02	-7.82
JINDAL STEEL	147.80	-11.60	-7.28
HFCL	18.25	-1.40	-7.12

» More on Top Losers

2:16 PM

Steel sector growth to slow down on weak auto, manufacturing order: Moody's

India's steel demand will slow down on account of weak auto and manufacturing order, but will remain strongest in Asia, Moody's Investors Service said on Tuesday. India will remain the world's second-largest steel producer behind China after having overtaken Japan in 2018, it added. READ MORE