Sensex, Nifty end marginally lower in volatile trade; metal stocks drag
All that happened in the markets today
 "(Photo: Kamlesh Pednekar)")
(Photo: Kamlesh Pednekar)
Benchmark indices closed Monday's session with marginal cuts, dragged down by metal stocks, amid weak global cues and rise in oil price.
The benchmark S&P BSE Sensex settled 72 points, or 0.18 per cent, lower at 39,123, with ONGC, Tata Steel, Vedanta, Bajaj-Auto, and Tech Mahindra among the biggest losers. The broader Nifty50 dipped 24 points, or 0.2 per cent, to 11,700. Market breadth remained in favour of declines with NSE advance decline ratio at 2:3.
Only two out of the 11 Nifty sectoral indices ended the day in the green, with Nifty Metal, down 1.3 per cent, and Nifty Realty, down 1 per cent, taking the deepest cuts.
In the broader market, the S&P BSE MidCap slipped 46 points, or 0.3 per cent, to 14,578, while the S&P BSE SmallCap index slipped 21 points, or 0.15 per cent, to 14,063.
BUZZING STOCKS
Piramal Enterprises rose 5 per cent to Rs 1,986 on the BSE in early morning trade after a Business Standard report said that Japanese conglomerate SoftBank was in final stages of talks with Piramal group to invest $1 billion. The stock ended the session 3 per cent higher at Rs 1,945.60. READ MORE
Shares of Glenmark Pharmaceuticals hit a 52-week low of Rs 467, down 7 per cent on the BSE in the early morning trade on Monday after the US health regulator USFDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and in manufacturing facilities. The stock settled at Rs 460.60, down 7.92 per cent. READ MORE
Emami's stock price hit an over four-and-half year low of Rs 270, slipping 7 per cent on the BSE, after huge block deals before ending the day 7.6 per cent lower at Rs 267.30. READ MORE
The benchmark S&P BSE Sensex settled 72 points, or 0.18 per cent, lower at 39,123, with ONGC, Tata Steel, Vedanta, Bajaj-Auto, and Tech Mahindra among the biggest losers. The broader Nifty50 dipped 24 points, or 0.2 per cent, to 11,700. Market breadth remained in favour of declines with NSE advance decline ratio at 2:3.
Only two out of the 11 Nifty sectoral indices ended the day in the green, with Nifty Metal, down 1.3 per cent, and Nifty Realty, down 1 per cent, taking the deepest cuts.
In the broader market, the S&P BSE MidCap slipped 46 points, or 0.3 per cent, to 14,578, while the S&P BSE SmallCap index slipped 21 points, or 0.15 per cent, to 14,063.
BUZZING STOCKS
Piramal Enterprises rose 5 per cent to Rs 1,986 on the BSE in early morning trade after a Business Standard report said that Japanese conglomerate SoftBank was in final stages of talks with Piramal group to invest $1 billion. The stock ended the session 3 per cent higher at Rs 1,945.60. READ MORE
Shares of Glenmark Pharmaceuticals hit a 52-week low of Rs 467, down 7 per cent on the BSE in the early morning trade on Monday after the US health regulator USFDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and in manufacturing facilities. The stock settled at Rs 460.60, down 7.92 per cent. READ MORE
Emami's stock price hit an over four-and-half year low of Rs 270, slipping 7 per cent on the BSE, after huge block deals before ending the day 7.6 per cent lower at Rs 267.30. READ MORE
4:01 PM
Heatmap: S&P BSE Sensex
4:00 PM
Nifty sectoral indices at close
4:00 PM
Market at close
3:59 PM
Market at close
The S&P BSE Sensex ended at 39,123, down 72 points while the broader Nifty50 index settled at 1,700, down 24 points.
3:28 PM
Cox & Kings frozen at 20% lower circuit; stock hits all-time low
Cox & Kings shares hit an all-time low of Rs 48.85 after tanking 20 per cent on the BSE on Monday, falling 49 per cent in the past month. In comparison, the S&P BSE Sensex was down 1 per cent during the same period. At 02:46 pm, there were pending sell orders for 931,709 shares on the NSE and BSE. A combined 914,644 shares changed hands on both the exchanges. READ MORE
3:02 PM
NEWS ALERT | Emami confirms selling 10% promoter share in the company: CNBC TV18
-- This is the last tranche of promoter stake sale
-- Buyers are marquee domestic and foreign funds
-- Will be in a comfortable position after this stake sale
-- Buyers are marquee domestic and foreign funds
-- Will be in a comfortable position after this stake sale
2:53 PM
Adani Power jumps over 3%
2:50 PM
Market check | Nifty PSU index is the only index trading positively
2:48 PM
Neelachal Ispat eyes Rs 400 cr Ebitda, marginal net profit in FY20
Neelachal Ispat Nigam Ltd (NINL), a company co-promoted by MMTC Ltd and two Odisha government controlled entities, is eyeing Ebitda (earnings before interest, taxes, depreciation and amortisation) of Rs 400 crore in the current financial year (FY20). NINL is eyeing a marginal net profit in FY20. S S Mohanty, NNL’s vice chairman and managing director, said the company expects to be back in the black powered by the launch of 20 new value-added products. READ MORE
2:38 PM
Nifty Realty index in trading over 1% lower
2:33 PM
Market check | Sudden fall in Sensex
2:30 PM
HDFC Securities on Axis Bank
Recommendation: BUY
Target Price: Rs 895
CMP Rs 771
CMP Rs 771
Over FY19, Axis Bank has demonstrated meaningful improvement in performance metrics. Profitability improved for the retail and wholesale businesses (loss in FY17 & 18). After growing briskly over FY17- 18, SA traction slowed for the bank and system. With moderating slippages and LLPs, AXSB changed course over FY19 towards normalised earnings and RoAAs. Improving asset quality (with rising coverage), better risk practices, focus on high yielding retail products and cost consciousness will drive earnings. Maintain BUY with SOTP value of Rs 895 (2.8x FY21E ABV of Rs 309 + Rs 30 for subs).
2:26 PM
Buzzing | Cox & Kings hits 20% lower circuit
2:23 PM
NEWS ALERT | Rana Kapoor's family is said to plan sale of their mortgage company: BTVI quoting sources
- Nomura said to manage sale of Kapoor family's Art Housing Finance
2:14 PM
NEWS ALERT | Nalanda Capital tenders its entire 10.61% stake in L&T's open offer for Mindtree: sources to CNBC TV18
Alert: L&T's open offer for Mindtree to expire on June 28
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First Published: Jun 24 2019 | 7:20 AM IST
