MARKET WRAP: Sensex tanks 491 pts, ends below 39k at 1-month closing low
All that happened in the markets today
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Benchmark indices slipped on Monday, dented by losses across sectors, after India slapped higher tariffs on certain US products in retaliation to Washington’s decision to remove certain trade privileges for New Delhi.
The government, after dragging its feet for almost a year, decided to increase tariffs on 29 high-value US agricultural and industrial imports by up to 50 per cent. READ THE FULL REPORT HERE
The investor sentiment was further dampened by investor concerns over patchy monsoon and the government’s ability to bolster a slowing economy.
The benchmark S&P BSE Sensex ended the day 491 points, or 1.25 per cent, lower at 38,961, with Tata Steel, Tata Motors, ONGC, Vedanta, and Sun Pharma topping the list of losers. Only YES Bank, Coal India, and Infosys out of the 30 BSE constituents ended the session in the green.
The broader Nifty50 index dipped 151 points, or 1.28 per cent, to 11,672. About 685 shares on the NSE advanced, 1,847 declined, and 126 shares remained unchanged.
All the Nifty sectoral indices closed Monday's session with losses, with Nifty Metal, down 2.87 per cent, and Nifty Auto, down 1.69 per cent, taking the deepest cuts. Moreover, Nifty Bank, Nifty Fin Service, Nifty Pharma, Nifty PSU Bank, and Nifty Private Bank, all dipped over 1 per cent.
In the broader market, the S&P BSE MidCap index settled at 14,531, down 190 points, or 1.29 per cent, while the S&P BSE Smallcap index skidded 193 points, or 1.35 per cent, to 14,173.
BUZZING STOCKSThe benchmark S&P BSE Sensex ended the day 491 points, or 1.25 per cent, lower at 38,961, with Tata Steel, Tata Motors, ONGC, Vedanta, and Sun Pharma topping the list of losers. Only YES Bank, Coal India, and Infosys out of the 30 BSE constituents ended the session in the green.
The broader Nifty50 index dipped 151 points, or 1.28 per cent, to 11,672. About 685 shares on the NSE advanced, 1,847 declined, and 126 shares remained unchanged.
All the Nifty sectoral indices closed Monday's session with losses, with Nifty Metal, down 2.87 per cent, and Nifty Auto, down 1.69 per cent, taking the deepest cuts. Moreover, Nifty Bank, Nifty Fin Service, Nifty Pharma, Nifty PSU Bank, and Nifty Private Bank, all dipped over 1 per cent.
In the broader market, the S&P BSE MidCap index settled at 14,531, down 190 points, or 1.29 per cent, while the S&P BSE Smallcap index skidded 193 points, or 1.35 per cent, to 14,173.
Shares of Reliance Infrastructure (RInfra) hit an over 28-year low of Rs 52.70, down 10 per cent on the BSE on Monday in the early morning trade after the auditors raised questions about the company’s ability to continue in business. The stock ended the day 4.72 per cent lower at Rs 56.50. READ MORE
Shriram Transport Finance Company shares dipped 6.54 per cent to Rs 1,014 on the National Stock Exchange (NSE) on Monday after Piramal Enterprises sold its entire 9.96 per cent stake in the company through open market. READ MORE
Shares of New Delhi Television (NDTV) skid 8 per cent to Rs 32.10 during the early morning trade on the BSE on Monday, after markets regulator the Securities and Exchange Board of India (Sebi) banned the group chairman Prannoy Roy and director Radhika Roy from assessing the capital market for two years. However, the stock settled for the day at Rs 35, 0.57 per cent higher. READ MORE
3:59 PM
» More on 52 Week Low
Stocks that hit 52-week low on S&P BSE Sensex
| COMPANY | PRICE(rs) | 52 WK LOW | CHG(rs) | CHG(%) |
|---|---|---|---|---|
| AMARA RAJA BATT. | 600.50 | 598.50 | -13.15 | -2.14 |
| BAYER CROP SCI. | 3413.35 | 3407.25 | -101.40 | -2.88 |
| BHARAT FORGE | 443.80 | 439.50 | -10.90 | -2.40 |
| BIOCON | 247.00 | 245.00 | -1.90 | -0.76 |
| BOMBAY BURMAH | 1065.00 | 1055.00 | -41.65 | -3.76 |
3:58 PM
» More on Top Losers
Top losers on BSE500
| COMPANY | PRICE(rs) | CHG(rs) | CHG(%) | VOLUME |
|---|---|---|---|---|
| JET AIRWAYS | 66.55 | -15.50 | -18.89 | 2601342 |
| PC JEWELLER | 48.20 | -9.20 | -16.03 | 6647224 |
| RELIANCE CAPITAL | 70.80 | -5.75 | -7.51 | 3475617 |
| JP ASSOCIATES | 3.43 | -0.26 | -7.05 | 1988202 |
| TEJAS NETWORKS | 156.50 | -11.05 | -6.60 | 13721 |
3:57 PM
Heatmap: S&P BSE Sensex
3:57 PM
Nifty sectoral indices at close
3:56 PM
Market at close
The S&P BSE Sensex ended at 38,960.79, down 491.28 points while the broader Nifty50 index settled at 11,672.15, down 151.15 points.
3:10 PM
Nifty Metal index dips 3%; Jindal Steel, Tata Steel, SAIL down over 5%
Shares of metal companies, mainly steel, were under pressure, with Nifty Metal index slipping nearly 3 per cent on the National Stock Exchange (NSE) amid trade tension and weak data from China. Jindal Steel and Power (JSPL), Steel Authority of India (SAIL), Tata Steel, JSW Steel and Vedanta were down in the range of 3 to 6 per cent on the NSE. READ MORE
2:56 PM
Reliance Industries extends losses, slips 2.2%
2:52 PM
Sectoral trends on NSE at this hour
- All sectoral indices are trading over 1% lower, except Nifty metals which is down over 2%
2:51 PM
NEWS ALERT | Monsoon seen progressing in remaining parts of Karnataka, Tamil Nadu: Met Dept
2:51 PM
Top gainers and losers on S&P BSE Sensex at this hour
2:50 PM
NEWS ALERT | Monsoon seen progressing in some parts of Konkan, Goa, Andhra: Met Dept
2:50 PM
Market check
2:49 PM
Market check
2:48 PM
Pick of the Week | Anand Rathi Financial Services
Larsen & Tourbro
Rating: Buy
Rating: Buy
Target P rice: Rs 1,820
Share Price: Rs 1,514
L&T is the undisputed market leader in India’s capital goods and construction space. The likely recovery of India’s capex cycle, especially infra and hydrocarbon, would benefit L&T substantially with double digit revenue growth and faster order book expansion.
Infra capex investments in roads, railways, urban infrastructure and airports is likely to see strong push, post elections. L&T has strong revenue visibility on back of healthy infra order book. We believe that roads, railway electrification and metro projects will continue to show strong execution. The erstwhile Central Government strong yl focused on infra developments, esp y ecially roads, bridges, urban infrastructure and of late railways. Re-election of the same government in 2019 general elections suggests that the same thrust would continue and little time would be lost in re-prioritization and realignment of the operating framework. Consequently, tendering and ordering are likely to revive from H2FY20 with renewed thrust on railway electrification and road construction.
2:35 PM
NEWS ALERT | Bahrain based Batelco extends partnership with Tata Communication
- Partnership to offer flexible and reliable data connectivity with expanded global reach
(Source: BSE filing)
(Source: BSE filing)
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First Published: Jun 17 2019 | 7:12 AM IST
