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The S&P BSE Sensex lost 378 points or 1.05 per cent to settle at 35,514 with HCL Tech (up 0.50 per cent) being the top gainer and ONGC (down 3.59 per cent) the worst laggard.

Stock market

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		Weak global cues, nervousness ahead of the start of third quarter corporate earnings and selling in metals, auto, IT and financial counters triggered another 1 per cent decline in the domestic stocks on Thursday. Equities on Wednesday, too, shed around 1 per cent.</div>
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		The S&P BSE Sensex lost 378 points or 1.05&nbsp;per cent to settle at&nbsp;35,514 with HCL Tech (up 0.50 per cent) being the top gainer and ONGC (down 3.59 per cent) the worst laggard. HDFC, Reliance Industries (RIL), Larsen & Toubro and HDFC Bank contributed the most to the index&#39;s fall while Bajaj Auto, Asian Paints and Hindustan Unilever advanced the most.&nbsp;</div>
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		Out of&nbsp;2,726 companies traded on BSE, 957 advanced and 1,619 declined while 150 stocks remained unchanged.&nbsp;</div>
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		On NSE, the broader Nifty50 index slipped below 10,700 level to close at 10,672, down 120 points or 1 per cent. Out of 50 components, 42 ended in the red and just eight in the green.&nbsp;</div>
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		As many as 41 securities hit 52-week lows on NSE. The list included names such as Bharat Forge, Hinduja Ventures,&nbsp; and Lux Industries. On the contrary, four stocks hit their 52-week high.&nbsp;<br />
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		Sectorally, metal stocks cracked the most followed by media, auto and IT stocks. The Nifty Metal index slipped 68 points or 2.25 per cent to settle at 2,960.40, with all the 15 constituents declining. JSPL, Hindalco and Tata Steel fell between 3-7 per cent.<br />
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		In the broader market,&nbsp;The S&P BSE MidCap index lost 156 points or 1 per cent to settle at 15,076 while the S&P BSE SmallCap index closed at 14,573, down 86 points or 0.58 per cent.<br />
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		<strong>BUZZING STOCKS</strong></div>
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	Shares of Vijaya Bank and Dena Bank tanked up to 20% on the BSE on Thursday following an unfavorable share-swap ratio on their merger with Bank of Baroda.</div>
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		Dena Bank plunged 20% to Rs 14.40 on the BSE. The stock was trading close to its 52-week low of Rs 13.75 touched on July 16, 2018, in intra-day trade. <a href="https://www.business-standard.com/article/markets/bank-merger-swap-ratio-fair-for-dena-not-for-vijaya-bank-say-analysts-119010300486_1.html" target="_blank"><strong>Click here to find out what experts have to say on swap ratio</strong></a><br />
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			Shares of Jet Airways (India) slipped over 6% to Rs 247 on Thursday, falling over 11% in the past two trading days on BSE, after the rating agency ICRA on Wednesday downgraded the airline&rsquo;s Rs 10,963 crore loan and debenture ratings. &ldquo;ICRA has revised the long-term rating (assigned to long-term loans and non-convertible debentures) to D from C. The short-term rating has been revised to D from A4,&rdquo; Jet Airways said in a statement.&nbsp;</div>
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	The rupee was trading on a weak note having slipped to&nbsp;70.52 against the dollar in intra-day trade. On Wednesday, the domestic unit crashed 75 paise, its first loss in last four sessions, to close at 70.18 amid strengthening of the greenback and heavy selling in domestic equities.<br />
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	<strong>Global Markets</strong><br />
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US stock futures fell and Asian shares wobbled on Thursday after a rare revenue warning from Apple Inc added to worries about slowing global growth and weaker earnings.<br />
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	MSCI&#39;s broadest gauge of Asia-Pacific shares outside Japan fell 0.4 per cent after an early attempt at a bounce. Japanese markets were closed for holidays but Nikkei futures dropped 1.9 per cent. Shares in China and Hong Kong see-sawed between gains and losses as investors waited for Beijing to roll out fresh support measures for the cooling Chinese economy.</div>
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	<em>(with </em><em>Reuters</em><em> input)</em></div>

MARKET WRAP: Sensex sheds 378 pts, Nifty ends below 10,700; JSPL tanks 7%

Business Standard

MARKET WRAP: Sensex sheds 378 pts, Nifty ends below 10,700; JSPL tanks 7% | News on Markets - Business Standard

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	<strong>From Infosys to Tata Steel, hot stocks to watch on Thursday</strong></div>
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		<strong>Infosys</strong></div>
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		<strong>Current price: Rs 669</strong></div>
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		<strong>Target price: Rs 680</strong></div>
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		Keep a stop at 664 and go long. Add to the position between 676-678. Book profits at 680.</div>
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		<strong>Tata Steel&nbsp;</strong></div>
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		<strong>Current price: Rs 494</strong></div>
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		<strong>Target price: Rs 486</strong></div>
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		Keep a stop at 498 and go short. Add to the position between 488-490. Book profits at 486. <a href="https://mybs.in/2X2raf3" target="_blank"><strong>READ MORE</strong></a></div>
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<strong>Rupee</strong><br />
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The rupee on Wednesday crashed by 75 paise, its first loss in last four sessions, to close at 70.18 against the US dollar amid strengthening of the greenback and heavy selling in domestic equities.

<strong>Oil prices fall amid currency and share market turmoil, crude supply surge</strong><br />
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Oil prices fell on Thursday amid volatile currency and stock markets, and as analysts warned of an economic slowdown for 2019 just as crude supply is rising globally.<br />
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	US West Texas Intermediate (WTI) crude oil futures were at $45.93 per barrel, down 61 cents, or 1.3 percent, from their last settlement. International Brent crude futures were down 36 cents, or 0.7 per cent, at $54.55 per barrel.</div>

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	<strong>SGX Nifty</strong></div>
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	The Nifty futures on Singapore Exchange (SGX) were trading at 10,868 levels, up 36 points or 0.3 per cent in early trade.</div>

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	<strong>Asian shares skid as Apple warning stokes growth fears, &#39;flash crash&#39; sweeps currencies</strong></div>
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	Shares in Asia fell on Thursday and US stock futures dropped sharply after Apple Inc cut its revenue forecast due in part to weaker sales in China, adding to concerns about the slowing global economy.</div>
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	MSCI&rsquo;s broadest gauge of Asia-Pacific shares outside Japan slipped 0.2 per cent. Japan&#39;s stock markets are closed for a holiday on Thursday.</div>

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	<strong>Wall Street ekes out gain, Apple cuts revenue forecast after the bell</strong></div>
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	Wall Street edged higher on Wednesday after stumbling out of the starting gate on the first trading day of 2019, while fears of a global economic slowdown were exacerbated after Apple cut its holiday-quarter revenue forecast.</div>
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	The Dow Jones Industrial Average rose 18.78 points, or 0.08 per cent, to 23,346.24, the S&amp;P 500 gained 3.18 points, or 0.13 per cent, to 2,510.03 and the Nasdaq Composite added 30.66 points, or 0.46 per cent, to 6,665.94.</div>

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