Market Wrap, Feb 25: Sensex slips 82 pts, Nifty gives up 11,800
On the sectoral front, Nifty Pharma index dropped over 2 per cent to end as the biggest sectoral index loser. The index closed at 7,937 levels
BS Web Team New Delhi
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Stocks witnessed a lacklustre trade on Tuesday amid lack of any positive triggers and fears of spreading coronavirus. According to a Reuters poll, India's GDP (gross domestic product) grew 4.7 per cent in the October-December period of the financial year 2019-20 (FY20).
The S&P BSE Sensex ended at 40,281, down 82 points or 0.2 per cent. Sun Pharma (down over 2 per cent) emerged as the biggest loser on the index while TCS (up 2 per cent) gained the most.
Market breadth remained in favour of sellers as out of 2,616 companies traded on the BSE, 964 advanced and 1,469 declined while 183 remained unchanged. As many as 58 securities hit their 52-week high on the BSE while 183 securities fell to 52-week low.
On the NSE, the 50-share Nifty index slipped below the key level of 11,800 to end at 11,798, down 31.5 points or 0.27 per cent.
In the broader market, the S&P BSE MidCap index lost 68 points or 0.4 per cent to settle at 15,376 while the S&P BSE SmallCap index ended at 14,448, down 65 points or 0.45 per cent.
On the sectoral front, Nifty Pharma index dropped over 2 per cent to end as the biggest sectoral index loser. The index closed at 7,937 levels. On the other hand, realty and IT stocks made decent gains.
GLOBAL MARKETS
Global stock markets stabilised on Tuesday after a wave of early selling petered out and Wall Street futures managed a solid bounce after the previous day’s sharp selloff on fears about the spreading coronavirus. MSCI’s All Country World index, which tracks shares across 47 countries, was down 0.16 per cent, paring some earlier losses when Asian markets were trading. The index suffered its biggest daily drop in two years on Monday.
In commodities, oil steadied after shedding nearly 4 per cent on Monday. US crude was up 0.2 per cent at $51.55, while Brent crude firmed 0.4 per cent to $56.51.
Individual Stocks
Led by strong rally in the past month, Indian Railway Catering and Tourism Corporation (IRCTC) has entered the list of top 100 companies with the highest market capitalisation (m-cap). In the past month, the stock has zoomed 99 per cent from level of Rs 1,003, as against a 3 per cent decline in the S&P BSE Sensex.
Led by strong rally in the past month, Indian Railway Catering and Tourism Corporation (IRCTC) has entered the list of top 100 companies with the highest market capitalisation (m-cap). In the past month, the stock has zoomed 99 per cent from level of Rs 1,003, as against a 3 per cent decline in the S&P BSE Sensex.
Shares of TVS Motor Company slipped 6 per cent to Rs 410 on the BSE on Tuesday after the two and three-wheelers manufacturer said the outbreak of pandemic Coronavirus (COVID-19) in China will lead to 10 per cent drop in its planned production in February. The stock was trading at its lowest level since October 17, 2019.
Shares of Larsen & Toubro (L&T) were trading lower for the fourth straight day, slipping 1.3 per cent on Tuesday to hit 52-week low of Rs 1,244 on the BSE. The construction & engineering company's stock was trading at its lowest level since February 18, 2019.
Read by: Sukanya Roy
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Topics :MARKET WRAPPharma stocks
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First Published: Feb 25 2020 | 5:05 PM IST
