Sensex slips 135 points, Nifty ends at 11,753; Jet crashes 32%

Selling in banks, realty and metal counters dragged the domestic equity market lower on Thursday. The headline index, S&P BSE Sensex lost 135 points or 0.34 per cent to settle at 39,140, with YES Bank being the biggest loser and Reliance Industries (RIL) the top gainer.

Out of 30 components, 22 scrips ended in the red and rest eight in the green.

Market breadth remained in favour of declines as out of 2,727 securities traded on BSE, 1,671 declined and 888 advanced while 168 scrips remained unchanged.

The broader Nifty50 index of the National Stock Exchange (NSE) lost 34 points or 0.29 per cent to end at 11,753.

On a weekly basis, both the indices gained around 1 per cent.

In the broader market, the S&P BSE Midcap index slipped 138 points or nearly 1 0.89 per cent to close at 15,382.57 while the S&P BSE Smallcap index ended at 15,021, down around 150 points or 1 per cent.

All the sectoral indices ended in the negative territory with realty stocks taking the hardest knock, followed by media and PSU banks.

Reliance Industries (RIL) ended nearly 3 per cent higher at Rs 1,383 apiece on the BSE ahead of its Q4FY19 results.

Jet Airways crashed 32 per cent to Rs 169 apiece on the BSE after it halted all operations.

Shares of Deepak Fertilisers & Petrochemicals Corporation rose by 4 per cent to Rs 162.95 in intra-day trade on the BSE on Thursday after the company announced the commercial production of nitric acid complex at Dahej, Gujarat. It closed at Rs 159, up over 1 per cent.

Market remained closed on Friday on account of Good Friday.

Shares of 5paisa Capital rallied 20 per cent to Rs 281 on the BSE in intra-day trade on Thursday after the company reported net loss of Rs 33 lakh, a decline of 95 per cent (year on year) from Rs 6.93 crore, for the quarter ended March 2019. Total income during the quarter rose nearly three-fold to Rs 21.89 crore from Rs 7.87 crore against the same quarter of previous fiscal.

Jet Airways shares sank 34 percent on Thursday in a sign investors were sceptical about a revival, even as lenders to the carrier said they are “reasonably hopeful” the bidding process for the grounded Indian airline will end successfully.

With Jet Airways suspending operations, lenders are looking at an immediate provisioning of about Rs 1,000 crore as the account is likely to be categorised as a non-performing asset (NPA). This comes despite the State Bank of India-led consortium of lenders continuing efforts to find a new buyer for the private airline.

Shares of Anil Dhirubhai Ambani Group (ADAG) companies are under pressure, slipping by up to 14 per cent on Thursday, and extending their Tuesday’s 6 per cent fall on the BSE on back of heavy volumes.Reliance Power (down 14 per cent at Rs 8.16) and Reliance Communications (down 5 per cent at Rs 2.20) hit their respective all-time lows today.

Shares of Deepak Fertilisers & Petrochemicals Corporation rose by 4 per cent to Rs 162.95 in intra-day trade on the BSE on Thursday after the company announced the commercial production of nitric acid complex at Dahej, Gujarat. The new facility, with project cost of approximately Rs 550 crore, has production capacity of around 92 KTPA for concentrated nitric acid (CNA) and around 149 KTPA for diluted nitric acid (DNA), the company said.

Wipro shares slumped 3 per cent from its early morning high to trade at Rs 282 after the firm gave a tepid outlook for the first quarter of FY20, citing delays in starting new projects. The stock had opened 3 per cent higher at Rs 289 on the BSE on Thursday.

Here are some picks from the week gone by.