Sensex ends 407 pts lower, Nifty below 11,750; YES Bank, Maruti top losers

Benchmark indices extend their losses in Friday’s last-hour trading session, dragged down by heavyweights like HDFC twins and Reliance Industries.

The S&P BSE Sensex dipped 372 points, or 0.94 per cent, to 39,229, with YES Bank, Maruti Suzuki, Sun Pharma, HDFC, and Hero MotoCorp leading the list of losers. The broader Nifty50 index slipped 97 points, or 0.82 per cent, to 11,734.

All the NSE sectoral indices except Nifty PSU Bank indices were trading in the red. Nifty Pharma and Nifty Auto indexes, down 1.5 per cent each, took the deepest cuts.

In the broader market, the S&P BSE MidCap index was trading 92 points, or 0.63 per cent, lower at Rs 14,588, while the S&P BSE SmallCap gave up its early gains to trade 13 points, or 0.09 per cent, lower at 14,052.

Aurobindo Pharma shares slipped 8 per cent to Rs 579 on the BSE in early morning trade on Friday after the company received a warning letter from US health regulator for its Unit XI, API (Active Pharmaceutical Ingredients) manufacturing facility in Srikakulam, Andhra Pradesh.

Sobha stocks dipped 11 per cent to Rs 500 on BSE on Friday after more than four per cent total equity of the real estate developer changed hands via block deals in early morning trade.

Tanla Solutions shares continued their upward movement, hitting an over 9-year high of Rs 67.20 per share, up 5 per cent on the BSE in an otherwise weak market. The stock was trading at its highest level since October 26, 2009.

Emami shares slipped 8 per cent to Rs 283 in intra-day trade on the BSE, trading close to its five-year low, on concerns of growth slowdown. The stock was trading at its lowest level since August 13, 2014 and has tanked 53 per cent from its 52-week high level of Rs 599, touched on August 1, 2018. In the past four weeks, Emami has underperformed the market by falling 21 per cent on weak March quarter (Q4FY19) earnings as compared to the unchanged S&P BSE Sensex during the same period.

Shares of Jet Airways (India) turned volatile for the second day in a row on Friday, as the company’s market price more than doubled from its intra-day low on the National Stock Exchange (NSE) on the back of heavy volumes. The share soared 30 per cent to Rs 81.70 per share, zooming 116 per cent from its intra-day low of Rs 37.80, on the NSE. It opened 10 per cent lower at Rs 56.60 and slipped by another 40 per cent in the intra-day deals.

Indiabulls Housing Finance Friday said the Competition Commission of India (CCI) has approved the proposed merger of the company with Lakshmi Vilas Bank.

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