The benchmark indices ended slightly lower on Friday led by a fall in information technology (IT) and metal stocks.
The S&P BSE Sensex ended at 35,159, down 79 points, while the broader Nifty50 index settled at 10,585, down 13 points.
Among the sectoral indices, the Nifty IT index fell 0.8 per cent weighed by Infosys and Tata Consultancy Services (TCS). The Nifty Metal index slipped 0.9 per cent due to a decline in NMDC. On the other hand, the Nifty Pharma index settled 1.4 per cent higher led by a rise in Sun Pharma.
In stock-specific action, Bharti Airtel fell 2.9 per cent to Rs 297 on the BSE after Moody’s Investors Service placed it’s rating on review for downgrade, following low levels of profitability and expectation of weak cash flow. The stock had fallen as much as 5.21 per cent to Rs 290 on the BSE in intra-day trade.
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Benchmark indices Sensex and Nifty ended over 1 per cent lower on Friday, dragged by fall in blue-chip companies such as Reliance Industries (RIL), Infosys and YES Bank amid muted global cues. The S&P BSE Sensex ended 464 points or 1.33 per cent down at 34,316 while NSE’s Nifty50 index settled at 10,303.55, down 150 points or 1.43 per cent.
Among individual stocks, RIL dipped as much 7% to Rs 1,073 on the BSE in the intra-day trade after a mixed bag results for the quarter ended September 2018 (Q2FY19) with its retail and digital services (telecom; Jio) businesses continuing to post strong growth, while its core refining business performance was a bit disappointing amid high expectations. The stock ended at Rs 1,102 apiece on BSE, down 4 per cent.
YES Bank also dropped as much as 8 per cent in the intra-day trade on Friday after the Reserve Bank of India (RBI) on Wednesday once again rejected the lender’s request for extending the term of MD & CEO Rana Kapoor, and reaffirmed the February deadline for finding his successor. Shares of the lender ended at Rs 218, down 6 per cent.
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The S&P BSE Sensex partially recovered after crashing over 1,400 points in from the day’s high to settle 280 points lower at 36,842 on Friday.
The Nifty 50 index hit a low of 10,866 levels, but settled 91 points lower at 11,143.
The decline came on the back of a sharp fall in NBFC stocks. DHFL skidded over 50% in intraday trade on fears of a liquidity crisis. The management, however, assuaged investor concerns and said the company has not defaulted on any repayments. The stock settled nearly 45 per cent lower at Rs 337.80 on the BSE. According to the analysts, the IL&FS crisis was the main reason behind the selloff. That apart, a rise in bond yields also weighed on the sentiment.
In the broader markets, the S&P BSE SmallCap index fell 3 per cent to 15,763 levels, while the S&P BSE MidCap index lost 1.7 per cent to end at 15,596 levels.
NSE’s Volatility Index (India VIX), or the fear gauge, rose by over 11%
YES Bank fell 34 per cent in intra-day trade after the Reserve Bank of India (RBI) trimmed Rana Kapoor’s tenure as its MD & CEO. The private sector lender said on Wednesday that the Reserve Bank of India (RBI) had allowed Kapoor to continue only till January 31. According to sources, the RBI has cited corporate governance and regulatory issues for not extending Kapoor’s term. Further, the lender has been directed to search for a successor.
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Benchmark indices rebounded to ended marginally higher after a day of subdued trading as caution ahead of the launch of a goods and services tax (GST) kept investors on edge. The indices ended the month of June in negative, first monthly loss this year, even after they rose a bit in the late afternoon deals.
The revised tax structure will kick in from midnight, marking India’s biggest tax reform since independence, unifying its $2 trillion economy and 1.3 billion people into a common market.
The S&P BSE Sensex settled the day at 30,921, up 64 points, while the broader Nifty50 was ruling at 9,521, up 17 points.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap bucked the trend to gain 0.6% each.
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Benchmark indices continued the cheer as investors traded in the final trading session of 2016. Markets rose over 1% in today’s trade to post a yearly gain as they recover from the recent losses tracking various local and global cues.
Nifty gained around 300 points in the last 4 sessions to end the year over 8,200 in 2016 led by gains in Aurobindo Pharma, GAIL, Sun Pharma and ITC . On the other hand, Sensex rose as much as 308 points today to settle the year 544 points higher.
The S&P BSE Sensex ended at 26,626, up 260 points while Nifty50 gained 82 points at closing, to quote at 8,186. Among broader markets, BSE Midcap gained 1.15% while BSE Smallcap was up 0.97%. About 1691 shares have advanced, 570 shares declined, and 145 shares are unchanged.
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The flower of optimism wilted on Dalal Street on Friday as Wipro hit its lowest level in more than two years.
The benchmark S&P BSE Sensex shed 54 points to end the day at 27,782. The 50-share gauge Nifty50 closed at 8,572, lower by 19 points.
Shares of Wipro tumbled to their two-year low during the session. The stock plunged another 3 percent after a 3 percent decline seen on Thursday. The company had posted weaker-than-expected numbers for June quarter and investors see it wilting under the pressure that the IT giants are facing this year.
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The market ended with heavy losses. The Nifty ended below 7850, down 33.70 points or 0.4 percent. The Sensex is down 97.82 points or 0.4 percent at 25301.90. About 871 shares advanced, 1679 shares declined, and 197 shares are unchanged.
ITC gained 1 percent after posting better-than-expected Q4 results. Adani Ports, ONGC, NTPC and Bajaj Autowere top gainers in the Sensex. Losers were Lupin (down 9 percent), ICICI Bank, Reliance, M&M and Tata Motors.
After the political results of 5 states yesterday, there was a glimmer of hope of seeing the GST bill through but we can only hope things fall in place soon.
Here are some picks from the week gone by:
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