Sensex ends 110 pts lower ahead of Q2 GDP data; BSE Smallcap index up 2.4%
The benchmark indices ended Friday’s volatile session in the negative territory ahead of the release of gross domestic product (GDP) numbers for the second quarter of the current fiscal (July-September period) due later in the day.
The S&P BSE Sensex slipped 110 points, or 0.25 per cent to 44,150 levels and the Nifty50 index ended at 12,969, down 18 points, or 0.14 per cent. Power Grid, HCL Tech, and ONGC (all down around 2 per cent) were the top Sensex laggards.
Shares of gas transmission companies rallied up to 19 per cent on the BSE during the day after oil regulator Petroleum and Natural Gas Regulatory Board (PNGRB) notified regulations for unified gas transmission tariff structure.
Shares of automobiles companies were in focus at the bourses on Friday ahead of the November month sales numbers, which release next week. The stock market will remain closed on account of Gurunanak Jayanti on Monday, November 30. At 11:00 am, the S&P BSE Auto index, the top gainer among sectoral indices, was up nearly 2 per cent, as compared to 0.19 per cent decline in the S&P BSE Sensex. The auto index hit an intra-day high of 20,218, is trading close to its 52-week high level of 20,282 hit on Wednesday, November 25.
Shares of Laurus Labs rose 4 per cent at Rs 305 on the BSE on Friday, gaining 7 per cent in the past two trading days after the company said it has signed a definitive agreement to acquire a majority stake in Richcore Lifesciences Pvt Ltd (Richcore). The stock of the pharmaceutical company was trading at its highest level since November 2, 2020.
Tube Investments to raise funds from Azim Premji Trust, SBI MF; stock up 5%. “The company has executed the share subscription agreement on Thursday, November 26, 2020 with Azim Premji Trust for issue and allotment of 2.73 million equity shares for an aggregate consideration up to approximately Rs 200 crore and with SBI Mutual Fund for issue and allotment of 2.05 million equity shares of the company for an aggregate up to approximately Rs 150 crore,” the company said in a regulatory filing.
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