Sensex falls 700 points, Nifty spirals below 2%
Sensex falls 700 points, Nifty spirals below 2%
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Indian equity markets ended the week in red.
BSE Sensex fell 698.86 points or 2.54% to end at 26, 818.82 points while the bigger scrip Nifty-50 ended lower 2.68% at 8,296.30 points on Friday.
The losers on Sensex were Delta Corp (12.25%), Mannapuram Finance (11.99%), Shriram City Union Finance (9.34%), Srei Infrastructure Finance (9.42%) and Century Textiles Industry (9.56%).
Among the gainers were IndiaBulls Real Estate (5.97%), GET&D (4.55%), Sun Pharma (3.3%), Siemens (3.22%) and Just Dial (1.54%).
Oil prices dipped on Friday as focus was shifted on a persistent fuel supply overhang which is not expected to moderate till the time OPEC and many other producers decide to make a significant revision in their output. So far, International Brent crude oil futures (LCOc1) were trading at $45.77 per barrel at 0743 GMT (2:43 a.m. ET), down 7 cents from their last close.
At 1319 hours, Sensex was trading at 27,074.42 down by 443.26 points or 1.61%, while Nifty was at 8377.35 below 148.40 points ir 1.74%.
After the Q2 announcement shares of State Bank of India was trading at Rs 276.90 on BSE, down by Rs 5 or 1.67%. The bank's net profit dropped to Rs 2538.3 crore, loss of 34.5%, as compared to Rs 3879 crore during the same period last year.
Nifty trades below 8400-mark.
Tata Global Beverages' shares were below Rs 6.35 or 5.27% on BSE, trading at Rs 118.75 after when the company said it is considering to delist stakes from Calcutta Exchange.
Sun Pharma sole gainer on BSE after reporting robust Q2 earnings.
Sumeet Industries to be among top 10 fast stocks
Mixed reactions in International markets
Following the denomination of bank notes, shares of Axis Bank were trading below Rs 6 or 1.25% on BSE trading at Rs 500.20. Yesterday the bank installed cash in ATMs across but it is running dry because of too much outgoing of cash.
Shares of Ramco System sinked by Rs 8 or 1.85% on BSE trading at Rs 419, after the company said that it has signed order deal with China-based Belinco.
Auto stocks were top losers on BSE. The S&P BSE Auto index was down by 489.97 points or 2.27% trading at 21049.39. No stocks were trading positive. Among the top losers were - Motherson Sumi at Rs 314.95 (3.49%), followed by Eicher Motors at Rs 22,302.05 (3.33%), Hero MotorCorp at Rs 3040 (3.32%), Tata Motors at Rs 516.85. (3.14%) and Bajaj Auto at Rs 2656.05 (2.90%).
Sun Pharma was the only happy stock during Friday trading session on BSE following Donald Trump win. The shares of Sun Pharma soared over Rs 34.35 or 5.15% on BSE, trading at Rs 701.30. It opened at Rs 691 higher from its previous closing of Rs 666.95. Nearly 1.48 lakh shares have been exchanged among investors.
Bank Nifty was trading at 20,166.50 down by 34 points or 0.17% on Friday's trading session. On the index public sector banks' stock overtook the private banks' shares. Among the gainers were - Federal bank at Rs 82.20 (2.37%), followed by Bank of Baroda at Rs 168.15 (1.91%), Punjab National Bank at Rs 162.30 (1.88%), Bank of India at Rs 126.45 (1.85%), Canara Bank at Rs 326.20 (1.64%), State Bank of India at Rs 285.35 (1.44%) and IndusInd Bank at Rs 1217 (0.23%). While among the losers were - Yes Bank taking the top spot of losers trading at Rs 1273.30 (1.31%), ICICI Bank at Rs 289.65 (1.01%), HDFC Bank at Rs 1271.95 (0.52%), Axis Bank at Rs 505.80 (0.23%) and Kotak Mahindra Bank at Rs 818.90 (0.04%).
The Indian rupee was trading at 67.075 against US dollars. The domestic currency was below 0.145 points or 0.22% from its previous closing of 67.220.
Asian market was a mixed bag with Hong Kong shares declining. The shares of China's Shanghai Composite index was trading above 19.22 points or 0.61% at 3190.50, while that of Japan's Nikkei 225 at 17431.52 up by 83.76 points or 0.48%. However Hang Seng index saw nearly 239.20 points or 1.05% decline trading at 22,599.91 in today's trading session.
Indian market opened on a negative note as there some selling pressure in the stocks of FMCG, auto and banking. Sensex was trading at 27,256.78 down by 260.90 points or 0.95%, while Nifty was at 8442.30 below 83.45 points or 0.98%. The 30-stock index recorded 5 advances and 25 declines; whereas the 51-stock index saw 7 advances and 44 declines.
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