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Indian equity benchmarks extended declines for the third consecutive trading session.
The S&P BSE Sensex fell 0.72 percent to end at 41,163.76 and the NSE Nifty 50 fell 0.72 percent to close at 12,126.55. The broader markets represented by the NSE Nifty 500 Index fell 0.52 percent. Both the 31-stock index and the 50-share gauge logged their steepest fall in 20 days.
The Nifty index’s futures and options series snapped its three months gaining streak in December. Nifty fell 0.17 percent and Nifty Bank fell 0.39 percent.
The market breadth, however, was tilted in favour of buyers. About 948 stocks advanced and 847 shares declined on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 1.4 percent fall. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 0.84 percent.
Dishman Carbogen
Mahindra CIE Automotive
SAIL
Navin Fluorine
Westlife Development
Infibeam Avenues
Gujarat Narmada Valley Fertilisers & Chemicals
Bharat Dynamics
U.S. equity-index futures edged higher with Asian stocks on Thursday as investors looked ahead to the promised January milestone for trade relations between the world’s biggest economies and a hoped-for revival of global growth in 2020.
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Source: Bloomberg
Shares of Minda Corp hated a two-day losing streak and rose as much as 10.6 percent, the most since Oct. 30, to Rs 99.90.
Trading volume was almost six times its 20day average, Bloomberg data showed. Of the shares traded, 49 percent were at the ask price and 45 percent were at the bid.
Shares of Jet Airways hit an upper circuit of 5 percent for the seventh consecutive trading session. The stock surged 40 percent during the period.
“Lenders to Jet Airways (India) Ltd. have decided to seek fresh initial bids for the bankrupt airline, according to an exchange filing on Dec. 23. The grounded airline is undergoing insolvency proceedings at the National Company Law Tribunal and its Committee of Creditors are seeking a buyer to recover dues,” according to PTI report.
Shares of Mahindra CIE Automotive rose as much as 11.1 percent, the most since Sept. 20, to Rs 179.50.
“Autoparts maker are rallying on anticipation of a potential scrappage policy being introduced, which was tabled in Parliament last month.” LKP Securities’ analyst Ashwin Patil told Bloomberg.
Indian equity benchmarks traded at day’s low after fluctuating between gains and losses in the opening trade.
The S&P BSE Sensex fell 0.23 percent to 41,362.66 and the NSE Nifty 50 fell 0.23 percent to 12,185.40. The broader markets represented by the NSE Nifty 500 Index fell 0.12 percent.
Nifty’s 12,200 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire today, rose 5.32 percent to Rs 15.85. Over 24.13 lakh shares were added to the open interest which stood at over 52.47 lakh shares.
Shares of Dishman Carbogen halted a six-day losing streak. The stock hit an upper circuit of 10 percent at Rs 79.30.
The stock had declined 43 percent in the last six trading sessions. Trading volume was almost 60 times its 20-day average, according to Bloomberg data.
Shares of Infibeam Avenues halted their two-day losing streak and rose as much as 10.1 percent, the most since Nov. 21, to Rs 51.35.
Trading volume was more than five times its 20-day average, Bloomberg data showed. The stock traded at 29 times its estimated earnings per share for the coming year.
Shares of IIFL Wealth Management fell as much as 15 percent, the most on record, to Rs 924. The stock has declined for the seventh consecutive trading session.
Of the shares traded, 33 percent were at the ask price and 64 percent were at the bid, according to Bloomberg data. The stock declined 14 percent since its listing on Sept. 19, 2019.
Indian equity benchmarks fluctuated between gains and losses in the opening trade.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 41,442 and 12,207.80 respectively. The broader markets represented by the NSE Nifty 500 Index, too, traded flat.
The market breadth was tilted in favour of buyers. About 857 stocks advanced and 578 shares declined on National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Pharma Index’s 0.1 percent fall. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 0.14 percent.
The Indian rupee opened unchanged at 71.27 against the U.S. dollar.
Indian equity benchmarks are set to open higher.
The S&P BSE Sensex rose 0.45 percent to 41,646 during the pre-market trade and the NSE Nifty 50 rose 0.12 percent to 12,231.35
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