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Indian equity benchmarks extended declines to trade at day’s low.
The S&P BSE Sensex fell 0.5 percent to 41,407 and the NSE Nifty 50 fell 0.59 percent to 12,210. The broader markets represented by the NSE Nifty 500 Index fell 0.51 percent.
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The risk-on sentiment that ushered in the new year took a hit on Friday as tension between the U.S. and Iran escalated, sinking stocks and American equity futures and buoying haven assets including gold, the yen and Treasuries.
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Source: Bloomberg
Indian equity benchmarks declined, led by the fall in HDFC twins and Axis Bank Ltd.
The S&P BSE Sensex fell 0.4 percent to 41,453.81 and the NSE Nifty 50 fell 0.46 percent to 12,225. The broader markets represented by the NSE Nifty 500 index fell 0.34 percent.
Nifty’s 12,200 put option contract was among the most active Nifty option contracts on National Stock Exchange.
The premium on the contract, which is set to expire on Jan. 9, surged 121.41 percent to Rs 51.70. Over 5.58 lakh shares were added to the open interest which stood at over 24.84 lakh shares.
Shares of Oil & Natural Gas Corporation rose as much as 4.2 percent to Rs 133.40.
The oil explorer won seven blocks offered under the fourth auction round, according to a Bloomberg report.
Besides, International brokerage firm Goldman Sachs upgraded ONGC’s stock rating to ‘Buy’ from ‘Neutral’, but cut its price target to Rs 175 from Rs 220.
About 12 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Shares of Hero MotoCorp fluctuated between gains and losses to trade 0.16 percent lower at 2,425.50.
India’s largest two-wheeler maker’s December sales fell 6 percent year-on-year to 4,24,845 units.
Of the shares traded, 42 percent were at the ask price and 37 percent were at the bid, according to Bloomberg data. The stock traded at 16 times its estimated earnings per share for the coming year.
Indian equity benchmarks opened lower after gaining for two consecutive trading sessions.
The S&P BSE Sensex fell 0.3 percent to 41,501 and the NSE Nifty 50 fell 0.3 percent to 12,241.70. The broader markets represented by the NSE Nifty 500 Index fell 0.2 percent.
The market breadth was tilted in favour of sellers. About 759 shares declined and 716 stocks advanced on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 0.79 percent fall. On the flipside, the NSE Nifty IT Index was the top sectoral gainer, up 0.3 percent.
Indian equity benchmarks are set for a mixed start.
The S&P BSE Sensex rose 0.2 percent to 41,708.38 during the pre-market trade and the NSE Nifty 50 traded little changed at 12,281.
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