Share Market Today: Sensex, Nifty Tumble Over 1%; IT Stocks Remain Under Pressure
The S&P BSE Sensex was down by 879 points or 1.4% at 61,799.03 while the NSE Nifty 50 was 265 points or 1.42% lower at 18,395.10.
Yield On The 10-Year Bond Rises
The yield on the 10-year bond rose by 5 basis points to 7.27% on Thursday.
Source: Bloomberg
Indian Rupee Falls Against The U.S. Dollar
The Indian rupee depreciated against the U.S. dollar on Thursday.
During the day, the rupee fell as much as 0.4% to 82.77 and finished trading near the day's low at 82.75.
It closed at 82.44 on Wednesday.
Source: Bloomberg
Closing Bell
The Indian benchmark indices fell the most since Nov. 10 declining more than 1% in trade on Thursday.
The S&P BSE Sensex was down by 879 points or 1.4% at 61,799.03 while the NSE Nifty 50 was 265 points or 1.42% lower at 18,395.10.
Britannia Industries Ltd., Hero Moto Corp Ltd., NTPC Ltd., SBI Life Insurance Co., Sun Pharma Ltd. were the top gainers amongst the NSE Nifty 50 constituents.
Whereas, Tech Mahindra Ltd., Titan Co., Infosys Ltd., Grasim Ltd., and Eicher Motors Ltd. were the top laggards in the gauge.
The broader market indices also declined in trade as the S&P BSE MidCap was down by 1.05%, whereas S&P BSE SmallCap was lower by 0.61%.
Nineteen of the BSE's 20 sectoral indices went down, except BSE Oil & Gas ending flat at 0.09%
The market breadth was skewed in favour of the bears. About 1,406 rose, 2,151 declined, and 123 remained unchanged on the BSE.
Poonawalla Fincorp Declines After Announcing Sale Of Housing Finance Arm
The shares of Poonawalla Fincorp fell 5.05% in trade on Thursday, it declined by 5.21% today, the most in eight weeks since Oct. 21.
The company announced the sale of its subsidiary Poonawalla Housing Finance to TPG-affiliate Perseus SG for Rs 3,900 crore.
The stock was trading at 2.9 times its 30-day average trading volume.
Of the 10 analysts tracking the stock, seven maintain a 'buy' rating, two suggest to 'hold' the stock and one recommends to 'sell'.
Source: Bloomberg, Exchanges
