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The market breadth was tilted in favour of sellers. About 1054 stocks declined and 746 shares advanced on National Stock Exchange.
Nine out of the 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Auto Index’s 0.75 percent fall. Nifty IT Index was the top gainer, up 0.37 percent.
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We don’t the current fall to extend beyond 11,800 which acts as a strong support level.
Shares of the Adani Group firm declined 4.7 percent to Rs 194.55 apiece, the lowest level in nearly two months.
Supreme Court will hear plea on over-invoicing probe against Adani Enterprises in two weeks, according to Bloomberg report. Supreme Court put on hold an October order by the Bombay High Court that quashed Directorate of Revenue Intelligence’s Letter Rogatory for information from foreign countries, the report added.
The stock traded at 20 times its estimated earnings per share for the coming year, Bloomberg data showed.
Shares of the New Delhi-based media firm surged 7.7 percent to Rs 17.40 apiece.
HT Media’s arm HT Learning Centers to restructure its ‘Studymate’ and ‘Englishmate’ businesses, according to its exchange notification. The arm will not accept new enrollment but will continue to honour existing commitments for the academic year 2019-2020, the notification added.
The trading volume was nearly three times the 20-day average for this time of the day, Bloomberg data showed.
Indian equity benchmarks traded lower in the afternoon trade led by declines in auto stocks.
The S&P BSE Sensex fell 0.65 percent 40,602.70 and the NSE Nifty 50 fell 0.75 percent to 11,961.90—their lowest levels since first week of December. The broader markets represented by the NSE Nifty 500 Index fell 0.68 percent.
The market breadth was tilted in favour of sellers. About 1,200 stocks declined and 527 shares advanced on National Stock Exchange.
All sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Bank Index’s 1.82 percent fall.
Shares of the Hyderabad-based infrastructure developer fell 4.3 percent to Rs 80.50 each.
The company defaulted on loans from financial institutions and banks stood at Rs 82.66 crore as on Dec. 31, according to its exchange filing. The total financial indebtedness was at Rs 3,299.04 crore, the filing said.
Gayatri Projects said unusual cash flow mismatches during the sector quarter due to prolonged monsoon and delay in payments from state governments as reasons for the default. However, the company is now at an advanced stage of monetising its arbitration awards of over Rs 900 crore, the filing added.
The stock has fallen 53 percent in the past 12 months compared with a 13 percent gain in the Nifty Index.
Indian telecom firms approached the Supreme Court to seek early hearing of the review petition in adjusted gross revenue case.
The top court to decide on the plea on Jan. 9. The deadline for payment of AGR dues is Jan. 23.
Shares of Vodafone Idea jumped 5 percent to Rs 6.30 apiece while Bharti Airtel pared losses and traded 0.4 percent lower at Rs 440.35 each.
Nifty’s 12,100 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Jan. 9, fell 52 percent to Rs 16.70. Over 6.50 lakh shares were added to the open interest which stood at over 29.12 lakh shares.
Buyers and sellers were not known immediately
Source: Bloomberg
Shares of ITC resumed declines after a one-day breather. The stock fell as much as 0.9 percent to Rs 233.25, the lowest since December 2016.
The stock declined 16 percent in the past 12 months compared to a 14 percent rally in the Sensex. The scrip traded at 19 times its estimated earnings per share for the coming year, according to Bloomberg data.
Indian stocks pared most of their opening losses.
The S&P BSE Sensex fell 0.34 percent 40,731 after declining as much as 0.96 percent earlier and the NSE Nifty 50 fell 0.37 percent to 12,008. The 50-stock index had declined as much as 1.02 percent in the opening trade. The broader markets represented by the NSE Nifty 500 Index fell 0.3 percent.
The market breadth was tilted in favour of sellers. About 1,023 stocks declined and 620 shares advanced on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty PSU Bank Index’s 1.07 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 0.25 percent.
Shares of Navin Fluorine International extended gains for the second consecutive trading session. The stock rose as much as 5.9 percent to hit an all-time high at Rs 1,083.80.
The company commenced commercial production in its cGMP capacity addition in Madhya Pradesh plant, according to the statement on the exchanges.
Trading volume was almost nine times its 20-day average, Bloomberg data showed. The relative strength index was above 70, indicating that the stock may be overbought.
Navin Fluorine traded at 28 times its estimated earnings per share for the coming year, according to Bloomberg data.
Shares of Suzlon Energy halted a five-day gaining streak. The stock hit its lower circuit of 10 percent at Rs 3.15.
The company’s default on loans from financial institutions and banks stood at Rs 7,256 crore as on Dec. 31, according to its statement to the exchanges.
The scrip advanced 68 percent in the past five days and 45 percent in the past 30 days. Trading volume was almost eight times its 20-day average, according to Bloomberg data.
Shares of Yes Bank rose as much as 4.8 percent to Rs 47.20.
The Mumbai-based lender plans to consider fundraising proposals in its board meeting on Jan. 10, according to its statement to the exchanges.
The stock was the best performer on Nifty. The stock declined 0.9 percent in the past five days and declined 17 percent in the past 30 days, according to Blomberg data.
Indian equity benchmarks opened lower, resuming declines after a one-day blip.
The S&P BSE Sensex fell 0.76 percent or 316 points to 40,556 and the NSE Nifty 50 fell 0.86 percent to 11,948. The broader markets represented by the NSE Nifty 500 Index fell 0.95 percent.
The market breadth was tilted in favour of sellers. About 1,081 stocks declined and 342 shares advanced on National Stock Exchange.
All the 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 2.52 percent advance.
Indian equity benchmarks are set to open lower.
The S&P BSE Sensex fell 0.24 percent to 40,771.31 during the pre-market trade and the NSE Nifty 50 fell 1.5 percent to 11,873.
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