Post Session: Sensex, Nifty end lower amid weak global cues
12/06/2019 16:43
The Indian benchmark indices ended on negative note dragged by losses in banking and auto stocks amid weak global cues. Among sectors, except metal and FMCG all other indices ended in red led by pharma, auto, bank, energy and infra. Asian stocks were trading in a defensive crouch as Washington took a tough line on trade talks with China, coupled with the anticipation that a looming US inflation could scramble odds of an early cut in interest rates there. Bourses in Europe were also trading lower in their early deals. On the currency front, the Indian rupee appreciated 10 paise to 69.34. Among others, the shares of Indiabulls Housing Finance traded under pressure, dropped nearly 10 per cent after the company moved the Supreme Court seeking urgent listing of a plea filed against it in which it has been alleged that it misappropriated Rs 98,000 crore of public money while the shares of Varun Beverages surged more than a per cent ahead of board meeting to consider the proposal for declaration of bonus issue of equity shares.

The 30-share index settled at 39756.81 down by -193.65 points or by -0.48 per cent and then NSE Nifty was at 11906.2 down by -59.4 points or by -0.5 per cent. The BSE Sensex touched intraday high of 39982.1 and intraday low of 39623.53 The NSE Nifty touched intraday high of 11962.45 and intraday low of 11866.35.

The top gainers of the BSE Sensex were Tata Steel Ltd. (Rs. 505.60,+2.60%), Oil And Natural Gas Corporation Ltd. (Rs. 170.45,+0.86%), Vedanta Ltd. (Rs. 170.10,+0.50%), Sun Pharmaceutical Industries Ltd. (Rs. 391.65,+0.47%), Tata Consultancy Services Ltd. (Rs. 2258.45,+0.25%), among others. On the other hand, the top losers of the BSE Sensex were YES Bank Ltd. (Rs. 134.65,-3.34%), Maruti Suzuki India Ltd. (Rs. 6848.50,-1.79%), Tata Motors Ltd. (Rs. 83.15,-1.71%), Kotak Mahindra Bank Ltd. (Rs. 1482.70,-1.65%), Hero MotoCorp Ltd. (Rs. 2732.90,-1.55%), among others.

Among sectors, Metal index was at 11022.94 up by 53.06 points or by 0.48%. Tata Steel Ltd. (Rs. 505.60,+2.60%), Jindal Steel & Power Ltd. (Rs. 165.70,+2.22%), Steel Authority of India (SAIL) Ltd. (Rs. 50.30,+1.51%), Vedanta Ltd. (Rs. 170.10,+0.50%), Hindalco Industries Ltd. (Rs. 199.90,+0.20%),. On the flip side, CGS index was at 19460.61 down by -226.69 points or by -1.15%. Suzlon Energy Ltd. (Rs. 4.48,-6.28%), BEML Ltd. (Rs. 920.25,-3.86%), CG Power and Industrial Solutions Ltd. (Rs. 31.60,-3.51%), GE T&D India Ltd. (Rs. 247.60,-3.24%), Schaeffler India Ltd. (Rs. 4970.00,-3.00%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2897 , shares advanced were 1144 while 1569 shares declined and 184 were unchanged.