Sensex, Nifty Snaps Four-Day Winning Streak
Indian equity benchmarks snapped four-day gains after fluctuating between gains and losses all through the day.
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Indian equity benchmarks snapped four-day gains after fluctuating between gains and losses all through the trading session. Gains in Hindalco industries and ONGC was countered by losses in Dr. Reddy’s Lamoratories.
The S&P BSE Sensex Index fell 0.2 percent to 33,777 after 18 out of 31 stocks ended lower. The NSE Nifty 50 Index also fell 0.2 percent to 10,463. Both the indices had touched new record intraday highs.
The market breadth was tilted in favour of buyers. Fourteen of the 19 sector gauges compiled by the BSE Ltd. rose led by the S&P BSE Realty Index’s 3 percent gain.
Meanwhile, S&P BSE Finance Index declined 0.4 percent, making it the worst performer among the sectoral indices.
Block Deal Alert
- MTNL: About 12 lakh shares changed hands in a block deal.
- Motherson Sumi: About 80 lakh shared changed hands in three block deals.
Buyers and sellers were not known immediately.
Source: Bloomberg
Bank of India Slumps After Placed Under Corrective Action
Shares of the Mumbai-based commercial bank snapped four-day gains and fell as much as 5.4 percent, the most in over one-and-a-half month to Rs 171.45.
The country’s central bank has placed the lender under corrective action framework, according to a stock exchange notification.
The stock has returned 66.3 percent so far this year, compared to 28.9 percent advance in the country's benchmark Sensex.
No Delhi High Court Relief For IndiGo
The Delhi High Court dismissed budget airline IndiGo’s petition against partially shifting its operations from Terminal 1 of the Delhi International Airport to the newly made Terminal 2. The high court however, did extend the deadline to shift its operations to February from Jan. 4.
Shares of the budget carrier erased gains and traded a little changed at Rs 1,161.85 after the announcement.