Sensex, Nifty Post Worst Weekly Performance In A Month
Indian equity benchmarks resumed selloff after taking a day's breather in the previous session as state-run lenders and metal producers came under selling pressure.
The S&P BSE Sensex fell 0.13 percent or 44 points to 33,307 and the NSE Nifty 50 index declined 0.15 percent or 16 points to 10,227.
On a weekly basis, the benchmarks posted worst performance in a month. The Sensex plunged 2.17 percent and Nifty tumbled 2.2 percent.
Seven out of 11 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Metal index’s 1.8 percent drop. On the flipside, the Nifty IT index was the top sectoral gainer, up 0.5 percent.
Fab Four Stocks Of The Day
- Inox Leisure: The stock rose as much as 6.14 percent to Rs 274.45 after CLSA maintained buy with a target price of Rs 330 per share.
- Videocon Industries: The stock was locked in a 5 percent upper circuit on the back of reports that it plans to raise as much as Rs 30,000 crore by selling its stakes in oil blocks in Brazil, as part of the debt-laden company’s plan to repay bank loans.
- Filatex India: The stock rose nearly 5 percent after it started commercial production of synthetic yarn from its Dahej unit.
- Central Bank: The stock gained more than 18 percent, its biggest move in 2018. As many as 59 lakh shares changed hands in multiple blocks.
- Indian equity benchmarks swung as gains in IT and banking shares were offset by losses in metal and PSU bank stocks.
- The S&P BSE Sensex rose 0.2 percent or 73 points to 33,424 and the NSE Nifty 50 index advanced 0.2 percent or 19 points to 10,263.
- Six out of 11 sector gauges compiled by the National Stock Exchange were trading higher led by the Nifty IT index's 0.5 percent gain. On the other hand, the Nifty PSU Bank index was the top sectoral loser, down 1.6 percent.
Stocks Moving On Heavy Volumes
- Central Bank of India: The Mumbai-based government-owned lender rose as much as 4 percent to Rs 70.30. The trading volume was 13.5 times its 20-day average.
- Schaeffler India: The Mumbai-based fabricated metal and hardware maker rose nearly 1 percent to Rs 5,345. Trading volume was 10.5 times its 20-day average.
- VA Tech Wabag: The Chennai-based designer of water and sewage treatment plants rose 8.68 percent to Rs 519.50. Trading volume was 6.3 times its 20-day average.
- KRBL: The Delhi-based rice producer and exporter fell as much as 8.72 percent to Rs 426. Trading volume was 5.9 times its 20-day average.