Sensex, Nifty Resume Decline After A Day’s Breather
Closing Bell: Sensex Falls Over 100 Points, Nifty Settles Above 11,050
Indian equity benchmarks resumed decline after a day's breather weighed down by IT and FMCG shares.
The S&P BSE Sensex fell 0.3 percent or 110 points to 36,542 and the NSE Nifty 50 Index declined 0.12 percent or 14 points to 11,054.
For most part of the day, benchmarks traded with a negative bias as volatility creeped in a day ahead of expiry of derivative contracts for the month of September.
Five of 11 sector gauges compiled by National Stock Exchange ended lower led by the Nifty IT Index's 1.9 percent drop. On the flipside, the Nifty Realty Index was top gainer, up 2.4 percent.
Mid-cap shares outperformed their larger peers as the S&P BSE MidCap Index rose 0.4 percent.
IZMO Surges After Arm Gets License To Manufacture Military Calibre Ammunition
Shares of the Bengaluru-based application software maker rose as much as 20 percent, the most in two months, to Rs 82 after its subsidiary Hughes Precision Manufacturing received the license to manufacture and proof test military calibre ammunition under the Arms Act, 1959, IZMO said in an exchange notification.
Sugar Stocks Decline After Cabinet Approves Policy To Deal With Excess Output
Shares of sugar makers fell after the government approved a policy to deal with excess output, Finance Minister Arun Jaitley told media persons after the cabinet meet in New Delhi.
Arun Jaitley in the meet said:
- Government to provide assistance of Rs 5,538 crore to sugar mills
- Expect higher sugar backlog in 2019
- Sugarcane production has been surplus in last year and this year
- Surplus of sugar will get accumulated in the next year as well
- To provide assistance to sugar mills freight handling for exports
- To provide assistance of Rs 13.88 rupees/quintal in 2018-19 to mills to offset cost of cane
Exide Industries Rises On Heavy Volumes
Shares of the electric storage batteries maker rose as much as 5.8 percent, the most in over three months, to Rs 272.35 on heavy volumes.
Trading volume was 1.5 times its 20-day average, according to data compiled by Bloomberg.
European Stocks Trade Mixed As Investors Eye Fed
European equities were mixed as investors eyed the U.S. Federal Reserve meeting, which is expected to bring another rate hike.