Sensex, Nifty Snap Six-Day Rally As HDFC Twins Drag
Closing Bell: Sensex Drops 107 Points Lower; Sun Pharma, M&M Top Losers
Indian equity benchmarks snapped their longest run of gains in four months on higher crude prices amid weakness in HDFC twins.
The S&P BSE Sensex fell 0.3 percent or 107 points to 36,134 and the NSE Nifty 50 Index declined 0.13 percent or 14 points to 10,869.
Twelve of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Realty Index’s 0.6 percent decline. On the flipside, the S&P BSE IT Index was top gainer, up 1.7 percent.
Mid- and small-cap shares closed on a muted note as the S&P BSE MidCap and S&P BSE SmallCap indices ended little changed.
HCL Technologies Rises On Extending Partnership with Barclays
Shares of the Noida-based IT company rose as much as 2.44 percent to Rs 1,043 after it expanded strategic IT partnership with Barclays.
HCL Technologies will start new operations centre in Lithuania and deal will be concluded first quarter of calendar year 2019, HCL Technologies said in a press release.
Alkem Labs Near Day's High As U.S. FDA Issues Form 483 With One Observation
Shares of the Mumbai-based drugmaker rose as much as 2.5 percent to Rs 1,950 after the U.S. drug regulator closed inspection of its St. Louis plant in U.S. with one observation.
In response to Form 483 issued by U.S. FDA has containing one observation, the company has submitted a detailed corrective and preventive action (CAPA) plan to the regulator within the stipulated timelines, Alkem Labs said in an exchange notification.
Asian Granito Rises On Allotting Convertible Warrants To Investors
Shares of the Gujarat-based tiles maker rose as much as 5.93 percent, the most in over a week, to Rs 209.
The company’s board approved issuance of 20 lakh convertible warrants to non-promoters of the company — Santario Ceramics and Oxento Ceramics at Rs 245 per convertible warrant, Asian Granito said in an exchange notification.
Market Update: Sensex, Nifty Struggle; Financials Fall, IT Stocks Gain
Indian equity benchmarks were trading on a weak note weighed down by selling pressure in financial services and metal shares.
The Sensex fell 0.36 percent or 131 points to 36,109 and the NSE Nifty 50 Index slipped 0.25 percent or 27 points to 10,856.
Eight of 11 sector gauges compiled by BSE were trading lower dragged by the Nifty Financial Services Index's 0.8 percent drop. On the other hand, the Nifty IT Index was top gainer, up 1.4 percent.