Sensex, Nifty End Lower For Second Day; Banks, FMCG Top Laggards
A trader monitors a graph showing the pound moving on the trading floor at ETX Capital, a broker of contracts-for-difference, following a U.K. parliamentary vote on amendment B for the Brexit deal in London, U.K. (Photographer: Simon Dawson/Bloomberg)

Sensex, Nifty End Lower For Second Day; Banks, FMCG Top Laggards

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Markets At Close

  • Benchmark indices struggle to hold gains; end near day's low
  • Nifty ends 0.95 percent lower at 9,205
  • Sensex ends 0.8 percent lower at 31,453
  • Nifty Bank ends 2.4 percent lower at 19,271
  • Nifty Midcap Index ends 0.7 percent lower
  • Nifty Smallcap Index end 1.3 percent lower
  • India Volatility Index end 1 percent lower at 43.26
  • Nifty PSU Banking index ends as top sectoral laggard; down 3.3 percent
  • Nifty FMCG, Media, Metal end with losses of over 1 percent
  • Nifty Pharma and Nifty Realty index fall between 2-3 percent
  • Bharti Infratel ends as the top Nifty gainer; up 3.6 percent
  • State Bank of India ends as the top Nifty laggard; down 4.2 percent
  • 1,131 stocks on the NSE ended with losses while 628 ended with gains

Top Laggards & Sectoral Picture

Closing Bell: Last Hour Strikes Again

After trading in a range for most parts of the trading day, Indian equity markets witnessed a sell-off in the final hour to end lower for the second straight day.

The S&P BSE Sensex fell over 850 points from its day's high of 32,264 to end at 31,453, down 0.8 percent.

The NSE Nifty 50 ended at 9,205, down over 250 points from the highest point of the day at 9,490. The index shed 0.95 percent in today's trading session. 35 out of the 50 index constituents ended with losses.

Banking stocks were the major laggards in today's trading session. The Nifty PSU Banking index was the top sectoral laggard, ending 3.1 percent lower due to losses in SBI while the Nifty Banking index too ended with cuts of 2.2 percent.

Among other sectoral indices, Nifty Pharma, Nifty FMCG and Nifty Realty fell between 2-3 percent.

Stock Update: Dabur

The company has informed the exchanges that production has resumed across all manufacturing locations of the company and that corporate offices have resumed work only with 'critical staff.'

It has also informed of launching various new products across healthcare, home and personal care and food categories. These products range from Tulsi Juise to immunity kits, air sanitisers and hand sanitisers.

Shares fell as much as 3.9 percent to Rs 450.30 and are down for the second straight day.

Earnings Reaction: SBI Life

The life insurance player saw a 5 percent rise in its gross premium in the fourth quarter to Rs 11,937 crore. This compares to the Rs 11,376 crore figure during the same period last year.

Net profit rose 16 percent year-on-year to Rs 531 crore while VNB Margins for FY20 expanded to 20.7 percent from 20 percent.

The 13th month persistency ratio for FY20 stood at 86.14 percent from 85.07 percent.

Shares gained as much as 6.84 percent to Rs 734.70 before cooling off.

Trading Ideas From Brijesh Bhatia Of Dealmoney Securities

  • Sell Nifty futures at 9,260 - 9,280 for target of 9,085 and stop loss of 9,415
  • Sell DLF futures at Rs 129 for target of Rs 121 and stop loss of Rs 132.65
  • Sell Canara Bank futures at Rs 80.50 for target of Rs 74 and stop loss of Rs 83.35
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