Sensex, Nifty Give Up Wednesday’s Gains; End 2.5% Lower
The Bombay Stock Exchange (BSE) building stands in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Give Up Wednesday’s Gains; End 2.5% Lower

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Markets At Close

  • Benchmark indices end near the day's low; erase all of Wednesday's gains
  • Nifty ends 2.57 percent lower at 9,142
  • Nifty futures trade at a premium of 11 points
  • Sensex ends 2.77 percent lower at 31,122
  • Nifty Bank ends 2.88 percent lower at 19,068
  • Nifty Midcap Index end 0.35 percent lower
  • Nifty Smallcap Index ends 1 percent lower
  • India Volatility Index ends 1.5 percent lower at 38.23
  • Nifty FMCG (Up 0.7 percent) and Nifty Pharma (Up 0.3 percent) end as only sectoral gainers
  • Nifty I.T. ends as top sectoral loser; down 3.5 percent
  • Nifty Metal, Nifty PSU Bank end with losses of over 2.5 percent
  • Bharti Infratel ends as the top Nifty gainer; up 4.9 percent
  • Tech Mahindra ends as the top Nifty loser; down 5.3 percent
  • 722 stocks on the NSE end with gains while 1,032 end with losses

Contributors & Sectoral Indices

Closing Bell: Back To Square One

Indian equity markets gave up all of Wednesday's gains to again turn negative for the week as investors seemed to be unenthused by the relief package announcements made on Wednesday. The Finance Minister will be addressing another press conference in just a short while from now.

European markets continue to trade with losses while futures on the Dow Jones are flat, down 20 points.

The S&P BSE Sensex ended 2.77 percent lower at 31,122 while the NSE Nifty 50 ended at 9,142, down by 2.6 percent. 40 out of the 50 Nifty constituents ended with losses.

For the week so far, the Sensex is down 1.5 percent while the Nifty is down 1.1 percent.

Among sectoral indices, the I.T. index was the primary laggard, ending 3.6 percent lower. Nifty Bank, Nifty Metal and the Nifty PSU Bank index ended with cuts of over 2.5 percent.

722 stocks on the NSE ended with gains while 1,032 ended with losses.

Stock Update: Ashok Leyland

The Board of Directors of the company at a meeting held today have approved the raising of funds through listed, secured and redeemable Non-Convertible Debentures (NCDs).

The aggregate amount for the same will be Rs 300 crore with a green-shoe option of Rs 200 crore. The NCDs will be issued on a private placement basis in one or more tranches, the company said in its statement to the exchanges.

Shares recovered from the day's low to gain as much as 1.74 percent to Rs 49.60.

Trading Ideas From Brijesh Singh Of StockAxis

  • Buy Nifty below 9,150 for target of 9,250 and stop loss of 9,080
  • Buy Bharti Infratel at Rs 211 for target of Rs 225-228 and stop loss of Rs 200
  • Buy Torrent Pharma at Rs 2,410 for target of Rs 2,540 and stop loss of Rs 2,280

Trading Ideas From Sacchitanand Uttekar Of Tradebulls

  • Buy Ultratech around Rs 3,580 for target of Rs 3,730 and stop loss of Rs 3,520
  • Sell NIIT Tech futures around Rs 1,350-1,345 for target of Rs 1,255 and stop loss of Rs 1,390
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