Sensex, Nifty Extend Fall For Second Day As Infosys, HDFC Bank Drag
A trader monitors financial data on a computer screen inside the offices of a broking firm. (Photographer: Yorgos Karahalis/Bloomberg)

Sensex, Nifty Extend Fall For Second Day As Infosys, HDFC Bank Drag

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Sensex, Nifty Extend Fall For Second Day As Infosys, HDFC Bank Drag

Indian equity benchmarks fell for the second consecutive trading session, led by the declines in Infosys Ltd. and HDFC Bank Ltd.

The S&P BSE Sensex fell 0.48 percent to 40,382.37 and the NSE Nifty 50 fell 0.44 percent to end at 11,916.20. The broader markets represented by the NSE Nifty 500 Index fell 0.33 percent.

The market breadth was tilted in favour of sellers. About 925 stocks declined and 842 shares advanced on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty IT Index’s 1.9 percent fall. On the flipside, the NSE Nifty Metal Index was the top sectoral gainer, up 2 percent.

Sensex, Nifty Extend Fall For Second Day As Infosys, HDFC Bank Drag

Fab Four Stocks Of The Day

NTPC

  • Shares of NTPC rose as much as 3 percent to Rs 118.75.
  • That comes after brokerage firm Morgan Stanley upgraded the stock rating to ‘Overweight’ from ‘Equal-weight’ and hiked price target to Rs 152 from Rs 146.7.

Equitas Holdings

  • Stock rose as much as 3.5 percent to Rs 91.30
  • Fresh longs with high OI of 9 percent
  • Volume at 1.5 times its 20-day average.

Godrej Properties

  • Stock rose as much as 4 percent to Rs 894.
  • The scrip snapped nine-day losing streak, the longest since its listing.

DHFL

  • Stock hit an upper circuit of 5 percent
  • RBI appointed panel to advise administrator of the company

Stocks Moving On Heavy Volumes

Network18 Media & Investments

  • Stock rose as much as 14.2 percent to Rs 31.70.
  • Trading volume was almost 13 times its 20-day average.

FDC India

  • Stock fell as much as 2.8 percent to Rs 188.45.
  • Trading volume more than six times its 20-day average.

Finolex Cables

  • Stock rose as much as 2.5 percent to Rs 365.
  • Trading volume was almost two times its 20-day average.

Sterling & Wilson Solar

  • Stock rose as much as 9.8 percent to Rs 345.
  • Trading volume was almost six times its 20-day average.

Sectoral Indices Check: Nifty IT Index Worst Sectoral Performer

Six out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty IT Index’s 2 percent fall. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 2.3 percent.

Global Markets Update: Asian Stocks Trade Mixed

Asia stocks were mixed Friday amid muted volumes, as investors awaited further details on U.S.-China trade discussions.

  • The MSCI Asia Pacific Index was little changed.
  • Japan’s Topix index rose 0.1 percent. Hong Kong’s Hang Seng added 0.2 percent.
  • The Shanghai Composite slid 0.6 percent.
  • Futures on the S&P 500 Index were rose 0.1 percent.
  • The underlying gauge fell 0.2 percent.
  • Australia’s S&P/ASX 200 Index added 0.6 percent.
  • South Korea’s Kospi rose 0.3 percent.
  • Euro Stoxx 50 futures were flat.

Get your daily fix of global markets here.

RBI Appoints Panel To Advise Administrator Of DHFL

The Reserve Bank of India today said that it has appointed an Advisory Committee to advise the Administrator of Dewan Housing Finance Corporation Ltd.

The panel will include IDFC First Bank Ltd.’s Non-Executive Chairman Rajiv Lall, Managing Director and CEO, ICICI Prudential Life Insurance Co. Ltd. NS Kannan and Chief Executive, Association of Mutual Funds in India NS Venkatesh, the country’s central bank said in a media statement today.

On Nov. 20, RBI had superseded the board of DHFL and intends to refer the non-bank lender for resolution under the newly introduced insolvency window for financial service providers. It also said that it intends to “shortly initiate the process of resolution of the company.”

Shares of DHFL hit an upper circuit of 5 percent for the second consecutive trading session.

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