Sensex Ends Over 300 Points Lower; Nifty Logs Steepest Fall In Nearly A Month 
A photograph taken outside the NSE Building in Mumbai. (Source: BloombergQuint)

Sensex Ends Over 300 Points Lower; Nifty Logs Steepest Fall In Nearly A Month 

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Closing Bell: Sensex Ends Over 300 Points Lower; Nifty Logs Steepest Fall In Nearly A Month

Indian equity benchmarks extended declines for the second consecutive trading session.

The S&P BSE Sensex fell 0.82 percent or 334 points to close at 40,445.15. The NSE Nifty 50 fell 0.81 percent, the biggest fall since Nov. 08, to end at 11,921.50. The broader markets represented by the NSE Nifty 500 Index fell 0.9 percent.

On weekly basis, the 31-stock index halted their five-week gaining streak, the longest stretch of weekly gains since first week of April.

The market breadth was tilted in favour of sellers. About 1,262 stocks declined and 525 shares advanced on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 4.4 percent fall.

KEC International Gains After Winning New Orders

Shares of KEC International rose as much as 1.3 percent to Rs 273.10.

The company has secured new orders of Rs 1,025 crore across its various businesses, according to its stock exchange filing.

The stock traded at 11 times its estimated earnings per share for the coming year, according to Bloomberg data. The stock declined 1.9 percent in the past 12 months compared to a 14 percent gain in the Sensex.

Fab Four Stocks Of The Day

Camlin Fine Sciences

  • Stock rose as much as 8 percent to Rs 64.35.
  • Philip Capital maintained ‘Buy’ with a price target of Rs 140
  • Dahej plant to drive rapid value growth.
  • Expect saving in input materials to improve margins by 400 basis points.
  • Expect sales and Ebitda to grow rapidly at a CAGR of 22 percent and 60 percent respectively over FY19-22.

Bharti Infratel

  • Stock rose as much as 6.5 percent to Rs 262.
  • Fresh longs seen with high open interest at 9 percent.
  • Trading volume was 1.5 times its 20-day average.

Allcargo Logistics

  • Stock rose as much as 5 percent to Rs 98.90.
  • Board approves acquisition of 19.43 percent in Gati for Rs 177.9 crore.
  • Launches open for 26 percent stake in Gati.
  • To take over management control.

Eris Lifesciences

  • Stock rose as much as 14.9 percent to Rs 509.70.
  • The stock witnessed biggest intra-day gain this year.

Yes Bank Extends Decline, Shares Drop Over 9%

Shares of Yes Bank extended declines to trade at day’s low. The stock fell as much as 9.4 percent to 56.25.

That comes after Moody’s Investors Service downgraded the lender’s long-term foreign currency issuer rating by two notches to ‘B2’ from ‘Ba3’.

The ratings agency has also downgraded the bank’s long-term foreign and local currency bank deposit ratings to ‘B2’ from ‘Ba3’, foreign currency senior unsecured medium-term note program rating to ‘(P)B2’ from ‘(P)Ba3’, and baseline credit assessment and adjusted BCA to ‘b3’ from ‘b1’, according to its statement.

Stocks Moving On Heavy Volumes

MMTC

  • Stock rose as much as 19.8 percent to Rs 21.50.
  • Trading volume was more than 19 times its 20-day average.

Star Cement

  • Stock fell as much as 2.6 percent to Rs 90.25.
  • Trading volume was almost 40 times its 20-day average.

Eris Lifesciences

  • Stock rose as much as 14.9 percent to Rs 509.70.
  • Trading volume was almost 10 times its 20-day average.

Market Check: Sensex Falls 400 Points; Nifty Below 11,900

Indian equity benchmarks extended declines to trade at day’s low.

The S&P BSE Sensex fell 1 percent or 400 points to 40,377 and the NSE Nifty 50 fell 1 percent to 11,899. The broader markets represented by the NSE Nifty 500 Index fell 0.96 percent.

(Corrects earlier headline that mentioned incorrect Nifty value)

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