Sensex, Nifty Fall For Second Straight Session On Weak Global Cues
Closing Bell: Sensex, Nifty Fall Over 1% For Second Day In A Row
Indian equity benchmarks fell over a percent for second day in a row mirroring loss in other Asian and European markets on worries over slowing global economic growth.
The S&P BSE Sensex fell 1.05 percent or 378 points to 35,514 and the NSE Nifty 50 Index dropped 1.11 percent or 120 points to 10,672.
Worries over global growth grew after the iPhone maker cut its first-quarter guidance for the first time in almost two decades, citing an unforeseen slowdown in China and fewer upgrades to its flagship mobile device. U.S. equity futures slumped over 1.5 percent while European markets — DAX, CAC40 and FTSE 100 dropped up to 1 percent.
Back home, seventeen of 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index's 2.35 percent decline. On the flipside, S&P BSE Telecom Index was top gainer, up 0.6 percent.
Mid- and small-cap shares also faced selling pressure as the S&P BSE MidCap Index tumbled 1 percent and the S&P BSE SmallCap Index declined 0.6 percent.
Sheela Foam, Tube Investments Among Stocks Moving On Heavy Volumes
- Tube Investments of India: The Chennai-based fabricate metal products maker rose as much as 11 percent to Rs 392. Trading volume was more than 19 times its 20-day average.
- Hatsun Agro: The Chennai-based dairy products maker rose as much as 10 percent, the most in over a month, to Rs 695. Trading volume was more than 14 times its 20-day average.
- Sheela Foam: The Ghaziabad-based mattress maker fell as much as 3.81 percent to Rs 1,410. Trading volume was more than seven times its 20-day average.
- KNR Constructions: The Hyderabad-based construction company rose as much as 7 percent to Rs 229.50. Trading volume was more than six times its 20-day average.
Market Check: Sensex Drops Nearly 300 Points, Nifty Below 10,700
Indian equity benchmarks extended decline led by HDFC twins, Larsen & Toubro, Reliance Industries and TCS.
The Sensex fell 0.90 percent or 328 points to 35,563 and the NSE Nifty 50 Index dropped 1 percent or 106 points to 10,686.
Sixteen of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Metal Index's 1.85 percent decline. On the flipside, S&P BSE Realty Index was top gainer, up 0.21 percent.
Mid- and small-cap shares were also witnessing selling pressure as the S&P BSE MidCap Index fell 0.64 percent and the S&P BSE SmallCap Index declined 0.2 percent.
The overall market breadth was negative as 1,421 stocks were declining while 947 were advancing on the BSE.
TCS February 1,700 Put Has Over 10 Lakh Shares Added In Open Interest
More than Rs 190 crore notionally wagered on TCS February 1,700 put option contract at an average premium of Rs 22.90.
The strike level is more than 10 percent below the last traded price of Rs 1,905.
Over 10 lakh shares were added to the open interest which stood at 10.02 lakh shares on the National Stock Exchange, according to exchange data.
Block Deal Alerts: Gujarat State Petronet, ONGC, Aditya Birla Capital
- Aditya Birla Capital has 30 lakh shares change hands in a block. Stock down 1.2 percent at Rs 98.10.
- Gujarat State Petronet has 14.30 lakh shares change hands in a block. Stock down 0.43 percent at Rs 175.30.
- ONGC has 30 lakh shares change hands in two block deals. Stock down 2.79 percent at Rs 142.95.
Buyers and sellers were not immediately known