A trader reacts as he monitors financial information on computer screens on the trading floor. (Photographer: Chris Ratcliffe/Bloomberg)

Sensex, Nifty End Lower For Second Day After RBI’s Neutral Stance Disappoints

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Sensex, Nifty End Lower For Second Day

Indian equity benchmarks ended lower for the second consecutive trading session after the Reserve Bank of India cut repo rate as per the expectations, but refrained from shifting to a more easy stance.

The S&P BSE Sensex ended 0.49 percent lower at 38,684.22 and the NSE Nifty 50 ended at 11,598, down 0.39 percent. The broader market index represented by the NSE Nifty 500 Index ended 0.7 percent lower.

The market breadth was tilted in favour of sellers. About 1,047 stocks fell and 701 shares advanced on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by NSE fell, led by the NSE Nifty IT Index’s 1.37 percent decline. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 1.09 percent.

Sensex, Nifty End Lower For Second Day After RBI’s Neutral Stance Disappoints

Stocks Moving On Heavy Volumes

Varroc Engineering

  • Stock rose as much as 12.9 percent to Rs 654.50.
  • Trading volume was more than 100 times its 20-day average.

Cera Sanitaryware

  • Stock fell as much as 3.1 percent to Rs 2,775.70.
  • Trading volume was more than three times its 20-day average.

Heritage Foods

  • Shares fell as much as 1.3 percent to Rs 540.25.
  • Trading volume was more than five times its 20-day average.

Jyothy Laboratories

  • Stock rose as much as 1 percent to Rs 183.85.
  • Trading volume was more than five times its 20-day average.

CreditAccess Gramin

  • Stock fell as much as 2.1 percent to Rs 544.30.
  • Trading volume was more than four times its 20-day average.

Bloomberg Exclusive: Mukesh Ambani, Sunil Mittal Said To Weigh Bids For Zee

Mukesh Ambani and Sunil Mittal are considering competing bids for a stake in Zee Entertainment Enterprises, Bloomberg reported.

  • Bharti Airtel has started due diligence of Zee Entertainment Enterprises and is expected to make a formal proposal soon.
  • Reliance Jio Infocomm is also considering a bid.
  • Deliberations are preliminary and may not lead to a transaction.

Source: People familiar with the matter.

Sensex, Nifty End Lower For Second Day After RBI’s Neutral Stance Disappoints

Money Market Update: Rupee At Day’s Low

The Indian rupee traded at day’s low against the U.S. dollar. The home currency depreciated as much as 1.04 percent to 69313 against the greenback.

Sensex, Nifty End Lower For Second Day After RBI’s Neutral Stance Disappoints

Europe Market Check: Equities Decline

European equities dipped, weighed by a fall among basic resources and oil stocks.

Sensex, Nifty End Lower For Second Day After RBI’s Neutral Stance Disappoints