Sensex, Nifty Drop The Most In Three Weeks As HDFC Twins, RIL Drag
The Bombay Stock Exchange (BSE) logo is displayed on a biometric security and authentication device at the bourse’s building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Drop The Most In Three Weeks As HDFC Twins, RIL Drag

Latest First
  • Oldest First

Closing Bell: Sensex, Nifty Drop The Most In Three Weeks As HDFC Twins, RIL Drag

Indian indices registered their steepest fall in three weeks, led by the declines in HDFC Bank Ltd., HDFC Ltd. and Reliance Industries Ltd.

The S&P BSE Sensex fell 1.1 percent, the most since Jan. 6, 2019, to 41,155.12 and the NSE Nifty 50 fell 1.06 percent to 12,119. The broader markets represented by the NSE Nifty 500 Index fell 0.83 percent.

The market breadth was tilted in favour of sellers. About 1,067 stocks declined and 729 shares advanced on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Metal Index’s 3.1 percent fall. On the flipside, the NSE Nifty Pharma Index was the only sectoral gainer, up 1.5 percent.

Sun Pharma Advanced Surges 8% To 10-Month High

Shares of Sun Pharma Advanced Research extended gains for the third consecutive trading sessions. The stock rose as much as 8.3 percent to Rs 201.25, the highest since March 19, 2019.

Trading volume was more than double its 20-day average, Bloomberg data showed. The Relative Strength Index was above 70, indicating that the stock may be overbought.

Fab Four Stocks Of The Day

Wockhardt

  • Shares of the drugmaker surged 15 percent intraday to Rs 343.65 apiece.
  • The company reported a net profit of Rs 9.6 crore for the December quarter compared with a loss of Rs 71.7 crore in the year-ago period.
  • Revenue rose 16.9 percent to Rs 869.2 crore.
  • Ebitda jumped 5.7 times to Rs 109.2 crore.
  • Operating margin at 12.6 percent versus 1.8 percent.

La Opala RG

  • Stock rose as much as 15.4 percent to Rs 204
  • About 40 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Prestige Estates Projects

  • Stock rose as much as 5.4 percent to Rs 401.50 after announcing the December quarter results.

Key Earnings highlights (Q3, YoY)

  • Stock rose as much as 5.4 percent to Rs 401.50.
  • Revenue rose 2.5 times to Rs 2,680.9 crore.
  • Net profit up 2.8 times to Rs 161.8 crore.
  • Ebitda rose 2.1 times to Rs 718.8 crore.
  • Ebitda margin at 26.8 percent versus 32.6 percent.

Cholamandalam Investment & Finance

  • Stock rose as much as 4 percent to Rs 336.80.
  • Fresh longs seen with high open interest of 33 percent.
  • Trading volume was 2.5 times its 20-day average.

Large Trade Alert: ICICI Prudential Life Insurance

About 17 lakh shares of ICICI Prudential Life Insurance changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of the company rose for the sixth consecutive trading session. The stock rose as much as 2.6 percent to Rs 533.35.

Market Check: Sensex Drops Over 400 Points; Nifty Near 12,100

Indian stocks extended declines to trade at day’s low.

The S&P BSE Sensex fell 1 percent to 41,193 and the NSE Nifty 50 fell 0.98 percent to 12,128.50. The broader markets represented by the NSE Nifty 500 fell 0.73 percent.

Stocks Moving On Heavy Volumes

Thyrocare Technologies

  • Stock rose as much as 7.2 percent to Rs 588.
  • Trading volume was more than five times its 20-day average.

APL Apollo Tubes

  • Stock rose as much as 8.9 percent to Rs 2,219.
  • Trading volume was more than six times its 20-day average.

Atul

  • Stock rose as much as 8.4 percent to Rs 4,983.30
  • Trading volume was more than five times its 20-day average.
BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.