A trader uses a telephone as he works on the trading floor. (Photographer: Chris Ratcliffe/Bloomberg)

Sensex, Nifty Post Their Worst Two-Day Fall In Nearly A Month

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Closing Bell: Sensex, Nifty Post Their Worst Two-Day Fall In Nearly A Month

Indian equity benchmarks ended lower for the second day, posting their worst two-day decline in nearly a month.

The S&P BSE Sensex Index ended 0.77 percent lower at 35,199.80 and the NSE Nifty 50 Index ended at 10,600.05, down 0.53 percent.

Six out of 11 sectoral gauges compiled by National Stock Exchange advanced, led by the NSE Nifty Pharma Index’s 1.7 percent gain. On the flipside, NSE Nifty IT Index was the top sectoral loser, down 2.8 percent.

Sensex, Nifty Post Their Worst Two-Day Fall In Nearly A Month

Stocks Moving On Heavy Volumes

VRL Logistics

  • Stock rose as much as 9.1 percent to Rs 314.80.
  • Trading volume was almost five times its 20-day average.

Phillips Carbon

  • Stock rose as much as 10.8 percent to Rs 228.60.
  • Trading volume was four times its 20-day average.

Vodafone Idea

  • Stock rose as much as 7.6 percent to Rs 45.55.
  • Trading volume was more than double its 20-day average.

SpiceJet

  • Stock rose as much as 7.4 percent to Rs 84.
  • Trading volume was double its 20-day average.

From Bloomberg: Goldman Sees Double-Digit Emerging-Market Stock Returns In 2019

Emerging-market equities look set to post double-digit returns next year after a tumultuous 2018 in which they tumbled into the bear market territory, Bloomberg reported quoting Goldman Sachs.

“With the U.S. economy likely to expand through 2020 and China managing its bumpy slowdown with bouts of stimulus, developing-nation shares will probably return 12 percent in dollar terms while assets as a whole will post modest gains in 2019,” Bloomberg reported quoting the brokerage's research report. (Click here to read the full story)

Block Deal Alert: ICICI Bank

About 53.5 lakh shares of ICICI Bank changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.

Dewan Housing Finance Q1 Profit Jumps 52%, Shares Rise

Shares of Dewan Housing Finance Corporation Ltd. rose as much as 6 percent to Rs 238.80 after the company announced its quarterly results for the July-September period. Besides, the company's board also approved the debenture issue of worth Rs 10,000 crore.

Key earnings highlights (Q2, YoY)

  • Net profit up 52 percent at Rs 438.7 crore.
  • Revenue up 33.5 percent at 3,515.6 crore.
  • Tax expense up 83 percent at Rs 194 crore.