An investor looks at a stock quote screen near the end of the trading day in a brokerage in Shanghai, China. (Photographer: Kevin Lee/Bloomberg News)

Sensex Clocks Longest Losing Streak In Nearly Six Years; Nifty Ends Below 10,650

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Sensex Clocks Longest Losing Streak In Nearly Six Years; Nifty Ends Below 10,650

Indian equity benchmark—S&P BSE Sensex Index registered its longest losing streak since August 2013. The benchmark index fell for the eight consecutive trading session. The 31-share gauge ended 0.87 percent lower at 35,498.44.

The NSE Nifty 50 Index ended below 10,650, down 0.78 percent. The 50-stock index ended lower for the seventh day, clocking its longest losing streak in over a year.

The broader market index, represented by the NSE Nifty 500 Index ended 0.82 percent lower, led by the declines in Indiabulls Ventures Ltd. and Himadri Speciality Chemicals Ltd.

The market breadth was tilted in favour of sellers. About 1,145 stocks fell and 575 shares advanced on National Stock Exchange.

Nine out of 11 sectoral gauged compiled by NSE ended lower, led by the NSE Nifty PSU Bank Index’s 1.25 percent fall. On the flipside, the NSE Nifty Realty Index was the top sectoral gainer, up 0.76 percent.

Sensex Clocks Longest Losing Streak In Nearly Six Years; Nifty Ends Below 10,650

Block Deal Alert: Emami

About 8.5 percent of Emami changed hands in a block deal on Bombay Stock Exchange, Bloomberg data showed. Buyers and sellers were not known immediately.

Shares of the company fluctuated between gains and losses to trade 0.7 percent lower at Rs 358 on BSE after the block deal.

Stocks Moving On Heavy Volumes

Thyrocare Technologies

  • Stock rose nearly 20 percent intraday to Rs 604.70.
  • Trading volume was more than 11 times its 20-day average.

3M India

  • Stock rose as much as 6.6 percent to Rs 22,293.
  • Trading volume was almost nine times its 20-day average.

Techno Electric & Engineering

  • Stock rose as much as 6.4 percent to Rs 252.
  • Trading volume was more than five times its 20-day average.

Thermax

  • Stock fell as much as 4.5 percent to Rs 952.50.
  • Trading volume was more than six times its 20-day average.

From Bloomberg: Centre Working With States To End Branded Generic Drugs

The Indian government The Indian government is working with states to end branded generics, but has no timeline for stripping generic medicines of their brand names, Bloomberg reported, quoting Jai Priye Prakash, secretary of the department of pharmaceuticals.

DHFL Resumes Rally After One-Day Blip, Jumps Nearly 10%

Shares of Dewan Housing Finance Corporation Ltd. rose as much as 9.98 percent to Rs 135.50. The stock resumed rally after a one-day blip

“Baring, Bain and Hero Fincorp are in talks to buy a 10 percent stake in the company,” Economic Times reported, quoting people with knowledge of the matter.

Trading volume was 1.6 times its 30-day average, Bloomberg data showed. The stock rose 24 percent in the past five days and fell 40 percent in the past 30 days.

Sensex Clocks Longest Losing Streak In Nearly Six Years; Nifty Ends Below 10,650