Sensex, Nifty Decline With Global Markets As U.S.-Iran Tensions Escalate
A trader monitors financial data inside the Frankfurt Stock Exchange, operated by Deutsche Boerse AG, in Frankfurt, Germany. (Photographer: Alex Kraus/Bloomberg)

Sensex, Nifty Decline With Global Markets As U.S.-Iran Tensions Escalate

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Closing Bell: Sensex, Nifty Decline With Global Markets As U.S-Iran Tensions Escalate

Indian equity benchmarks ended lower, mirroring global peers as tensions between U.S. and Iran escalate.

The S&P BSE Sensex fell 0.39 percent to end at 41,464.61 and the NSE Nifty 50 fell 0.45 percent to close at 12,226.65. The broader markets represented by the NSE Nifty 500 Index fell 0.38 percent.

“The flare-up in the Middle East is the key reason for the fall in the market today. There could be some profit booking after the rally we have seen so far,” G Chokkalingam, founder of Equinomics Research & Advisory told Bloomberg.

Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 2.2 percent fall. On the flip side, the NSE Nifty IT Index was the top sectoral gainer, up 1.4 percent.

Sensex, Nifty Decline With Global Markets As U.S.-Iran Tensions Escalate

Fab Four Stocks Of The Day

Rites

  • Stock rose as much as 5.7 percent to Rs 317.60.
  • The company secured order worth Rs 100 crore from Bangladesh Government.
  • Project Management Consultancy work for Highways.

IIFL Securities

  • Stock rose as much as 4.9 percent to Rs 47.
  • Rare Enterprises acquires 0.9 percent stake at 42.83 each.

Interglobe Aviation

  • The stock reversed losses and rose as much as 3.1 percent to Rs 1,374
  • EGM called by RG Group comprising of Rakesh Gangwal, Shobha Gangwal and The Chinkerpoo Family Trust
  • RG Group collectively holds 36.64 percent of the paid-up share capital of the company.

NIIT Tech

  • The stock rose as much as 3.8 percent to Rs 1,640.
  • Fresh longs seen with a high open interest of 15 percent.
  • Trading volume was two times its 20-day average.

Market Check: Sensex, Nifty At Day’s Low

Indian equity benchmarks extended declines to trade at day’s low.

The S&P BSE Sensex fell 0.5 percent to 41,407 and the NSE Nifty 50 fell 0.59 percent to 12,210. The broader markets represented by the NSE Nifty 500 Index fell 0.51 percent.

Stocks Moving On Heavy Volumes

Hathway Cable & Datacom

  • Stock swung from a gain of as much as 10.36 percent to fall as much as 2.5 percent.
  • Trading volume was more than 80 times its 20-day average.

Sharda Cropchem

  • Stock rose as much as 13.8 percent to Rs 319.95.
  • Trading volume was more than 20 times its 20-day average.

HAL

  • Stock swung from a fall of as much as 1.6 percent to gain as much as 2.9 percent.
  • Trading volume was more than 20 times its 20-day average.

Zensar Technologies

  • Stock rose as much as 12.3 percent to Rs 202.40.
  • Trading volume was almost nine times its 20-day average.

Bloomberg Exclusive: Suzlon Said To Offer To Recast Debt If Lenders Take 68% Discount

  • Suzlon Energy will offer Indian lenders a proposal to restructure debt at a 68% discount, after an assessment by its rating company
  • Suzlon plans to meet creditors next week to discuss the proposal

Source: People Familiar With The Matter

Shares of Suzlon Energy hit their upper circuit of 20 percent at Rs 2.70.

Sensex, Nifty Decline With Global Markets As U.S.-Iran Tensions Escalate

Global Markets Update: U.S. Stock Futures Decline On Middle East Woes

The risk-on sentiment that ushered in the new year took a hit on Friday as tension between the U.S. and Iran escalated, sinking stocks and American equity futures and buoying haven assets including gold, the yen and Treasuries.

  • The Stoxx Europe 600 Index slid as almost every industry sector retreated.
  • Gold rallied and West Texas oil jumped as much as 4.4 percent.

Get your daily fix of global markets here.
Source: Bloomberg

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