Sensex, Nifty Log Losses For The First Time In 2022
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India's stock benchmarks snapped a four-day winning streak, dragged by losses in information technology, banking, energy and realty stocks. This is the first time the S&P BSE Sensex and NSE Nifty have closed a session with losses in 2022.
The Sensex fell 1.03% to 59,601.84. The Nifty also declined by similar magnitude to 17,745.90.
JSW Steel Ltd. had the largest drop, falling 3.0%. Today, 34 of 50 shares fell, while 15 rose.
The broader indices outperformed their larger peers with both the S&P BSE MidCap and S&P BSE SmallCap closing little changed. Thirteen of the 19 sectoral indices compiled by BSE Ltd. declined with S&P BSE Information Technology and S&P BSE Realty shedding nearly 1.5%.
The market breadth was skewed in the favour of bulls. About 2,000 stocks advanced, 1,389 stocks declined and 83 remained unchanged.
Zee Learn Shares Jump 20% Amid Report That Byju's Is Looking To Buy Majority Stake In Zee Learn
Shares of Zee Learn Ltd. rose 20% to Rs 19.6 apiece after CNBC-TV18 reported that Byju's is looking to buy majority stake in the company.
Talks between Byju's and Zee Learn are at an early stage, reports CNBC-TV18, citing people familiar with the matter.
Deal could be a mix of preferential issue and sale of stake by holders.
CNBC-TV18 did not receive a response from the companies.
Sugar Stocks Advance
Shares of sugar companies advanced with Balrampur Chini, Triveni Engineering hitting record highs.
Industry group ISMA said that sugar production grew 4% YoY in the quarter ended December, on Monday.
Shares of sugar companies have risen between 13-25% over the past three sessions.
CG Power Has 1.5 Million Shares Change Hands
CG Power & Industrial Solutions Ltd. has 1.5 million shares change hands in a large trade.
Details of the buyers and sellers are not known immediately.
Capricorn Energy Expects To Pay Special Dividend In Early 2022
Capricorn Energy reiterated that it expects to pay out a special dividend in early 2022 after it receives a tax refund from India.
Capricorn is working with Indian government to expedite the refund of approximately Rs 7,900 crore.
Capricorn is recently renamed from Cairn Energy