Sensex, Nifty Take A Breather From Record Run Ahead Of RBI Policy
Closing Bell: Sensex, Nifty Take A Breather From Record Run Ahead Of RBI Policy
Indian equity benchmarks ended lower today and took a breather from a rally to record highs ahead of Reserve Bank of India’s policy decision Thursday.
The S&P BSE Sensex closed 184 points or 0.46 percent lower at 40,083.54 and the NSE Nifty 50 ended at 12,021.65, down 0.55 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.47 percent lower.
The 31-stock index and the 50-share gauge had clocked record highs of 40,312.07 and 12,103.05 respectively yesterday. The markets will be shut Wednesday on account of Id-Ul-Fitr.
The market breadth was tilted in favour of sellers. About 990 stocks declined and 789 shares advanced on National Stock Exchange.
Nine out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty IT Index’s 1.6 percent fall. On the flipside, the NSE Nifty PSU Bank Index was the top sectoral gainer, up 0.25 percent.
Stocks Moving On Heavy Volumes
- Stock rose as much as 3.3 percent to Rs 117.50.
- Trading volume was almost 11 times its 20-day average.
GE Power India
- Stock rose as much as 5.4 percent to Rs 929.
- Trading volume was more than nine times its 20-day average.
- Stock rose as much as 10.5 percent to Rs 40.70.
- Trading volume was more than quadruple its 20-day average.
Block Deal Alert: Mahindra Logistics
About 48 lakh shares of Mahindra Logistics changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Adani Ports Announces Rs 1,960-Share Buyback
Adani Ports & Special Economic Zone Ltd. will buy back as much as Rs 1,960 crore worth of its shares.
The company will repurchase 3.92 crore shares (or 1.89 percent of equity) at Rs 500 apiece, according to its stock exchange notification today. The price is at a premium of 17.6 percent from the current market price.
The company also announced dividend of Rs 0.2 per share.
Shares of Adani Ports pared losses and rose as much as 1.2 percent to Rs 429.85 after the announcement.
Axis Bank Hits Record High
Shares of Axis Bank erased losses and rose as much as 1.6 percent to hit an all-time high at Rs 826.25.