Sensex, Nifty Decline For The Fifth Week In Six
An employee looks on during a special holiday trading session on the occasion of Diwali, the festival of light, inside the Bombay Stock Exchange (BSE) in Mumbai, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Sensex, Nifty Decline For The Fifth Week In Six

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Closing Bell: Sensex, Nifty Close Marginally Higher

Indian equity benchmarks closed marginally higher paced by gains in UPL anad private lenders.

The S&P BSE Sensex closed 0.1 percent higher to 37,350.33 and the NSE Nifty 50 rose 0.17 percent to 11,047.80. The broader markets represented by the NSE Nifty 500 Index gained 0.2 percent.

However, the benchmarks resumed their weekly declines as it ended lower for fifth time in six weeks.

The market breadth was tilted in favour of buyers. About 923 stocks advanced and 842 shares declined on National Stock Exchange.

Seven out of 11 sectoral gauges compiled by National Stock Exchange traded higher, led by the NSE Nifty PSU Bank Index’s 1.49 percent gain. On the flipside, the NSE Nifty Pharma Index was the only sectoral loser, down 0.77 percent.

Sensex, Nifty Decline For The Fifth Week In Six

Trent Hits Lifetime High

Shares of the Tata-group owned retail store chain rose 6.6 percent intraday to an all-time high of Rs 473.20 apiece.

The trading volume was more than three times the 20-day average for this time of the day, according to Bloomberg data. The stock advanced 26 percent in the past 12 months compared with a 1 percent fall in the Sensex.

NBFC Funding Squeeze To Hit Indian Builders Hardest, Says Fitch

  • Liquidity risks are increasing for Indian real-estate developers, as non-banking financial companies, including housing finance companies are shying away from lending to the sector.
  • NBFCs are now also shying away from refinancing maturing debt of even large, proven developers to limit concentration risk to the sector.

Source: Bloomberg

LSE Trading Delayed Due To Technical Glitch

A “trading services issue” delayed the opening for some of the biggest stocks on the London Stock Exchange, reported Bloomberg.

Markets Check: Sensex, Nifty Little Changed; Yes Bank Jumps Over 6%

Indian equity benchmarks traded subdued in afternoon trade. Yes Bank was the top gainer after it raised Rs 1,930 crore through qualified institutional placements.

The S&P BSE Sensex traded 0.1 percent higher to 37,352.90 and the NSE Nifty 50 traded flat at 11,040.60, as of 1 p.m. The broader markets represented by the NSE Nifty 500 Index rose 0.07 percent.

The Nifty Index may oscillate between a support level of 11,200 and Tuesday’s low of 10,900 in today’s trade. That’s according to Ruchit Jain, technical analyst at Angel Broking.

A directional move is expected in Nifty only if these levels (10,900-11,200) are breached.
Ruchit Jain, Technical Analyst, Angel Broking.

The market breadth was tilted in favour of sellers. About 951 stocks declined and 752 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 0.80 percent gain. On the flipside, NSE Nifty IT Index was the top loser, down 0.89 percent.

SBI Pares Loss After Block Deal

Shares of the country’s largest state-run lender pared losses and traded flat at Rs 289.65 each.

Around 64 lakh shares changed hands in a bunched trade, according to Bloomberg data. The buyers or sellers were not known immediately.

Besides, the board gives in-principle approval to explore dilution of stake in SBI Cards via initial public offer, subject to necessary approvals, according to its statement on the exchanges.

Also read: Tenure Of SBI MD Dinesh Kumar Khara Extended By Two Years

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