Indices end in red after scaling new intra-day high
Reliance Communications share continued its rally with closing 34.74% higher
After hitting day's high of 34137.97 points, Sensex ended in the negative territory, while benchmark Nifty slipped to 10,490.75 points, down 0.39%.
Markets fell today after business news channel ET Now reported that the government could borrow more than what it has currently budgeted for the remainder of the fiscal year ending March.
However, Sun Pharma (up 6.89%), Tech Mahindra (up 1.59%), DrReddy's (+1.71%) Aurobindo Pharma (0.99%), Wipro (1.75 (up 0.58%) helped contain further fall in the benchmark indices.
In the morning trade, shares of Sun Pharma, ONGC, NTPC, YES Bank, Reliance Industries, NTPC and Dr Reddy's helped the 30-share Sensex maintain its 34,000 mark. The index opened at 34,087.32 over yesterday's close of 34,010.61, while Nifty opened flat.
At the close, ONGC, NTPC, YES Bank, Reliance Industries and NTPC slipped into the negative territory.
Reliance Communications share continued its rally with closing 34.74% higher. The stock yesterday closed up 30.78% on the BSE after Anil Ambani said that the total debt of the company would come down by Rs 39,000 crore and the company will close all the transactions by January-March 2018.
Anil Ambani group firms Reliance Naval (up 3.18% ) and Reliance Power (up 2.78% ) continued with their rally, while Reliance Infrastructure, Reliance Capital, Reliance Home Finance slipped into the negative territory at market close.
In the morning trade, Reliance Capital, Reliance Home Finance saw a lot of interest from buyers and they were up between 0.70% and 2% on the BSE.
Healthcare, power and oil stocks were the top performers in the morning trade. At 10.30 am, Healthcare index was up 1.66% at 14785.75. Mangalam Drugs & Organics Ltd (up 7.06%), Wockhardt Ltd (5.93%), Morepen Laboratories (4.33%), Gufic Biosciences (up 4.39%), Sun Pharma (up 4.01), Divis Laboratories (up 4.01%), Alembic Ltd (2.86%), Panacea Biotec (up 3.40%), Fortis Healthcare (up 3.39%) were the best performers in the index.
Almost all the indices on the BSE and NSE ended lower, with BSE Sensex next 50, BSE Smallcap, BSE Midicap indices falling between 0.28% to 1%. Only BSE Healthcare index was 1.84% up at 14811.38.
Telecom companies' stocks like Bharti Airtel, Tata Teleservices (Maharashtra) Ltd, Idea Cellular and MTNL ended in the red after staying flat through the day. BSE telecom, which was up 2.28% yesterday, opened flat today. Realty and metals stocks, which were the Sensex drivers yesterday, opened flat.
In the Nifty50 index, 13 stocks advanced and 37 declined. IOC, Bharti Airtel, ICICI Bank, Ultratech Cement, Bosch LTD were the losers. Sensex ended at 33,911.81, down 0.29%.
Investors remained cautious ahead of last F&O expiry of the year. Most Asian markets gained with oil and copper prices clocking multi-year highs.
US stocks closed lower, as shares of Apple tumbled, offsetting gains in energy stocks as oil prices hit their highest in more than two years.