Live Market: Sensex ends below 280 pts, Nifty down 91 pts; Yes Bank worst performer
Both Sensex and Nifty 50 ended on a negative note in today's trading session. The losses witnessed were more in Sensex than compared to Nifty. The 31-scrip finished at 36,841.60 lower by 279.62 points which is 0.75%, whereas Nifty 50 completed at 11,143.10 below 91.25 points which is 0.81% from the previous close.
The Sensex recovered few losses, which it recorded during the second half of trading session. The index today gave away nearly 1000 points and reached to 36,132-level which resulted in three-month low.
Both Sensex and Nifty 50 ended on a negative note in today's trading session. The losses witnessed were more in Sensex than compared to Nifty. The 31-scrip finished at 36,841.60 lower by 279.62 points which is 0.75%, whereas Nifty 50 completed at 11,143.10 below 91.25 points which is 0.81% from the previous close.
The Sensex recovered few losses, which it recorded during the second half of trading session. The index today gave away nearly 1000 points and reached to 36,132-level which resulted in three-month low.
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Auto stocks were among worst performer on BSE, as the S&P BSE AUTO index tumbled by 296.47 points or 1.26% trading at 23255.26.
Losers on the index were - Cummins India LTD at 681.80 per piece low by 5.84%, Mother son sumi system LTD at 276.85 per peice low by 4.88%, Bosch Ltd at 19885.35 per peice low by 3.95%, Appollo Tyres ltd 231.75 per piece low by 3.40%, Ashok leyland Ltd 122.95 per piece low by 2.27%
Meanwhile, gainers were: Mahindra & mahindra at 960.70 per piece soars by 1.41%, Heromotocorp Ltd at 3171.20 per piece high by 0.92%, Exide industries Ltd at 268.50 per piece high by 0.51%.
Information technology stocks were among worst performer on BSE, as the S&P BSE IT index tumbled by 245.58 points or 1.57% trading at 15393.12.
Losers on the index were -
Infibeam Avenues Ltd at 202.00 per piece low by 32.80 or 13.97%, All sec Technology LTD at 265 per piece low by 12.65%, Datamatics global service ltd at 114 per peice low by 12%, Rolta india ltd at 18.25 per piece low by 9.88%, 63Moons at 75.80 per piece low by 9.17%.
Meanwhile, gainers were: Eclerx Ltd at 1110 soars by 1.95%, Dlinkidia at 82 per piece high by 0.61%, Kelltontec ltd at 39 per piece high by 0.39%, Wipro at 333.40 per peice high by 0.20%, MIC at 2.45 per piece high by 4.49% at round 1431 hrs
BSE Sensex at 36,748.96 points slips by 1% from previous close, where as NSE at 11,111.30 per piece low by 1.04% at around 1404hrs.
Major sectors affected by it are banking stocks, as the S&P BSE Bankex was trading at 29132.53 points low by 1.63%.
Stocks that impacted this index were large cap losers namely - Yes Bank at Rs 236 per piece low by 26.19% followed by Punjab national bank at Rs 74.85 per piece low by 5.61% and Federal bank at Rs 73.10 low by 2.60%.
However, gainers were Axis bank at Rs 616.30 per piece soars by 1.53%, ICICI Bank at Rs 322.75 soars by 0.65%, SBI at RS 272.65 high by 0.46% at around 1348 hrs
Yes Bank among top losers as RBI denies Rana Kapoor 3 years of extension, Yes Bank decline over 34% on the exchange.
Meanwhile, domestic institutional investors (DIIs) made purchases worth a net of Rs 1,201.30 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 2,184.55 crore Wednesday, provisional data showed.
Rana Kapoor led Yes Bank was among the top the losers in the Sensex. It crashed 19 per cent after the RBI asked its managing director and CEO Kapoor to step down after an extended term till January 31, 2019. Other losers were Infosys, HUL and TCS, falling up to 0.46 per cent.
Sectoral indices, including metal, oil and gas, PSU, power, infrastructure, healthcare, consumer durables, FMCG, capital goods, auto and banking stocks, rose up to 1.62 per cent. Major gainers were Tata Steel, ICICI Bank, Axis Bank, Asian Paints, M&M, NTPC, Tata Motors, HDFC, ITC, Coal India, Bajaj Auto, SBI, RIL, HDFC Bank and Kotak Bank, rising up to 3.76 per cent.
Sensex rebounded on value-buying in select bluechip stocks due to easing trade war concerns in global markets. Sustained buying by domestic institutional investors and a strengthening rupee also supported the recovery. The NSE Nifty went past 11,300 to trade at 11,318.50, gaining 84.15, or 0.75 per cent.
IndusInd Bank keen on taking over IL&FS Securities
Despite financial crunch and recent irregularities in debt servicing affecting Infrastructure Leasing & Financial Services’s (IL&FS) image, IndusInd Bank is keen on moving ahead with its proposed IL&FS Securities acquisition.
Read more: IndusInd Bank keen on taking over IL&FS Securities
Top 5 stocks in focus on September 21: Yes Bank, Jet Airways to Graphite India, here are the 5 newsmakers of the day
The domestic stock market closed in red on September 19, 2018. However, there were certain stocks, like Yes Bank, Jet Airways to ITC Hotels, that came in the news after the market was closed for the day for trade and can have an impact on it on September 21, 2018.
#StockoftheDay | #YesBank के शेयर भाव में भारी गिरावट, RBI ने CEO #RanaKapoor का कार्यकाल घटाया। pic.twitter.com/7rhUTZ2APR
— Zee Business (@ZeeBusiness) September 21, 2018
#StockoftheDay | #YesBank के शेयर भाव में भारी गिरावट, RBI ने CEO #RanaKapoor का कार्यकाल घटाया। pic.twitter.com/7rhUTZ2APR
— Zee Business (@ZeeBusiness) September 21, 2018
The 30-share BSE benchmark index has gained 9 per cent so far this year. It is currently trading near 37,121 level. Markets scaled its lifetime peak this year, with the benchmark Sensex hitting its all-time high level of 38,989.65 on August 29. Experts have indicated that this year, trends in crude oil prices, domestic political dynamics, global interest rates and developments at the international trade front would be important factors impacting the equity market movement in the near term.
What has hit investor sentiment are rupee woes, high crude oil prices, unabated foreign fund outflows and escalating trade tensions between the US and China have dampened the market sentiment.
"Indian markets are facing multiple headwinds such as all-time low rupee, rise in bond yields and rise in crude oil prices leading to vulnerability of Indian macros," said Jagannadham Thunuguntla, Senior VP and Head of Research (Wealth) at Centrum Broking.
"Accentuating the volatility, we are in a politically charged up year with string of state assembly elections and 2019 Lok Sabha elections. All these factors will keep upsides of Indian markets capped," Thunuguntla added.
Outlook: "Firstly, the world financial market has to stabilize with some cure in trade and currencies volatility. Unless, if this continues we will have to absorb the real impact of trade and currency war over the next 12 months. Along with that, the global bond yield has to calm down. Only post this, India will be able to experience the real benefits of outperformance which is currently hidden under the muted performance of the world equity," said Vinod Nair, Head of Research, Geojit Financial Services.
"Strong domestic inflows and corporate earnings will be the key triggers for the market going forward," said Rahul Sharma, Senior Research Analyst, Equity99.
Anil Singhvi's Market Strategy September 21: Market is negative; Oil & Gas and FMCG are Positive
At the stock markets, benchmark domestic stocks on Thursday, September 19, 2018, closed with losses even as global markets remained positive. The S&P BSE Sensex lost 0.45 per cent or 169.45 points to 37,121.22. The Nifty 50 at the National Stock Exchange also fell 0.39 per cent or 44.55 points to 11,234.35 and the Nifty Bank lost 0.62 per cent or 164.10 points to close at 26,277.35.
Read more: Anil Singhvi's Market Strategy September 21: Market is negative; Oil & Gas and FMCG are Positive
BSE Sensex at 37,406.86 points jumps by 0.77% from the previous close, whereas NSE at 11,321.60 points high by 0.78% from previous close