Weakness across sectors - led by automobile, metal and pharmaceutical shares - dragged the markets lower
Domestic stock markets fell on Friday amid volatile trade, a day after benchmark indices rose more than 1 per cent each. The S&P BSE Sensex index rose as much as 117.63 from the previous close to touch 39,107.37 on the upside, but only to remain positive for the day briefly before breaking 324.77 points from there to hit 38,782.60 at the session's weakest level. Weakness across sectors - led by automobile, metal and pharmaceutical shares - dragged the markets lower. The broader NSE Nifty benchmark slid as much as 87.8 points from an intraday high of 11,593.60 to hit 11,505.80 at the weakest level of the day. A majority of stocks on the 50-scrip Nifty index stayed in the negative zone for the most part of the day.
Here are highlights of the movement in domestic share markets (Sensex and Nifty) on September 27:
Sensex Ends Over 150 Points Lower, Nifty Holds 11,500
The Sensex ended 167.17 points - or 0.43 per cent - lower at 38,822.57 and the Nifty settled at 11,512.40, down 58.80 points - or 0.51 per cent - from the previous close.
Top Nifty Losers
- Vedanta: -5.69%
- Yes Bank: -5.00%
- Indusind Bank: -4.92%
- Tata Steel: -4.70%
- Zee Entertainment: -4.64%
Top Nifty Gainers
- Bharti Airtel: +2.89%
- Bajaj Finance: +1.61%
- ITC: +1.36%
- Bajaj FInserv: +1.13%
- Kotak Mahindra Bank: +0.97%
All Sectoral Indexes End Lower On NSE
All the 11 sector gauges compiled by NSE ended lower led by the Nifty Metal index's 2.64 per cent fall. Nifty Auto, Nifty Realty, Nifty Media, Nifty Pharma and Nifty PSU Bank index's 0.91-2.06 per cent each.
All the 11 sector gauges compiled by NSE ended lower led by the Nifty Metal index's 2.64 per cent fall. Nifty Auto, Nifty Realty, Nifty Media, Nifty Pharma and Nifty PSU Bank index's 0.91-2.06 per cent each.
| Index Watch | |
|---|---|
| Nifty Metal | 2.64% |
| Nifty Realty | -2.28% |
| Nifty Pharma | -2.06% |
| Nifty Media | -1.74% |
| Nifty Auto | -1.38% |
| Nifty PSU Bank | -0.91% |
| Nifty Private Bank | -0.73% |
| Nifty IT | -0.5% |
| Nifty Bank | -0.42% |
| Nifty Financial Services | -0.04% |
| Nifty Fast-Moving Consumer Goods | -0.01% |
Metal, Auto, Realty Sectors Worst Hit
Only two out of the 19 sectoral indices on the Bombay Stock Exchange moved higher. Metal, auto and realty sectors were the worst hit.
Index Watch
| Index | Change |
|---|---|
| S&P BSE Fast Moving Consumer Goods | +0.35% |
| S&P BSE Energy | +0.33% |
| S&P BSE Consumer Durables | -0.04% |
| S&P BSE Power | -0.05% |
| S&P BSE Information Technology | -0.06% |
| S&P BSE Teck | -0.18% |
| S&P BSE Finance | -0.25% |
| S&P BSE Utilities | -0.39% |
| S&P BSE Oil & Gas | -0.42% |
| S&P BSE Telecom | -0.54% |
| S&P BSE BANKEX | -0.62% |
| S&P BSE Consumer Discretionary Goods & Services | -0.82% |
| S&P BSE Healthcare | -0.93% |
| S&P BSE Capital Goods | -1.01% |
| S&P BSE Industrials | -1.05% |
| S&P BSE Basic Materials | -1.36% |
| S&P BSE Auto | -1.49% |
| S&P BSE Realty | -1.71% |
| S&P BSE Metal | -3.03% |
Maruti Suzuki Lowers Baleno RS Price By Rs 1 Lakh
Maruti Suzuki announced a reduction of Rs 1 lakh in the ex-showroom price of its compact model Baleno RS. The country's largest carmaker also reiterated a reduction of Rs 5,000 in the prices of select models with effect from September 25.
Shares in Maruti Suzuki fell as much as 1.76 per cent on Friday amid a selloff across most sectors. At 1:21 pm, the Maruti Suzuki stock traded 0.89 per cent lower at Rs 6,799.30 apiece on the BSE, underperforming the benchmark Sensex index which was down 0.14 per cent.
Rupee Edges Higher Against Dollar
The rupee edged higher against the US dollar to touch 70.81 at the day's strongest point. After opening lower at 70.96, the rupee gained by as much as 15 paise from that level during the session. In afternoon, it was last seen trading at 70.83 against the greenback, as against its previous close of 70.88.
The rupee edged higher against the US dollar to touch 70.81 at the day's strongest point. After opening lower at 70.96, the rupee gained by as much as 15 paise from that level during the session. In afternoon, it was last seen trading at 70.83 against the greenback, as against its previous close of 70.88.
Sensex Down 120 Points, Nifty Below 11,550; Vedanta, ONGC Top Losers
At 12:37 pm, the Sensex traded 120.19 points - or 0.31 per cent - lower at 38,869.55 while the Nifty was at 11,526.75, down 44.45 points - or 0.38 per cent - from its previous close.
Thirty seven stocks on the broader index at the time traded in the negative zone, with Vedanta, ONGC, Tata Motors and Tata Steel - trading between 3.91 per cent and 5.51 per cent lower - being the worst hit.
Auto Stocks Fall; Motors Worst Hit
The Nifty Auto index - comprising shares in manufacturers of cars, motorcycles, heavy vehicles, auto ancillaries and tyres - fell as much as 1.72 per cent during the session. Among prominent laggards was Tata Motors, declining 5.06 per cent to an intraday low of Rs 118.20 apiece on the NSE.
The Nifty Auto index - comprising shares in manufacturers of cars, motorcycles, heavy vehicles, auto ancillaries and tyres - fell as much as 1.72 per cent during the session. Among prominent laggards was Tata Motors, declining 5.06 per cent to an intraday low of Rs 118.20 apiece on the NSE.
The S&P BSE Auto index fell as much as 1.74 per cent.
Tata Motors, ONGC, Vedanta Top Laggards
Top Nifty Gainers/Losers
Top Nifty Gainers/Losers
| Stock | Change |
|---|---|
| ITC | 2.20% |
| Bajaj Finance | 1.47% |
| Bajaj Finserv | 1.13% |
| Reliance Industries | 1.06% |
| Indian Oil | 0.86% |
| Tata Steel | -2.34% |
| Vedanta | -2.86% |
| Zee Entertainment | -3.03% |
| ONGC | -3.06% |
| Tata Motors | -3.45% |
Top Sensex Gainers/Losers
| Stock | Change |
|---|---|
| Yes Bank | 2.74% |
| ITC | 2.16% |
| Bajaj Finance | 1.55% |
| Reliance Industries | 0.83% |
| HDFC | 0.67% |
| Asian Paints | -1.42% |
| Tata Steel | -2.55% |
| Vedanta | -3.04% |
| ONGC | -3.07% |
| Tata Motors | -3.73% |
Consumer Goods Stocks Provide Support To Markets
Losses in auto and metal shares dragged the markets lower however gains in consumer goods shares provided some support. Eight out of the 11 sectoral indices on the National Stock Exchange moved in the negative zone.
Losses in auto and metal shares dragged the markets lower however gains in consumer goods shares provided some support. Eight out of the 11 sectoral indices on the National Stock Exchange moved in the negative zone.
Index Watch
| Index | Change |
|---|---|
| Nifty Realty | -1.49% |
| Nifty Metal | -1.03% |
| Nifty Auto | -1.02% |
| Nifty Pharma | -0.88% |
| Nifty Media | -0.42% |
| Nifty Private Bank | -0.23% |
| Nifty IT | -0.14% |
| Nifty Bank | -0.04% |
| Nifty PSU Bank | 0% |
| Nifty Financial Services | 0.35% |
| Nifty Fast Moving Consumer Goods | 0.48% |
Sensex, Nifty Turn Flat Amid High Volatility
The session was marked with high volatility with the NSE's India VIX index rising as much as 2.91 per cent. The India VIX index gauges the market's expectation of volatility over the near term. Market breadth was largely neutral, with an advance-decline ratio of about 1:1. On the BSE, 778 stocks traded higher while 681 moved lower. On the NSE, 757 stocks advanced, 792 declined while 554 remained unchanged.
Sensex, Nifty Off Early Lows
The Sensex index rebounded as much as 281.22 points from the lowest level touched in first few minutes of trade to hit 39,096.01 on the upside. The broader Nifty benchmark recovered 75.55 points from the intraday low of 11,516.80 to touch 11,592.35. ITC and NTPC were the top percentage gainers on both indices.
The Sensex index rebounded as much as 281.22 points from the lowest level touched in first few minutes of trade to hit 39,096.01 on the upside. The broader Nifty benchmark recovered 75.55 points from the intraday low of 11,516.80 to touch 11,592.35. ITC and NTPC were the top percentage gainers on both indices.
Sensex Down Over 100 Points, Nifty Below 11,550
At 9:20 am, the Sensex traded 111.66 points - or 0.29 per cent - lower at 38,878.08 while the Nifty was down 35.85 points - or 0.31 per cent - at 11,535.35. Top laggards on the 50-scrip index at the time were Yes Bank, Tata Motors, Nestle, Tata Steel and GAIL, trading between 1.86 per cent and 4.02 per cent lower.
At 9:20 am, the Sensex traded 111.66 points - or 0.29 per cent - lower at 38,878.08 while the Nifty was down 35.85 points - or 0.31 per cent - at 11,535.35. Top laggards on the 50-scrip index at the time were Yes Bank, Tata Motors, Nestle, Tata Steel and GAIL, trading between 1.86 per cent and 4.02 per cent lower.
ICICI Bank, Kotak Bank, Reliance Industries and IndusInd Bank were the top drags on the Sensex.
Sensex, Nifty Open On A Mixed Note
The S&P BSE Sensex index opened 13.39 points - or 0.03 per cent - higher at 39,003.13, whereas the broader NSE Nifty benchmark started the day at 11,556.35, down 14.85 points - or 0.13 per cent - from the previous close.
On Thursday, the Sensex and Nifty had ended 1.03 per cent and 1.15 per cent higher respectively, amid buying across sectors barring IT stocks.
Sensex, Nifty Mixed In Pre-Open Market
In the pre-opening session, the Sensex added as much as 156.83 points to touch 39,146.57 on the upside, before declining as much as 292.79 points from that level to 38,853.78. At 9:06 am, the Sensex was up 25.31 points - or 0.06 per cent - at 39,015.05 whereas the Nifty was down 19.35 points - or 0.17 per cent - at 11,551.85.
In the pre-opening session, the Sensex added as much as 156.83 points to touch 39,146.57 on the upside, before declining as much as 292.79 points from that level to 38,853.78. At 9:06 am, the Sensex was up 25.31 points - or 0.06 per cent - at 39,015.05 whereas the Nifty was down 19.35 points - or 0.17 per cent - at 11,551.85.
There Is No Liquidity Crisis, Says Finance Minister Nirmala Sitharaman
There are no liquidity-related problems being faced by private sector banks and non-banking financial companies (NBFCs), Finance Minister Nirmala Sitharaman said on Thursday after meeting representatives of banks and other financial institutions.
There are no liquidity-related problems being faced by private sector banks and non-banking financial companies (NBFCs), Finance Minister Nirmala Sitharaman said on Thursday after meeting representatives of banks and other financial institutions.
"Sum and substance of what I heard was that there is no liquidity crisis," the Finance Minister said at a press conference. Her meeting with the banking industry comes within a month of the government announcing a slew of measures to revive the economy.
Asian Stocks Down, On Course For Weekly Loss
Shares in other Asian markets declined, with MSCI's broadest index of Asia-Pacific shares outside Japan slipping 0.09 per cent and Japan's Nikkei sliding 0.54 per cent.
Asian stocks were on course for a second straight week of losses as the release of a whistleblower complaint against US President Donald Trump heightened uncertainties about the global economy, already reeling from the China-US trade war. MSCI's broadest index of Asia-Pacific shares barring Japan has declined 1.4 per cent so far this week.
SGX Nifty Futures Indicate Lower Opening For Domestic Markets
Domestic stock markets are likely to start Friday's session on a lower note, amid weakness in Asian peers amid global growth concerns.
At 8:36 am, the SGX Nifty futures on Singapore Exchange were down 26.50 points - or 0.23 per cent - at 11,603.50. The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty in India.
