Sensex ends 145 points lower, Nifty manages to hold 10,600; IT stocks drag
19 February 2019
Market at close: Bears dragged the Nifty below 10,600 during last hour trading but managed to close just above the 10,600 level.
At the end, Sensex was down 145.83 points at 35352.61, while Nifty was down 36.60 points at 10604.40. About 1360 shares have advanced, 1169 shares declined, and 122 shares are unchanged.
Wipro, TCS, IndusInd Bank, NTPC and Infosys were the top losers on the Nifty while top gainers include Vedanta, Grasim Industries, BPCL, Zee Entertainment, and JSW Steel.
IT space was a major drag among the sectors followed by pharma and energy, while buying was seen in FMCG, metal and PSU bank index.
HIL start commercial production: The company has commenced the second phase production of its dry mix plant at its plant located at Jhajjar, Uttar Pradesh. The total additional installed capacity is 1,05,000 MT per annum.
TCS partners Nanoheal: Tata Consultancy Services announced a partnership with Nanoheal, a predictive workspace automation platform provider, to offer enterprises cognitive, self-healing end-user device management solutions.
Sensex Off Day's High
Benchmark indices were off day's high in afternoon. ICICI Bank, Reliance Industries and ITC stocks continued to support the market whereas IT stocks caught in bear trap.
The 30-share BSE Sensex was up 144.63 points at 35,643.07 and the Nifty50 gained 43.70 points at 10,684.70. The market breadth was positive as about three shares advanced for every two shares falling on the BSE.
IT Search Operation at Divis Labs Concluded
The officials of Income-Tax Department conducted search at the company's Head Office, Research Centre and Manufacturing sites from February 14 to 18, 2019.
Company said it has extended full co-operation to the officials during the search and provided all the information sought.
The search operation concluded on February 18 and no irregularities have been found, it added.
Divi's Labs to exchanges: Officials of Income-Tax Department conducted search at the Company's Head Office, Research Centre and Manufacturing sites from 14th February 2019 to 18th February 2019 under Section 132 of the Income-Tax Act.
Company has extended full co-operation to the officials during the search and provided all the information sought. The search operation concluded on 18th February 2019 and no irregularities have been found.
Market Check: Benchmark indices holding on to the gains with Nifty trading above 10650 level.
The Sensex is up 116.36 points at 35614.80, while Nifty is up 32.50 points at 10673.50. About 1315 shares have advanced, 836 shares declined, and 101 shares are unchanged.
Market Update: Sensex is up 163.47 points or 0.46% at 35661.91, and the Nifty up 41.20 points or 0.39% at 10682.20. About 1201 shares have advanced, 560 shares declined, and 79 shares are unchanged.
Bharti Airtel, Bajaj Finance and ICICI Bank are the biggest index gainers whereas IT majors Infosys and TCS are the biggest losers.
Buzzing: Shares of Emami rose 5 percent in the early trade on Tuesday after company promoters divested their stake in the company.
The promoters of Emami Group announced a sale of 10 percent stake in Emami, raising approximately Rs 1600 crore, as per company release.
Market Opens: It is a flat start for the Indian Indices with Nifty hovering around 10650 level.
The Sensex is up 51.90 points at 35550.34, while Nifty is up 15.40 points at 10656.40. About 497 shares have advanced, 249 shares declined, and 37 shares are unchanged.
Gainers include Jet Airways, Ambuja Cements, Dr Reddy's Lab, Sun Pharma, Grasim, JSW Steel, Hindalco, Emami, while losers are Indiabulls Housing, Wipro, HDFC, Adani Port and IDFC.
Market at pre-open: Benchmark indices are mixed in in the pre-opening trading with Nifty holding above 10,600.
At 09:02 hrs IST, the Sensex is up 96.03 points or 0.27% at 35594.47, and the Nifty down 13.70 points or 0.13% at 10627.30.
Emami, Tata Motors, Yes Bank are trading with marginal gains in the pre-opening session.
Money market shut today on account of Chatrapati Shivaji Maharaj Jayanti.
Crude update: Brent crude oil prices eased away from 2019 highs on Tuesday on caution that economic growth may dent fuel demand this year, although supply cuts led by producer cartel OPEC still meant markets were relatively tight.
Asian markets firm: Asian shares hovered near a four-month peak on Tuesday, supported by hopes that Sino-US trade talks were making positive progress and expectations of policy stimulus from central banks.
SGX Nifty: Trends on SGX Nifty indicate a flat opening for the broader index in India, a gain of 22.50 points or 0.21 percent. Nifty futures were trading around 10,675.50-level on the Singaporean Exchange.