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Post Session: Sensex slides 363 pts, Nifty halts 5-day rally, ends below 10,800

Share Source By

Dion Global

02 Jan 2019

Indian equity indices have ended the session over 1 per cent lower on Wednesday driven by losses in heavyweight stocks such as Reliance Industries, HDFC and HDFC Bank amid weakness in the Asian markets. The day began on a lower note as weak handover from Asian markets dragged indices lower. Overseas, European shares fell as negative sentiment took over. Weak global cues, dip in GST collections and fall in auto stocks weighed on equities on Wednesday. A depreciating rupee also added to the woes of investors. At corporate front, IT major Infosys is set to announce its results for December quarter on January 11, 2019, the company has said. The company put up a good show during Q2 as it reported numbers above analyst estimates helped by large deal wins.

Among individual stocks, the shares of Eicher Motors slipped 9 percent after company reported weak motor cycle numbers for the month December 2018.Also, Shares of cash-strapped airline Jet Airways fell 6.16 per cent to end at Rs 264 apiece on the BSE after the company defaulted on the debt payments to banks.

The 30-benchmark indices closed at 35891.52 down by -363.05 points or by -1 per cent and then NSE Nifty was at 10792.5 down by -117.6 points or by -1.08 per cent. The BSE Sensex touched intraday high of 36236.7 and intraday low of 35734.01 The NSE Nifty touched intraday high of 10895.35 and intraday low of 10735.05.

Sun Pharmaceutical Industries Ltd. (Rs. 440.30,+1.66%), Tata Consultancy Services Ltd. (Rs. 1923.15,+1.09%), Asian Paints Ltd. (Rs. 1381.55,+0.71%), Infosys Ltd. (Rs. 669.30,+0.70%), YES Bank Ltd. (Rs. 184.65,+0.22%) were among the top gainers of BSE Sensex. Vedanta Ltd. (Rs. 193.10,-4.48%), Tata Steel Ltd. (Rs. 493.85,-4.21%), Mahindra & Mahindra Ltd. (Rs. 741.50,-4.15%), Tata Motors Ltd. (Rs. 90.05,-3.22%), Tata Motors Ltd. (Rs. 168.55,-2.91%) remained among the top losers of the BSE Sensex.

In sectors gaining indices, BSE IT index was at 14182.96 up by 40.1 points or by 0.28%. Kellton Tech Solutions Ltd. (Rs. 48.95,+17.95%), D-Link (India) Ltd. (Rs. 78.25,+8.08%), Cerebra Integrated Technologies Ltd. (Rs. 30.30,+1.85%), Datamatics Global Services Ltd. (Rs. 115.60,+1.76%), Tanla Solutions Ltd. (Rs. 31.20,+1.63%). Also, BSETECk index was at 7102.55 up by 2.43 points or by 0.03%. Navneet Education Ltd. (Rs. 107.60,+1.13%), Tata Consultancy Services Ltd. (Rs. 1923.15,+1.09%), Infosys Ltd. (Rs. 669.30,+0.70%), Cyient Ltd. (Rs. 621.85,+0.59%), Jagran Prakashan Ltd. (Rs. 116.00,+0.39%) accompanied the list.

Downward trend was seen in BSE Metal index was at 11346.62 down by -405.39 points or by -3.45%. JSW Steel Ltd. (Rs. 288.70,-4.89%), Vedanta Ltd. (Rs. 193.10,-4.48%), Tata Steel Ltd. (Rs. 493.85,-4.21%), Hindalco Industries Ltd. (Rs. 214.40,-3.77%), Jindal Steel & Power Ltd. (Rs. 158.05,-2.80%). Followed by BSE Auto index was at 20103.45 down by -622.88 points or by -3.01%. Eicher Motors Ltd. (Rs. 21164.05,-8.71%), TVS Motor Company Ltd. (Rs. 535.00,-5.34%), Mahindra & Mahindra Ltd. (Rs. 741.50,-4.15%), Bharat Forge Ltd. (Rs. 493.50,-3.42%), Tata Motors Ltd. (Rs. 168.55,-2.91%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2886 , shares advanced were 1036 while 1660 shares declined and 190 were unchanged.