Sensex Ends Lowest Since February 2017; 27 Nifty Stocks At 52-Week Low
Catch all live updates on share prices, index moves, corporate announcements and more from the Sensex and Nifty, today.
KEY HIGHLIGHTS
Markets At Close
- Nifty ends 2.42 percent lower at 8,263, lowest since January 2017
- Nifty March futures see 5.9 percent in open interest and end with discount of 52.4 points
- Nifty Bank ends 2.41 percent lower at 20,083, the lowest since February 2017
- Nifty Bank March futures see open interest shedding of 4 percent and end at discount of 123.5 points
- All sectoral indices end with losses
- Midcap and Smallcap index end with losses of 4.3 percent
- India Volatility Index ends 12.5 percent higher at 71.95, highest since November 2008
- 319 stocks end with gains while 1,245 stocks end with losses
BloombergQuint Market Wrap
The Sectoral Picture
Closing Bell: Fourth Day Of Losses Benchmarks
Indian equity markets saw no respite from the selling pressure and ended with declines for the fourth day in a row, although witnessing a minor recovery from the lowest point of the day.
The S&P BSE Sensex ended with cuts of 2 percent at 28,288. 23 out of the 30 constituents ended the day with losses.
The NSE Nifty 50 index ended 2.42 percent lower at 8,263, the lowest level since January 9, 2017. The index recovered nearly 400 points from the day's low of 7,832. 40 out of the 50 stocks ended with declines while 27 stocks ended at a 52-week low.
All Sectoral Indices ended with losses, with Nifty Auto index being the top laggard.
Market breadth remained adverse with 1,245 stocks ending with losses and only 319 stocks ending the day with gains.
Godrej Group Stocks At 52-Week Low
Godrej Industries
- Down for seven out of last nine trading sessions
- Down 25 percent in last nine sessions
- Trades at lowest level since March 2016
- Market cap erosion of Rs 3,651 crore in nine sessions
Godrej Properties
- Down for 10 out of last 12 trading sessions
- Down 35 percent in last 12 sessions
- Trades at lowest since January 2019
- Market cap erosion of Rs 9,040 crore in last nine sessions
Godrej Consumer Products
- Down for 8 out of last 9 trading sessions
- Down 26 percent in last 9 sessions
- Trades at lowest since December 2016
- Market cap erosion of Rs 17,024 crore in last nine sessions
Godrej Agrovet
- Down for 8 out of last 9 trading sessions
- Trades at all-time low
- Down 34 percent in last nine sessions
- Market cap erosion of Rs 3,066 crore
Emami Approves Buyback, Declares Dividend
Emami Ltd. approved a share buyback of 64.69 lakh shares for a total amount not exceeding Rs 194 crore, as per an exchange fling. The buyback will be carried out at a price not exceeding Rs 300 per equity share, a substantial premium to the current price.
The Maximum Buyback size represents 10 percent and 9.8 percent of the aggregate of the total paid up capital and free reserves of the company.
The board has also declared a second interim dividend of Rs 2 per share. Record date for the same has been set as March 27, 2020.
The stock currently trades 3 percent lower at Rs 183.50 on the National Stock Exchange.
