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Indian equity benchmarks ended marginally higher after a topsy-turvy session, thus, recovering slightly from the worst single-day rout in nearly five years.
The S&P BSE Sensex and the NSE Nifty 50 ended little changed at 35,697.40 and 10,458.40 respectively.
Earlier today, the 30-stock index swung from a fall of as much as 1.05 percent and rose as much as 1.08 percent, while the 50-share gauge swung from a fall of as much as 1.12 percent and rose as much as 0.9 percent.
The market breadth was tilted in favour of sellers. About 1,036 stocks declined and 774 shares advanced on National Stock Exchange.
Six out of 11 sectoral gauges compiled by the NSE ended lower, led by the NSE Nifty PSU Bank Index’s 3.1 percent fall. On the flipside, the NSE Nifty Media Index was the top sectoral gainer, up 2 percent.
About 16 lakh shares of HDFC Bank changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
RBL Bank
Pidilite Industries
Lakshmi Vilas Bank
IRB Infra Developers
Triveni Turbine
KPR Mill
Mahindra CIE Automotive
Future Retail
Welspun Corp
Nifty’s 10,500 call option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on March 12, fell 36.57 percent to Rs 85.35. About 9.66 lakh shares were added to the open interest which stood at over 15.69 lakh shares.
Wednesday brought another day of reversals in many major markets, with U.S. stock futures dropping, the dollar weakening and Treasury yields falling after surging a day earlier.
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Source: Bloomberg
PNC Infratech received Letters of Award from National Highways Authority of India for worth Rs 2,052 crore for two projects, according to its media statement to the exchanges.
The construction of this project is to be completed in 30 months, the statement added.
GAIL India Ltd. is the top loser on the Nifty 50 index today. The stock fell as much as 9.16 percent to Rs 91.25 on the National Stock Exchange. This is the lowest level for the gas player since March 2016.
The stock has declined for nine out of the last 13 trading sessions, during which it has declined almost 24 percent. The last 13 sessions has also seen an erosion of Rs 12,561 crore in terms of market capitalisation.
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The company won a major offshore pipes supply contract in Australia for the Barossa offshore Development project. The contract comprises manufacturing and supply of 270 kilometers of pipes for critical offshore application.
The current order book for the company is now at 1,139 KMT after considering order execution up to February 2020, as per the company's press statement.
The stock fell as much 18.84 percent to Rs 101. This is the third straight day of declines for the company. The stock has declined 40 percent in the last three days.
The stock surged as much as 14.89 percent, the most since September 2019 to Rs 239.20 on the National Stock Exchange.
10 lakh shares of the FMCG company changed hands in a single large trade on the National Stock Exchange, as per Bloomberg data. Buyers and sellers were not immediately known.
Post this trade, another 14.3 lakh shares of the company changed hands in a second large trade.
The stock currently trades at Rs 173.85, down 1.9 percent on the National Stock Exchange. This is the lowest level for the stock since October 2012.
10 lakh shares of Reliance Industries Ltd. changed hands in a single large trade on the National Stock Exchange, as per Bloomberg data. Buyers and sellers were not immediately known.
Post the large trade, another 15 lakh shares of the company changed hands in a single large trade, as per Bloomberg data.
The stock currently trades 5 percent higher at Rs 1,170, snapping a four-day losing streak. It is also contributing 51 points to the Nifty upside.
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