Moneycontrol
Last Updated : Dec 31, 2018 07:15 PM IST | Source: Moneycontrol.com

An evening walk down Dalal Street | Curtains down on 2018! Sensex closes flat, Nifty gives up 10,900

At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or 0.02% at 10862.50.

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It’s a rather somber end to the market on the last trading session of 2018. Mixed Asian and European cues kept the market in check. The Nifty ended 2018 below 10,900.

Weakness was visible among index heavyweights, which dragged the indices. Meanwhile, among sectors, auto, metals and pharmaceuticals were all trading in the green.

The day began with a gap-up opening, as indicated by trends on SGX Nifty as well as Asian indices. But volatile moves in the subsequent hours ensured that D-Street saw erasing of all its gains.

Selloff in financials, among others weighed on the indices. Automobiles, too, gave up all their gains.

At the close of market hours, the Sensex was down 8.39 points or 0.02% at 36068.33, and the Nifty up 2.60 points or 0.02% at 10862.50. The market breadth was narrow as 1495 shares advanced, against a decline of 1095 shares, while 164 shares were unchanged.

Tata Steel, Vedanta, and JSW Steel were the top gainers, while Hero MotoCorp, Axis Bank, Bharti Airtel and Bharti Infratel lost the most.

Stocks in the News

NCC shares rallied 2 percent after global investment firm PhillipCapital has maintained buy call on the stock with a target price of Rs 145, implying nearly 68 percent potential upside.

Cadila Healthcare shares gained a percent after Zydus received approval from the US health regulator for anti-acne drug.

DCB Bank advanced a percent on Monday after CRISIL upgraded its credit rating to AA-/Stable from A+/Stable for the Basel III Complaint Tier II bonds programme of Rs 150 crore by the bank.

Bharat Heavy Electricals shares 1 percent after the company bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal.

Bharat Financial Inclusion and CreditAccess Grameen rallied 1 percent after the completion of direct assignment transaction.

Global Markets

Asian stocks were mixed amid mixed global cues. Hang Seng index rose 1.34 percent to finish the trading year at 25,845.70.

European stocks were slightly higher on last day of 2018 as major stocks across the world look to record calendar year declines. The FTSE 100 was down 0.15 percent, while the French CAC is up 0.44 percent.
First Published on Dec 31, 2018 03:52 pm
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