Moneycontrol
Last Updated : Jan 16, 2019 05:35 PM IST | Source: Moneycontrol.com

An evening walk down Dalal Street | Flat end to D-Street amid a volatile day; Nifty below 10,900

At the close of market hours, the Sensex was up 2.96 points or 0.01% at 36321.29, and the Nifty was higher by 3.50 points or 0.03% at 10890.30.

Moneycontrol News @moneycontrolcom

A largely volatile day came to a flat close on Wednesday as investors awaited for stronger cues from global and domestic front. The Nifty ended the session below 10,900, which it had reclaimed right at its opening tick.

The Sensex slipped around 150 points off the day’s high points, while an underperformance was visible among midcaps.

Meanwhile, the Bank Nifty outperformed all its peers, with ICICI Bank, IndusInd Bank and Yes Bank being its top contributors.

Sectorally, BSE Metal index slipped 0.68 percent, followed by the BSE FMCG index which dropped 0.74 percent, and the BSE Telecom index closed 0.82 percent lower. On the other hand, IT rose 0.65 percent while the BSE Oil & Gas index closed with gains of 0.6 percent.

The day began on a positive note, following upbeat global cues. Additionally, they reacted to Brexit-related developments. The Nifty had reclaimed 10,900-mark, while the Sensex rose around 100 points in opening trade.

“The market remained lacklustre and traded in narrow ranges in the absence of any fresh news or triggers from both domestic and global markets. The direction in the coming days would depend to a large extent on the earnings season that is coming up and also the developments around US government shutdown, Brexit and further monetary actions from China”

At the close of market hours, the Sensex was up 2.96 points or 0.01% at 36321.29, and the Nifty was higher by 3.50 points or 0.03% at 10890.30.The market breadth was negative as 1214 shares, against a decline of 1337 shares, while 146 shares were unchanged.

Stocks in the News

Jet Airways shares plunged more than 8 percent after a media report said shareholder Etihad Airways offered to invest in company at a price which is nearly half of Tuesday's closing price.

Indiabulls Integrated Services shares were locked in 5 percent upper circuit at Rs 332.05 after receiving R1 acceptance from the insurance regulator for its life insurance business.

FMCG major Hindustan Unilever is expected to report strong growth in October-December quarter, driven by volume growth and operational performance along with price hikes taken in detergents and skin care categories during Q2FY19. The stock ended a percent lower ahead of results.

Private sector lender DCB Bank has reported a massive 51 percent on year growth in third quarter profit at Rs 86.1 crore despite higher provisions. The growth was largely driven by NII, other income and operating income. The scrip, however, ended a percent lower.

Share price of Speciality Restaurants locked at 20 percent upper circuit on Wednesday post the company reported robust numbers in the quarter ended December 2018.

Share price of Rallis India rose 1percent as the company considers merger of its wholly owned subsidiary with itself.

Shares of Jay Bharat Maruti slipped 5 percent after company reported weak set of numbers for Q3FY19.

Shares of Texmaco Rail and Engineering gained 1 percent as company bagged an order worth Rs 262 crore.

Global Markets

European stocks were higher as investors continued to digest Brexit vote developments. Stoxx 600 was up around 0.3 percent during early morning deals.

Asia Pacific markets traded mixed despite an overnight rally on Wall Street. Japan’s Nikkei 225 fell 112.54 points, or 0.55 percent, to 20,442.75 while the Topix index slipped 4.95 points, or 0.32 percent, to 1,537.77. In South Korea, the Kospi rose 8.92 points, or 0.43 percent, to 2,106.1.
First Published on Jan 16, 2019 04:26 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant