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Last Updated : Jan 25, 2019 07:13 PM IST | Source: Moneycontrol.com

An evening walk down Dalal Street | Sensex falls over 160 points, Nifty below 10,800

At the close of market hours, the Sensex was down 169.56 points or 0.47% at 36025.54, and the Nifty down 69.30 points or 0.64% at 10780.50.

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It’s not the perfect finish to the week as benchmarks closed with deep cuts; the Nifty ended below 200-day moving average (DMA). Interestingly, there was a minor patch of green on equities through the day, but a sharp sell-off in the last two hours weighed on indices.

The Sensex slipped a little over 450 points intraday from the day’s high points. Among the broader markets too, the Nifty Midcap slipped around 2 percent from its highs and ended 1.6 percent

Banks were one of the big losers along with automobiles and metals, while less selling was visible pharmaceuticals and energy names.

The Bank Nifty, meanwhile fell around 300 points off highs, with ICICI Bank contributing 100 points to the fall.

Selling among index heavyweights such as Maruti Suzuki and Zee Entertainment also weighed on the market. Zee Group stocks plunged but not before seeing heavy sale volumes.

At the close of market hours, the Sensex was down 169.56 points or 0.47% at 36025.54, and the Nifty down 69.30 points or 0.64% at 10780.50. The market breadth was negative as 688 shares advanced, against a decline of 1,838 shares, while 145 shares were unchanged.

Yes Bank, HCL Technologies, and Bharti Infratel were the top gainers, while Maruti, Hero MotoCorp and Zee Entertainment lost the most.

Stocks in the News

Maruti’s shares plunged 8 percent after a dismal Q3 performance. The margins for automobile major have come in at multi-year low.

Shares of Zee Entertainment plunged over 26 percent amid reports of SFIO probe into a firm that Essel Group is associated with.

Shares of Kokuyo Camlin slipped 8 percent on the back of poor numbers declared by the company for the quarter ended December 2018.

Indian Bank plunged by about 7 percent after the state-owned bank reported nearly 50 percent fall in net profit for the quarter ended December to Rs 152.26 crore as compared to Rs 303.06 crore reported in the year-ago period. It was less than CNBC-Tv18 poll of Rs 289.40 crore.

Bharti Infratel shares rallied more than 6 percent after the company reached a settlement with Vodafone Idea, which merged last year, for the cell sites at a hefty amount. Due to which, Bharti Airtel, the promoter of Infratel, also gained 3 percent intraday

Larsen & Toubro has reported strong set of earnings for the quarter ended December 2018 as profit grew by 37 percent year-on-year to Rs 2,042 crore, driven by strong revenue growth and operational performance. The stock ended a percent lower.

Global Markets

European stocks were higher even as there were worries over US-China relations. The Stoxx 600 index rose more than 0.4 percent.

Major indexes in Asia were higher on Friday. The Shanghai composite gained around 0.39 percent to close at about 2,601.72. The Shenzhen component rose 0.29 percent to finish its trading week at approximately 7,595.45 while the Shenzhen composite shed earlier gains to close 0.176 percent lower at about 1,319.97.
First Published on Jan 25, 2019 05:03 pm
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