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MARKET WRAP: Sensex down 219 pts, Nifty ends at 10,527; Adani Gas rises 14%

SI Reporter/New Delhi 22 Nov 18 | 08:06 AM

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The benchmark indices ended lower for the third consecutive session, settling over 0.5 per cent lower led by fall in banking and metal stocks.

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The S&P BSE Sensex ended at 34,981, down 219 points or 0.6 per cent, while the broader Nifty50 index settled at 10,527, down 73 points or 0.7 per cent.

In the broader market, S&P BSE MidCap index fell 0.7 per cent to end at 14,880 levels, while the S&P BSE SmallCap index slipped 0.4 per cent to 14,351.

Among individual stocks, Adani Gas rose 14 per cent to Rs 110.85 on the National Stock Exchange (NSE) on Thursday, extending its rally of over 25% in the past two days. Following the rally, the company entered the Rs 100-billion market capitalisation (market cap) club.

In the sectoral indices, Nifty Metal index, the top sectoral loser, fell 1.8 per cent weighed by Hindalco Industries and NMDC. The Nifty Bank too slipped 1 per cent due to a fall in The Federal Bank and Axis Bank.

Global Markets

Asian shares seesawed in cautious trading on Thursday with China extending losses as investors worries about slowing global growth in the face of rising U.S. interest rates and trade tensions.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.2 per cent, recouping earlier losses. The index has managed to hold up so far in November after three straight monthly declines but is on track for its worst annual performance since 2011. Japan’s Nikkei was off morning highs but up 0.7 per cent. Chinese shares were in the red after opening higher, with the blue-chip index falling 0.4 per cent.

Oil Prices

Oil prices slipped on Thursday after US crude inventories swelled to their highest level since December 2017 amid concerns of an emerging global glut, although the potential for a supply cut by OPEC prevented further drops.

US West Texas Intermediate (WTI) crude futures, were at $54.47 per barrel, down 16 cents, or 0.3 per cent below their last settlement. Front-month Brent crude oil futures were at $63.34 per barrel, down 14 cents, or 0.2 per cent.

(with Reuters input)

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Sensex

Company Price Gain (%)
Tata Motors173.754.10
Power Grid Corpn192.503.77
H D F C1,959.152.89
Vedanta205.652.21
Wipro339.802.01

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