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MARKET WRAP: Sensex, Nifty end marginally lower after a volatile session

SI Reporter/New Delhi 02 May 19 | 07:40 AM

Benchmark indices ended a volatile session marginally lower on Thursday with IT and Pharma stocks dragging the indices down.

The Sensex dropped 50 points, or 0.13 per cent, to finish at 38,981 levels, with TATA Motors, ICICI Bank, IndusInd Bank, Infosys and HCL Tech among the biggest losers. Of the 30 constituents, 15 ended the day in green while as many were painted red.

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Nifty50 failed to hold the 11,750 level and closed at 11,725 levels, down 23 points, or 0.20 per cent. About 1,053 shares advanced, 1,442 shares declined, and 163 shares remained unchanged. 

India Vix rose 5.19 per cent to 22.96.


Among sectoral indices, Nifty IT index was the biggest loser, down 1.8 per cent, led by a fall in Infosys, TCS and HCL Technologies. The Nifty Media index also dipped over 1 per cent.

The broader market fared worse with the S&P BSE MidCap index tumbling 91 points, or 0.61 per cent, to 14,798, while the S&P BSE SmallCap index ended the dat at 14,593, down 31 points, or 0.21 per cent.

BUZZING STOCKS

Escorts shares dipped almost 8 per cent to Rs 58.90 after the farm equity major reported a 15 per cent decline in tractor sales to 5,264 units in April 2019. The company had sold 6,186 tractors in the same month last year. READ MORE

Jet Airways (India) shares saw a late recovery to end the day at Rs 135.40, down 11.71 per cent, after skidding 20 per cent to hit its 52-week low of Rs 123 on the BSE in early morning trade, on report that bidders have not shown interest in following up their offers for the debt-laden airline with a few days left to submit their final bids. The stock is trading close to its all-time low level of Rs 115 touched on March 12, 2009 in intra-day trade. READ MORE

Ashok Leyland shares rose over 3 per cent to Rs 89.70 on the National Stock Exchange (NSE), after the company reported 10 per cent rise in the domestic vehicles sales at 13,141 units in April 2019. The commercial vehicles company had sold 11,951 vehicles in domestic market during the same month last year. READ MORE

GLOBAL MARKETS

Asian markets marked time on Thursday with two major centers - Japan and China - shut for holidays while the dollar held on to overnight gains after the US central bank poured cold water on rate cut expectations.

Australian shares slipped 0.7 per cent while New Zealand was up 1.2 per cent and South Korea’s KOSPI index added 0.4 per cent.

(With inputs from Reuters)

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Sensex

Company Price Gain (%)
Bajaj Fin.3,301.206.09
Hero Motocorp2,623.504.26
Maruti Suzuki6,707.203.53
Kotak Mah. Bank1,460.703.31
Bajaj Auto3,041.803.30

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