Eight out of the 11 sectoral indices on the National Stock Exchange (NSE) settled lower.
Domestic stock markets ended lower after a volatile session on Thursday, as investors booked profits after the government said it had approved stake sales in five state-run companies.
The markets started the day on a positive note but soon gave in to selling pressure in financial, metal and energy stocks.
The S-P BSE Sensex index declined as much as 117.52 points to touch 40,534.12 during the session, and the broader NSE Nifty benchmark fell to as low as 11,956.90, down 42.2 points from the previous close.
Here are 10 things to know about the movement in domestic share markets (Sensex and Nifty) today:Both benchmark indices briefly traded in the positive zone, as buying emerged in select financial stocks, but failed to sustain gains.The Sensex ended 76.47 points - or 0.19 per cent - lower at 40,575.17 and the Nifty settled down 30.70 points - or 0.26 per cent - at 11,968.40.Top percentage laggards on the 50-scrip index were Bharat Petroleum (BPCL), Coal India, Tata Steel, Yes Bank and Bharti Airtel, ending between 2.39 per cent and 5.97 per cent lower.ITC, Axis Bank and Bharti Airtel were the top contributors to the loss in Sensex.Eight out of the 11 sectoral indices on the National Stock Exchange (NSE) settled lower, with the Nifty metal index ending 2.16 per cent lower.On Wednesday, the government agreed to sell stakes in five state-run companies, including oil refiner Bharat Petroleum Corp (BPCL), a move that could help bridge a widening fiscal gap.BPCL ended 5.97 per cent lower on the NSEBharti Airtel ended 2.39 per cent lower on the NSE, whereas Vodafone Idea finished the session with a loss of 5.67 per cent.The government on Wednesday said it will defer spectrum payments due from telecom companies for two years, to help an industry ravaged by a years-long price war.
The relief will be worth as much as Rs 45,000 crore ($6.3 billion), an official said.Zee Entertainment Enterprises, on the other hand, ended 11.73 per cent higher and was the top gainer in the Nifty 50, after promoter Essel Group said on Wednesday it was planning to sell about 16.5 per centstake in the company.Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul settled in the red amid reports that the US-China trade deal was unlikely to be signed this year.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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