INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Domestic equity benchmarks suffered losses for second successive session on Thursday, mirroring nervousness in global markets
after a revenue warning from tech-giant Apple stoked fears of slowing global growth
Most global markets took a beating, as investors rushed to safe haven assets after iPhone maker said weak sales in China was to hit
company's quarterly numbers
Europe's major indices, including UK's FTSE100, Germany's DAX and French CAC40, declined about 1 per cent each, while their Asian
peers Nikkei 225, Shanghai Composite and Hong Kong's Hang Seng all ended in red
Back home, investors sold across sectors in absence of any positive trigger
December earnings season kicks off next week and analysts believe healthy prints from blue chip companies can change bearish trend.
Sensex
The Nifty50 closed at 10,672 with a loss of 120 points, or 1.11 per cent
Among 50 Nifty stocks, 42 slipped into red.
BSE Midcap and Smallcap indices closed 1.03 per cent and 0.58 per cent lower,
respectively.
Let's take a look at key highlights of Thursday's session:
128 stocks signal further fallAs many as 128 stocks, including
SBI, Dena Bank, Jet Airways, Tata Steel, MM, Tata Chemicals, Tech Mahindra, MM Financial Services, IRB Infrastructure and Exide Industries
showed bearish crossovers on momentum indicator moving average convergence divergence, or MACD, charts on BSE, signalling that these stocks
may slide further in coming sessions
Meanwhile, 56 BSE stocks including Balrampur Chini, Welspun India, Fortis Healthcare, Aditya Vision and Country Club Hospitality Holidays
showed bullish crossovers on MACD charts.
Rs 1.27 lakh crore gone in a dayThursday's rout caused BSE-listed firms lose over Rs 1.27 lakh
BSE-listed firms have lost over Rs 2.66 lakh crore in two-day selling spree
Eicher Motors plumbs 52-week lowShares of Eicher Motors plunged 4.65 per cent to touch its 52-week low of Rs 20,180 on BSE, before settling
4.30 per cent lower at Rs 20,253
against 66,968 units in year-ago month.
ONGC slips 3% on OVL listing planShares of ONGC fell 2.98 per cent to Rs 143.20 after company said
government has not yet asked it to reconsider listing its overseas arm ONGC Videsh (OVL) on bourses
felt market conditions are not right for an oil gas exploration and production company to list, adding that there were several complexities
involved in getting firm listed
NMDC falls on price cutsShares of mining firm NMDC cracked 3 per cent to settle at Rs 94 on BSE after reports that company had undertaken
price cuts in key products
ETNow reported that company had cut prices of iron ore fines by Rs 300 per tonne and that of lumps by Rs 350 per tonne
NMDC product prices are at a nine-month low now
The move has come in wake of Odisha miners ramping up production significantly, utilising their environment clearance capacity for
year.
Dena, Vijaya Bank plunge; BoB flatShares of Dena Bank and Vijaya Bank plunged 19.78 per cent and 6.76 per cent, respectively, while
those of Bank of Baroda (BoB) ended flat on BSE, as investors judged swap ratios for merger between three banks to be favourable for latter
The Union Cabinet approved merger on Wednesday
The three boards approved swap ratios at 110 BoB shares for every 1,000 Dena shares and 402 BoB shares for every 1,000 Vijaya Bank
shares.
Nestle India pares gainsShares of Nestle India came off day's high of Rs 11,499 to settle at Rs 11,191, up 1.36 per cent, after
The company had moved apex court against tests ordered by National Consumer Disputes Redressal Commission (NCDRC)
Wipro planning share buybackMarket is abuzz with speculation that IT major Wipro may announce another share buyback this quarter
However, this will be subject to regulatory approvals and an NCLT decision on merger of four of its businesses with tech major, a TOI report
The stock closed 0.09 per cent higher at Rs 325.40 on BSE.
MM Financial to raise fundsMahindra Mahindra Financial Services plans to raise
up to Rs 3,500 crore through a public issue of NCDs, PTI reported
One NCD issue for Rs 500 crore (base issue size) opens on January 04 and will close on January 25
The stock failed to benefit from news and settled 1.52 per cent down at Rs 458 on BSE.
Dena Bank, Exide below 200-DMAsDena Bank, Adani
Enterprises, GAIL, MM Financial Services, Exide Industries, HEG, JSW Energy, ACC and Biocon featured among stocks that witnessed negative
breakouts and traded below their 200-DMAs
Who dragged my SensexHDFC, Reliance Industries, Larsen Toubro (LT), HDFC Bank and Tata Consultancy Services (TCS) emerged top drags on
MM, with a loss of 3.04 per cent, led Sensex losers in terms of percentage points
ONGC, Vedanta, Tata Steel, LT, HDFC and NTPC lost over 2 per cent each.
Metal pack top sectoral loserThe BSE Metal index, with a loss of
2.35 per cent, finished as top loser among sectoral indices
All 10 index components settled in red, with Jindal Steel, SAIL, NMDC, Vedanta and Tata Steel ending session as top losers in that order,
falling between 2.59 per cent to 7.05 per cent.
