INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Losses in metal, bank and auto heavyweights amid weak global cues made domestic equity benchmarks snap five-session winning
streak on Tuesday.
The market traded in negative zone throughout day, as gloom in global markets extended to domestic bourses.
Emerging
stocks and currencies slid, as fears of slowing global growth spooked investors and made them move towards safe haven assets.
Optimism
stemming from third quarter earnings faded and market reacted to global sentiment due to absence of fresh decisive triggers back
home.
Sensex closed with a cut of 134 points, or 0.37 per cent, at 36,444.64, while Nifty settled 39 points, or 0.36 per cent, lower at
10,922.75.
BSE Midcap and Smallcap indices fell 0.09 per cent and 0.49 per cent, respectively.
We walk you through highlights of Tuesday's
session:Who dragged my SensexHDFC twins, Mahindra Mahindra, Maruti Suzuki and Larsen Toubro emerged as top drag on Sensex
However, pack of losers was led by Vedanta, down 3.50 per cent
It was followed by Tata Steel (down 3.13 per cent), Mahindra Mahindra (down 3.08 per cent), HCl Tech (down 2.18 per cent) and Bharti Airtel
(down 2 per cent).
Metals meltThe BSE Metal pack suffered a loss of 2.31 per cent, emerging as top sectoral loser, on fall in shares of
Jindal Steel (down 4.53 per cent), Vedanta (down 3.50 per cent), Tata Steel (down 3.13 per cent), Hindustan Zinc (down 2.76 per cent), JSW
Steel (down 2.46 per cent), SAIL (down 2.23 per cent) and Hindalco (down 1.88 per cent)
As per Reuters, base metals prices dropped across global markets with benchmark London copper extending a sharp drop from previous session,
after economic growth in top metals consumer China slowed to its weakest in 28 years.
Sun shines againNotching up gains for a second
loan nor guarantees to Suraksha Realty.
A dull Q3 showAsian Paints on Tuesday posted 14.60 per cent year-on-year rise in consolidated profit
at Rs 635.60 crore for quarter ended December 31
Consolidated revenue of company increased 24 per cent to Rs 5,293.99 crore in Q3FY19 over Rs 4,267.49 crore in Q3FY18
But numbers failed to excite market as stock closed day with a loss of 0.99 per cent at Rs 1,406.55 on BSE.
In fast laneShares of TVS Motor
closed 2.94 per cent up at Rs 553.85 after it reported a 15.57 per cent increase in standalone net profit at Rs 178.39 crore for third
Revenue from operations was at Rs 4,663.98 crore, up 26.09 per cent against Rs 3,698.67 crore on a yearly basis.
A volatile rideAfter
surging almost 20 per cent in early trade, shares of Prabhat Dairy nosedived and closed session with a loss of 14.29 per cent at Rs 79.75 on
Rs 900 crore.
Ashok Leyland declinesShares of Ashok Leyland closed 2.92 per cent down at Rs 88 after global brokerage firm CLSA maintained
focus on regaining its lost market share
Kotak firms up post Q3 nosShares of Kotak Mahindra Bank closed 1.92 per cent higher at Rs 1,291.60 as leading brokerages maintained their
bullish stance on Kotak Mahindra Bank after lender posted a 23 per cent rise in profit at Rs 1,291 crore for December quarter on higher net
interest income.
Shining brightShares of Havells India jumped 4.95 per cent to Rs 711.40 even as company reported a nominal rise of 0.67 per
cent in standalone profit at Rs 195.67 crore
The company had posted a net profit of Rs 194.36 crore during October-December quarter of previous fiscal
Total income during quarter under review stood at Rs 2,551.4 crore as against Rs 1,993.53 crore in year-ago period.
151 stocks signal
potential fallMomentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 151 counters on BSE,
indicating that these stocks may drop or extend their fall in coming sessions
Among stocks with bearish crossovers were Prabhat Dairy, Praj Industries, Hindalco, ONGC, HDFC, 8K Miles Software and Grasim Industries.
On
other hand, 46 stocks, including TVS Motor, Havells India, Petronet LNG, Dabur India and Shalimar Paints, showed bullish crossovers on
BSE.
Oversold and overbought stocksMomentum oscillator Relative Strength Index, or RSI, showed 37 stocks in oversold zone on BSE
Shares of Vivimed Labs, Arvind, Sadhana Nitro, Sandhar Technologies and Ashari Agencies entered into oversold territory.
However, 42 stocks,
including Majestic Auto, Kajaria Ceramics, Apollo TriCoat Tubes, Seamec and Cybele Industries entered overbought zone.
