INSUBCONTINENT EXCLUSIVE:
Mumbai: The domestic stock market ended flat on Thursday, but stock-specific movements kept the traders busy throughout the day
While telecom stocks such as Vodafone Idea and Bharti Airtel plunged despite some government relief, Zee Entertainment spiked on stake sale
by the promoters.
Stocks fell in line with weakness in global peers after US legislation on Hong Kong raised investor apprehension that a
US-China trade deal would not be sealed anytime soon.
Sensex closed 0.19 per cent or 76.47 points lower at 40,575.17, while the 50-share
The region around previous all-time high of 12,100 is witnessing some profit booking
It is not at all unexpected to witness some retracement near all-time highs
Broader structure continues to remain positive and the uptrend is intact
fell 6.08 per cent and 2.52 per cent, respectively, even as the Cabinet approved the recommendation of the Committee of Secretaries (CoS) on
the relief to the stressed telecom sector, and allowed telcos a two-year moratorium on spectrum-related due
DHFL recovers in late
tradeShares of debt-laden Dewan Housing Finance Corporation recovered in late trade and closed nearly 5 per cent higher, after plunging in
Late on Wednesday, the Reserve Bank of India placed the beleaguered NBFC under an administrator and said the resolution process will begin
The central bank also superseded the board of the third largest pureplay mortgage lender.
Zee Entertainment ralliedShares of Zee
Entertainment rallied 12.40 per cent after reports said 14.52 crore shares of the company changed hands in a block deal on NSE.
Bears
remained in controlMarket breadth again leaned in favour of the bears, with losers beating gainers in the ratio of 1.3:1 on BSE
The ratio was worse for the frontline stocks as 19 of 30 Sensex stocks closed lower.
Who moved my SensexCigarettes-to-hotels conglomerate
Energy-to-telecom group Reliance Industries (30.11 points) followed next with a 0.63 per cent decline.
Broader market weakBSE 500 index fell
0.33 per cent, while BSE midcap and BSE smallcap indices fell 0.73 per cent and 0.43 per cent respectively.
57 stocks hit 52-week lowsA
total of 57 stocks touched 52-week lows on the NSE
These include Blue Dart Express, Chennai Petroleum Corporation, La Opala RG, and Stampede Capital.
Metals index top sectoral loserAmong
sectoral indices, BSE Metals fell the most at 2.23 per cent, followed by BSE Oil - Gas index which fell 2.14 per cent.
17 stocks touched
52-week highsAs many as 17 stocks scaled 52-week highs on the NSE
These included Bharat Petroleum Corporation, Aavas Financiers, HDFC AMC and HDFC Bank.