INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Indian equity benchmark Sensex suffered a 332-point cut on Monday, extending its losing streak to the fourth consecutive session
as FMCG, bank, energy, metal and IT heavyweights shed weight
The market opened in the green, riding the optimism of strong GDP number and a rise in the rupee against the US dollar
However, weak gl obal cues weighed on the sentiments and a fresh bout of profit booking hurt major counters
Major global markets extended their fall as simmering trade tension kept investors depressed
Globally, stock markets fell for the third straight day, hurt by worries over an escalation in trade disputes between US and China and a
deepening selloff across emerging market currencies, Reuters reported
The rupee erased its early gains and touched the 71-mark again
The Nikkei India Manufacturing PMI stood at 51.7 in August against 52.3 in July
The Nifty closed the day at 11,582 with a loss of 98.15 points, or 0.84 per cent, with 17 stocks ending in the green and 33 in the red
BSE Midcap and smallcap indices fell 0.45 per cent and 0.17 per cent, respectively
per cent), Axis Bank (2.69 per cent), ICICI Bank (2.51 per cent) and ITC (2.01 per cent) were the top five losers in the Sensex pack
Wipro (up 2.49 per cent), Bajaj Auto (0.68 per cent), HDFC Bank (0.58 per cent), Sun Pharma (0.57 per cent) and Coal India (0.47 per cent)
emerged among the top five gainers.
Wipro sees biggest intraday gains in 5 yearsJumping 8.74 per cent, shares of Wipro posted biggest
intraday gain in over five years
The stock, however, cooled off later and settled just 2.49 per cent higher at Rs 309.15
The stock surged after the company struck a deal worth of over $1.5 billion with Alight Solutions, its biggest so far
The software company won an over $1.5 billion engagement from Alight Solutions
Under the 10-year deal, Wipro will provide a comprehensive suite of solutions and services to the Illinois-based Alight Solutions that
provides technology-enabled health, wealth, HR and finance solutions.
Maruti Suzuki took a hitStock of Maruti Suzuki hit a road bump on
Monday as India's largest carmaker reported 3.4 per cent decline in total sales for August at 158,189 units against 1,63,701 units
reported for the same month last year
The stock closed the day 1.90 per cent lower at Rs 8,924.
FMCG stocks crumbleWith a loss of 2.14 per cent, the BSE FMCG closed the day as
the top loser among the sectoral indices
Out of 80 components in the index, 41 suffered losses
Spurt in open interestAdani Enterprises witnessed a 50.01 per cent spurt in open interest, followed by Wipro (49.25 per cent), Balkrishna
Industries (42.43 per cent) and Escorts (26.03 per cent).
52-week highs lowsAs many as 54 stocks, including DHFL, Sun Pharma, Infosys, ITC,
Mindtree and Tech Mahindra hit 52-week highs on NSE on Monday, whereas 50 stocks, including Accelya Kale Solutions, Autoline Industries,
eClerx Services and D B Realty touched 52-week lows on NSE today.
MACD bullish on 46 countersMomentum indicator moving average convergence
divergence, or MACD, on Monday, showed bullish crossovers on 46 counters on NSE
Among the stocks that showed bullish crossovers included NCC, PC Jeweller, Parag Milk Foods and Umang Dairies
Meanwhile, 45 counters, including Axis Bank, Dabur India, Balkrishna Industries, Ambuja Cements and Cipla showed bearish crossovers on NSE
