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 took a 378-point, or 1.05 per cent, hit to shut shop at 35,513, with only five stocks HCL Tech, Bajaj Auto, Asian Paints, Hindustan Unilever and Bharti Airtel ending in green.
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 crore cumulatively from total market capitalisation, which fell to Rs 1,42,14,112 crore from Rs 1,43,41,828 crore at Wednesdays close.
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.
The stock continued to weaken after Eichers two-wheeler brand Royal Enfield reported a 13 per cent drop in December sales at 58,278 units 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.
Earlier, companys board had deliberated on demand from Department of Investment and Public Asset Management (DIPAM) for listing of OVL, but 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 Supreme Court revived a class action suit filed by Central Government against companys Maggi noodles, while setting aside an NCDRC order.
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 suggested.
The companys last buyback was for shares worth Rs 11,000 crore.
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 Sensex pack.
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.