Indices end lower dragged by metal, oil stocks, Nifty closes below 11,8001 min read . Updated: 28 Jun 2019, 03:55 PM IST Staff Writer
- Metal stocks were the worst performer among sectors
- The broader market also remained under pressure
Domestic equity benchmarks BSE Sensex and NSE Nifty ended negative as investors were cautious amid weak cues from global equities as the G20 Summit began in Japan.
Nifty settled at 11,788.85 down 52.70 points, or 0.45%, while Sensex fell 191.77 points, or 0.48%, ending at 39,394.64.
Top losers in the Sensex pack were Yes Bank, IndusInd Bank, Tata Motors, Reliance Industries and ONGC taking 3.29%.
Among sectors, Nifty Metal was the worst performer falling 1.13%. Nine out of 11 sectors complied on NSE ended in the red zone today.
Meanwhile, broader market also remained under pressure with BSE Midcap and Smallcap indices losing 0.30% and 0.07% respectively.
"Caution ahead of G-20 meet, weak monsoon rains and RBIs concern over NBFC’s liquidity impacted the sentiment. Expectation for Q1FY20 got muted after an insipid economic data. Auto and metal sectors are likely to be subdued due to low demand and benign raw material prices. Government seems to have hectic task ahead- to support growth and maintain fiscal prudence which will be closely watched by the market," said Vinod Nair, head of research, Geojit Financial Services.
Asian markets fell on Friday as investors keep a nervous watch on developments in the G20 summit, with trade top of the agenda and a key focus on the much-anticipated meeting between Donald Trump and Xi Jinping.
Equities have enjoyed a largely positive couple of weeks on hopes for progress in the head-to-head between the leaders of the world's top two economies, though the possibility of failure continues to make dealers nervous.
Market at close
Nifty settled at 11,793.90 down 47.65 points, or 0.40%, while Sensex fell 191.77 points, or 0.48%, ending at 39,394.64.
Alembic Pharma gets no objection from USFDA
US FDA issued no observation for Panelav Unit of Alembic Pharma where is inspected from 24-28 June, company informed the exchanges.
Shares of Alembic Pharma is up 3.36% on BSE.
DHFL tanks nearly 12%
Shares of DHFL plunged 11.8% on both the indices after the company postponed announcement of its Q4 result.
Nifty Metal worst performer among indices
Shares of Nifty Metal lost 1.56% becoming the worst performing sector on NSE.
Jindal Steel is the biggest laggard on the segment falling 4.55%.
Cox and Kings touches lower circuit
Shares of Cox and Kings has touched its 52-week low on both the indices amid rating downgrades and payment defaults. On BSE, the company is trading at ₹36.35 plunging 10%, while on NSE the company lost 9.91% at ₹36.80.
Top losers on Sensex
Yes Bank, Tata Motors, Vedanta, IndusInd Bank and Tata Steel are the top losing stocks on Sensex, slipping as much as 3.78%.
Glenmark Pharma gets USFDA nod for cholesterol lowering drug
Glenmark Pharmaceuticals received final approval from the US health regulator for Ezetimibe and Simvastatin tablets, used for treating high levels of cholesterol in the blood. The approved product is a generic version of MSD International's Vytorin tablets.
DHFL defers Q4 result
DHFL informed the exchanges that the the board of directors has postponed their AGM from 29 June to 13 July to consider their fourth quarter result ending 31 March 2018.
Shares of the company is trading at ₹75.10 down 8.80% on BSE.
Japan's Nikkei fell on Friday as investors turned cautious ahead of much awaited talks between U.S. and Chinese leaders at the G20 summit.