Home >Markets >Live Blog >Indices halt three-day rally, Sensex down 248 points

Indices halt three-day rally, Sensex down 248 points

  • Auto, banking and metal stocks lead decline
  • Global markets slide on growth concerns

Indian markets closed lower on Wednesday with Sensex down over 247.68 points. Nifty closed at 11,861.10 tumbling 67.65 points. The broader market also ended negative with BSE Midcap and Smallcap losing 0.83% and 0.57%.

Sector-wise, BSE Metal (-1.97%), Auto (-1.54%), Industrials (-1.21%), Bankex (-1.16%) and Power (-1.13%) were the biggest losers.

SBI, Tata Steel, Tata Motors, Maruti Suzuki and ICICI Bank were the most laggards on Sensex pack shredding as much as 3.40%.

Asian markets mostly ended lower today with no signs on China-US trade tensions will let up. European equities were also lower as investors dumped shares and scurried for the safety of German and US government debt.

29 May 2019, 03:35:16 PM IST

Market at Close

Sensex closed at 39,502.05 falling 247.68 points, or 0.62%, while Nifty slipped 66.80 points, or 0.56%, settling at 11,861.95.

29 May 2019, 03:33:39 PM IST

Top losing stocks

SBI (-3.39%), Tata Steel (-3.02%), Tata Motors (-2.57%), ICICI Bank (-2.47%) and Maruti Suzuki (-2.35%) were the top losers on Sensex pack.

On Nifty, JSW Steel (-4.42%), SBI (-3.35%), Tata Steel (-2.87%), Zee Entertainment (-2.59%) and ICICI Bank (-2.58%) were the top losers.

29 May 2019, 03:12:26 PM IST

Sensex falls over 250 points

Sensex slipped 271.27 points, or 0.68%, at 39,478.46 while Nifty is at 11,853.75 falling 75 points, or 0.63%.

29 May 2019, 02:46:52 PM IST

M&M posts 20% decline in Q4 net

M&M, in its standalone financial result, has posted a 20% year-on-year (YoY) decline in Q4FY19 profit after tax (PAT), which stood at 849 crore as against 1,059 crore from the year ago period.

The decline is due to a sharp rise in its total expenses, which stood at 12,950 crore during Q4FY19. It rose 8% YoY over Q4FY18 when total expenses were at 11,986 crore.

29 May 2019, 02:39:28 PM IST

Top losers on Sensex

Shares of State Bank of India (SBI), Tata Motors, Tata Steel, ICICI Bank and ONGC were the biggest laggards on Sensex falling as much as 3.25%.

29 May 2019, 02:14:56 PM IST

Nifty PSU Bank worst performer

Among sectors, the Nifty PSU Bank is the worst performer falling 2.54% with Punjab National Bank (PNB) being the biggest dragger loosing 4.81%.

PNB on Tuesday slipped into the red, incurring net losses of 4,750 crore in the January-March quarter, after posting a net profit of 247 crore in the preceding quarter.

29 May 2019, 10:50:10 AM IST

DHFL shares rise as much as 4%

Dewan Housing Finance Corporation Ltd (DHFL) shares rose as much as 4.1% today before giving up some gains. The loan provider denied media reports that alleged that the Ministry of Corporate Affairs had found shell companies associated with it and had issued a lookout notice for its promoters. Shares of DHFL had fallen 3.65% on Tuesday.

29 May 2019, 09:37:23 AM IST

SpiceJet shares fall 5%

Shares of SpiceJet were trading nearly 5% lower at 142 but they off early lows of 138.30. SpiceJet shares had hit a fresh 52-week high of 153 on Tuesday. SpiceJet had on Tuesday posted a 22% jump in fourth-quarter profit, as it flew more customers and was able to raise prices at a time when the industry benefited from the collapse of Jet Airways. "(With) significant improvements in yields and prime slots at key airports, we are confident of a strong performance for FY2020," Chairman and Managing Director Ajay Singh said in a statement. (Read: Grounding of MAX aircraft clouds SpiceJet’s Q4 profit performance)

29 May 2019, 09:21:29 AM IST

Sun Pharma shares edge higher in early trade

Sun Pharmaceutical Industries Ltd.’s fourth-quarter profit halved from a year ago, hurt by a 1,085 crore one-time charge. “Though the numbers were lower than analyst expectations, but if accounted for the one-off sales adjusted due to change of distribution for India business, they offer some optimistic cues. US business has shown robust traction with 20% growth, especially when analysts had reduced weightage due to margin pressure. The whistle-blower complaint, which bogged down the stock in the last few months, seems to have relegated to the background, with no further information or development on the same," independent analyst Ambareesh Baliga told Mint.

29 May 2019, 09:21:29 AM IST

Sun Pharma profit halves

Sun Pharmaceutical Industries Ltd.’s fourth-quarter profit halved from a year ago as the fallout from a corporate governance scandal caused it to take a 1,085 crore charge and led to the brother-in-law of billionaire founder Dilip Shanghvi moving to a non-executive role. (Read: Sun Pharma faces the heat as Q4 profit halves; Valia’s role reduced)

29 May 2019, 09:18:39 AM IST

Asian markets fall, tracking Wall Street decline

Asian shares today fell tracking an overnight decline on Wall Street concerns grew that US-China may not reach any trade deal soon. Focus remained on the ongoing China-US trade war after US President Donald Trump said on Monday that Washington was not ready to make a deal with China yet. At the same time, he pressed Japan to reduce its trade imbalance with the United States.

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