Markets will mostly track the commentaries of corporates on underlying demand post the government's recent measures to boost the economy (Mint file)
Markets will mostly track the commentaries of corporates on underlying demand post the government's recent measures to boost the economy (Mint file)

Sensex, Nifty close lower after a one-day rally

  • The Sensex closed 297.55 points, or 0.78%, lower at 37,880.04, while the Nifty 50 fell 78.75 points, or 0.7%, to 11,234.55
  • The September-quarter earnings season and US-China trade talks are likely to drive markets going ahead, according to analysts

Mumbai: After a one-day hiatus, key Indian benchmark equity indices ticked lower again on Thursday tracking losses in Asian peers.

The benchmark S&P BSE Sensex closed 297.55 points or 0.78% lower at 37,880.04, while the Nifty 50 fell 78.75 points or 0.7% to close at 11,234.55. The BSE Mid-Cap index was down 0.87%, and the BSE Small-Cap index fell 0.57%.

Among other Asian equities, Taiwan's Taiex lost 1.16%, Korea's Kospi fell 0.88% and Thailand's SE Thai was down 0.54%.

The market breadth was weak, with 877 shares on the BSE rising and 1569 shares declining. A total of 183 shares were unchanged. On the Nifty, 15 stocks advanced and 35 declined.

Indiabulls Housing Finance Ltd tumbled 18.54% to 195.35 after the Reserve Bank of India rejected its merger with Lakshmi Vilas Bank. The stock was the biggest loser in the BSE's 'A' group. On the BSE, 47.62 lakh shares were traded today against the average daily volume of 19.95 lakh shares in the past one month.

Reliance Industries Ltd gained for the third consecutive day to close at 1362.75, up 2.87%. In the last one month it has risen 10.4%.

IndusInd Bank tumbled 6.12% to close at 1228.5 after the bank announced its September quarter earnings. Net profit jumped 50.3% year-on-year to 1383.37 crore in the September quarter but missed analysts’ estimate.

Goa Carbon fell nearly 5% to hit the lower circuit at 226, extending losses from Wednesday following the company's dismal Q2 earnings. The company reported a net loss of 13.77 crore in the September compared with a net loss of 1.27 crore in the year-ago period. Net sales fell 10.47% year-on-year to 101.46 crore in July-September.

Wockhardt Ltd gained 5.08% to close at 256.95. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 1.11 lakh shares were traded on the counter so far as against the average daily volumes of 2.15 lakh shares in the past one month.

Jaypee Infratech rose in 4.35% to close at 1.2 after media reports suggested the government could waive off the tax claims against the company. As per reports, the government is likely to waive off the tax claims of 33,000 crore against Jaypee Infratech as the tax department's claims are not tenable.

DHFL was locked in the 10% lower circuit, down for the fourth consecutive session, and closed at 23.50 on reports that Edelweiss Asset Management has approached the Bombay High Court to recover dues of around 70 crore from DHFL.

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