BackSensex, Nifty close lower for fourth straight session
The Sensex fell 198.54 points or 0.52% to close at 38,106.87, while the Nifty 50 fell 45.90 points or 0.40% to 11,314.00.The S&P BSE Small-Cap index fell 0.38%, S&P BSE Mid-Cap index was down 0.3%
PremiumMumbai: Key benchmark equity indices extended losses for the fourth consecutive session on Thursday, dragged down by weak global markets.
The Sensex fell 198.54 points or 0.52% to close at 38,106.87, while the Nifty 50 fell 45.90 points or 0.40% to 11,314.00. The S&P BSE Small-Cap index fell 0.38%, S&P BSE Mid-Cap index was down 0.3%.
Indian financial markets were shut on Wednesday on account of Gandhi Jayanti.
The market breadth was weak today, with 964 shares on the BSE rising and 1,528 stocks down. A total of 159 shares were unchanged. On the Nifty 50 index, 19 stocks advanced and 31 stocks declined.
Yes Bank surged 32.97% to ₹42.55. The bank clarified that the material drop in its share prices on Tuesday was primarily because of forced sale of 10 crores equity shares, representing 3.92% of the bank's equity share capital. In an exchange filing on Wednesday, the bank said a large stakeholder invoked shares pledged with it, following which the entire pledge stood extinguished.
The private lender also reiterated that its financial and operating metrics remain intrinsically sound and stable, with liquidity position well in excess of regulatory requirements.
Coal India fell 3.84% to close at ₹186.65. Coal production declined 23.5% year-on-year to 30.77 million tonne in September. Offtake also declined 20% to 35.18 million tonne during the reporting month.
InterGlobe Aviation fell 2.5% to ₹1824.05 as promoter Rahul Bhatia has moved arbitration proceedings amid differences with co-promoter Rakesh Gangwal. InterGlobe Enterprises and Rahul Bhatia, as claimants, submitted a request for arbitration, dated 1 October, to the London Court of International Arbitration.
Eicher Motors rose 2.7%, despite the company's motorcycles sales falling 17% year-on-year to 59,500 units in September.
Hero MotoCorp declined nearly 1%, as the two-wheeler major sales declined 20.4% year-on-year 6.12 lakh units of motorcycles and scooters in September.
M&M closed 1% higher at ₹562.1 following news that the company has formed a joint venture with Ford Motor Company after buying a 51% stake in the Indian unit of the US auto major.
TVS Motor Company shed nearly 3.2% after total sales fell 25.5% to 3.15 lakh units in September.
Shares of public sector oil marketing companies advanced after global crude oil prices declined. BPCL rose 7.8%, HPCL was up 4.5%, and Indian Oil Corporation advanced 2.6%.
The initial public offer (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed 63.53 times on the last day of bidding. As of 15:15 IST, the issue ahd received bids for 128.07 crore shares. The IPO, which opened on Monday, closes today. The price band for the issue has been fixed at ₹315-320 per share.
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