Key indices register modest losses
Losses for metal stocks and index heavyweights ITC and Infosys pulled key benchmark indices lower. The barometer index, the S&P BSE Sensex, fell 145.25 points or 0.56% to settle at 25,590.65. The losses for the 50-unit Nifty 50 index were higher in percentage terms than those for the Sensex. The Nifty fell 48.35 points or 0.62% to settle at 7,786.10. The Sensex and the Nifty extended losses in late trade. Earlier during the trading session, an unusual trend was witnessed when the Sensex witnessed a near 1% slide compared with a 0.41% slide for the Nifty.
In overseas stock markets, European shares witnessed a mixed trend. Asian markets edged higher, taking solace from overnight gains on Wall Street. US stocks edged higher in a choppy trading session yesterday, 21 December 2015, as investors shrugged off weak oil prices.
The Sensex fell 145.25 points or 0.56% to settle at 25,590.65, its lowest closing level since 18 December 2015. The index lost 250.73 points or 0.97% at the day's low of 25,485.17. The barometer index rose 51.31 points or 0.19% at the day's high of 25,787.21.
The Nifty fell 48.35 points or 0.62% to settle at 7,786.10, its lowest closing level since 18 December 2015. The index fell 57.60 points or 0.73% at the day's low of 7,776.85. The index rose 11.85 points or 0.15% at the day's high of 7,846.30.
The BSE Mid-Cap index fell 0.31%. The BSE Small-Cap index fell 0.02%. The decline in both these indices was lower than the Sensex's decline in percentage terms.
The market breadth indicating the overall health of the market was negative. On BSE, 1,369 shares fell and 1,305 shares rose. A total of 237 shares were unchanged.
Among sectoral indices on BSE, the S&P BSE Consumer Durables index (up 0.82%), the S&P BSE Telecom index (up 0.73%), the S&P BSE Healthcare index (up 0.31%), the S&P BSE Utilities index (up 0.03%), the S&P BSE Oil & Gas index (down 0.03%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.19%), the S&P BSE Energy index (down 0.24%), the S&P BSE Realty index (down 0.31%), the S&P BSE Power index (down 0.37%), the S&P BSE Finance index (down 0.39%), the S&P BSE Bankex (down 0.4%), the S&P BSE Capital Goods index (down 0.53%) and the S&P BSE Industrials index (down 0.55%), outperformed the Sensex.
The S&P BSE Basic Materials index (down 0.6%), the S&P BSE Auto index (down 0.66%), the S&P BSE FMCG index (down 0.81%), the S&P BSE Teck index (down 0.86%), the S&P BSE Metal index (down 1%) and the S&P BSE IT index (down 1.15%) underperformed the Sensex.
The total turnover on BSE amounted to Rs 2655 crore, higher than turnover of Rs 2505.93 crore registered during the previous trading session.
L&T fell 0.77% to Rs 1,280. The stock hit a high of Rs 1,297.90 and low of Rs 1,276 in intraday trade. The company announced after market hours today, 22 December 2015, that its Smart World & Communications business vertical is leading the way to make Jaipur India's first Smart City by creating a host of smart solutions like Wi-Fi hotspots, citizen interactive information kiosks, surveillance cameras, environmental sensors, parking information systems and remote kiosks with facility management services at select locations in the city. L&T has received the mandate from Jaipur Development Authority (JDA), which is leading the initiative to equip Jaipur with world-class digital facilities targeted primarily at the heavy tourist traffic that the city attracts. The Jaipur Smart City project has been planned in two phases with Phase 1 aimed at transforming six major locations into smart zones in the next month a and half and the remaining locations to be completed in a total of 120 days along with an Operations & Maintenance contract for 5 years. In Phase 1, L&T is completing the work at six locations, including the famous Ajmer Fort.
Index heavyweight and cigarette major ITC fell 1.63% to Rs 320.45. The stock hit a high of Rs 325.70 and low of Rs 317.65 in intraday trade.
IT stocks edged lower. TCS fell (down 1.43%), Hexaware Technologies (down 1.65%), MindTree (down 1.13%), Persistent Systems (down 0.88%), HCL Technologies (down 0.63%), Oracle Financial Services Software (down 0.46%), Tech Mahindra (down 0.34%) and Wipro (down 0.07%), edged lower. MphasiS rose 0.69%.
Index heavyweight and IT major Infosys dropped 1.67% to Rs 1,083.60. The stock hit high of Rs 1,100 and low of Rs 1,080.50 in intraday trade.
Metal shares declined. National Aluminium Company (down 6.57%), NMDC (down 2.62%), Hindustan Zinc (down 2.23%), Hindalco Industries (down 2.09%), Steel Authority of India (down 1.86%), Jindal Steel & Power (down 1.25%), Bhushan Steel (down 1.01%), JSW Steel (down 1.01%), Vedanta (down 0.58%) and Tata Steel (down 0.52%), edged lower. Hindustan Copper rose 1.16%.
Banking stocks edged lower. Among state-run banks, IDBI Bank (down 2.14%), Punjab and Sind Bank (down 1.77%), Canara Bank (down 1.66%), Punjab National Bank (down 1.59%), Bank of Baroda (down 1.44%), UCO Bank (down 1.33%), Andhra Bank (down 1.32%), Bank of India (down 1.27%), Union Bank of India (down 0.98%), Syndicate Bank (down 0.97%), Dena Bank (down 0.96%), Indian Bank (down 0.96%), United Bank of India (down 0.89%), Allahabad Bank (down 0.56%) and Bank of Maharashtra (down 0.47%) edged lower. Vijaya Bank (up 0.88%), Central Bank of India (up 1.51%) and Corporation Bank (up 4.35%), edged higher.
State Bank of India (SBI) fell 0.89% to Rs 228.30. The state-run bank after market hours yesterday, 21 December 2015, announced that the committee of directors of the bank at its meeting held yesterday, 21 December 2015, has authorized the bank to raise upto Rs 12000 crore by way of issue of Basel III compliant Tier II bonds, at par, through private placement.
Among private sector banks, IndusInd Bank (down 1.4%), Kotak Mahindra Bank (down 1.02%), Federal Bank (down 0.27%) and HDFC Bank (down 0.17%) edged lower. ICICI Bank (up 0.50%) and Axis Bank (up 1.18%), edged higher.
Yes Bank fell 0.89% to Rs 713.60. Yes Bank during market hours today, 22 December 2015, said that subsequent to announcing a redesigned organizational structure on 1 September 2015, the bank has appointed three top management leaders towards accelerating retail and micro, small and medium enterprises (MSME) focus including the appointment of a new Chief Operating Officer (COO) to further augment the operational service delivery. Retail and MSME lending advances currently constitute 31.8% of overall loan book of Yes Bank. Yes Bank has appointed Padhmanabhan Kumar as the new COO and senior group president, operations and service delivery. Yes Bank also appointed Neeraj Dhawan as group president and chief risk officer - retail and business banking. Rajan Pental joined Yes Bank as group head - retail lending, retail banking assets group.
The Sensex has declined 555.02 points or 2.12% in this month so far (till 22 December 2015). The Sensex has fallen 1,908.77 points or 6.94% in this calendar year so far (till 22 December 2015). From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 757.11 points or 3.05%. The Sensex is off 4,434.09 points or 14.77% from a record high of 30,024.74 hit on 4 March 2015.
In overseas stock markets, European shares witnessed a mixed trend. Asian markets edged higher, taking solace from overnight gains on Wall Street. US stocks edged higher in a choppy trading session yesterday, 21 December 2015, as investors shrugged off weak oil prices.
The Sensex fell 145.25 points or 0.56% to settle at 25,590.65, its lowest closing level since 18 December 2015. The index lost 250.73 points or 0.97% at the day's low of 25,485.17. The barometer index rose 51.31 points or 0.19% at the day's high of 25,787.21.
The Nifty fell 48.35 points or 0.62% to settle at 7,786.10, its lowest closing level since 18 December 2015. The index fell 57.60 points or 0.73% at the day's low of 7,776.85. The index rose 11.85 points or 0.15% at the day's high of 7,846.30.
The BSE Mid-Cap index fell 0.31%. The BSE Small-Cap index fell 0.02%. The decline in both these indices was lower than the Sensex's decline in percentage terms.
The market breadth indicating the overall health of the market was negative. On BSE, 1,369 shares fell and 1,305 shares rose. A total of 237 shares were unchanged.
Among sectoral indices on BSE, the S&P BSE Consumer Durables index (up 0.82%), the S&P BSE Telecom index (up 0.73%), the S&P BSE Healthcare index (up 0.31%), the S&P BSE Utilities index (up 0.03%), the S&P BSE Oil & Gas index (down 0.03%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.19%), the S&P BSE Energy index (down 0.24%), the S&P BSE Realty index (down 0.31%), the S&P BSE Power index (down 0.37%), the S&P BSE Finance index (down 0.39%), the S&P BSE Bankex (down 0.4%), the S&P BSE Capital Goods index (down 0.53%) and the S&P BSE Industrials index (down 0.55%), outperformed the Sensex.
The S&P BSE Basic Materials index (down 0.6%), the S&P BSE Auto index (down 0.66%), the S&P BSE FMCG index (down 0.81%), the S&P BSE Teck index (down 0.86%), the S&P BSE Metal index (down 1%) and the S&P BSE IT index (down 1.15%) underperformed the Sensex.
The total turnover on BSE amounted to Rs 2655 crore, higher than turnover of Rs 2505.93 crore registered during the previous trading session.
L&T fell 0.77% to Rs 1,280. The stock hit a high of Rs 1,297.90 and low of Rs 1,276 in intraday trade. The company announced after market hours today, 22 December 2015, that its Smart World & Communications business vertical is leading the way to make Jaipur India's first Smart City by creating a host of smart solutions like Wi-Fi hotspots, citizen interactive information kiosks, surveillance cameras, environmental sensors, parking information systems and remote kiosks with facility management services at select locations in the city. L&T has received the mandate from Jaipur Development Authority (JDA), which is leading the initiative to equip Jaipur with world-class digital facilities targeted primarily at the heavy tourist traffic that the city attracts. The Jaipur Smart City project has been planned in two phases with Phase 1 aimed at transforming six major locations into smart zones in the next month a and half and the remaining locations to be completed in a total of 120 days along with an Operations & Maintenance contract for 5 years. In Phase 1, L&T is completing the work at six locations, including the famous Ajmer Fort.
Index heavyweight and cigarette major ITC fell 1.63% to Rs 320.45. The stock hit a high of Rs 325.70 and low of Rs 317.65 in intraday trade.
IT stocks edged lower. TCS fell (down 1.43%), Hexaware Technologies (down 1.65%), MindTree (down 1.13%), Persistent Systems (down 0.88%), HCL Technologies (down 0.63%), Oracle Financial Services Software (down 0.46%), Tech Mahindra (down 0.34%) and Wipro (down 0.07%), edged lower. MphasiS rose 0.69%.
Index heavyweight and IT major Infosys dropped 1.67% to Rs 1,083.60. The stock hit high of Rs 1,100 and low of Rs 1,080.50 in intraday trade.
Metal shares declined. National Aluminium Company (down 6.57%), NMDC (down 2.62%), Hindustan Zinc (down 2.23%), Hindalco Industries (down 2.09%), Steel Authority of India (down 1.86%), Jindal Steel & Power (down 1.25%), Bhushan Steel (down 1.01%), JSW Steel (down 1.01%), Vedanta (down 0.58%) and Tata Steel (down 0.52%), edged lower. Hindustan Copper rose 1.16%.
Banking stocks edged lower. Among state-run banks, IDBI Bank (down 2.14%), Punjab and Sind Bank (down 1.77%), Canara Bank (down 1.66%), Punjab National Bank (down 1.59%), Bank of Baroda (down 1.44%), UCO Bank (down 1.33%), Andhra Bank (down 1.32%), Bank of India (down 1.27%), Union Bank of India (down 0.98%), Syndicate Bank (down 0.97%), Dena Bank (down 0.96%), Indian Bank (down 0.96%), United Bank of India (down 0.89%), Allahabad Bank (down 0.56%) and Bank of Maharashtra (down 0.47%) edged lower. Vijaya Bank (up 0.88%), Central Bank of India (up 1.51%) and Corporation Bank (up 4.35%), edged higher.
State Bank of India (SBI) fell 0.89% to Rs 228.30. The state-run bank after market hours yesterday, 21 December 2015, announced that the committee of directors of the bank at its meeting held yesterday, 21 December 2015, has authorized the bank to raise upto Rs 12000 crore by way of issue of Basel III compliant Tier II bonds, at par, through private placement.
Among private sector banks, IndusInd Bank (down 1.4%), Kotak Mahindra Bank (down 1.02%), Federal Bank (down 0.27%) and HDFC Bank (down 0.17%) edged lower. ICICI Bank (up 0.50%) and Axis Bank (up 1.18%), edged higher.
Yes Bank fell 0.89% to Rs 713.60. Yes Bank during market hours today, 22 December 2015, said that subsequent to announcing a redesigned organizational structure on 1 September 2015, the bank has appointed three top management leaders towards accelerating retail and micro, small and medium enterprises (MSME) focus including the appointment of a new Chief Operating Officer (COO) to further augment the operational service delivery. Retail and MSME lending advances currently constitute 31.8% of overall loan book of Yes Bank. Yes Bank has appointed Padhmanabhan Kumar as the new COO and senior group president, operations and service delivery. Yes Bank also appointed Neeraj Dhawan as group president and chief risk officer - retail and business banking. Rajan Pental joined Yes Bank as group head - retail lending, retail banking assets group.
The Sensex has declined 555.02 points or 2.12% in this month so far (till 22 December 2015). The Sensex has fallen 1,908.77 points or 6.94% in this calendar year so far (till 22 December 2015). From a 52-week low of 24,833.54 hit on 8 September 2015, the Sensex has risen 757.11 points or 3.05%. The Sensex is off 4,434.09 points or 14.77% from a record high of 30,024.74 hit on 4 March 2015.
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