After rallying for six straight sessions, the domestic equity market took a breather on Thursday amid selling in financial counters. Meanwhile, erroneous price feeds for Bank Nifty contracts disrupted trading activity. Several brokers halted trading in Bank Nifty derivatives — the most traded index after Nifty, citing error in exchange feeds. NSE said it was examining the issue.
At the index level, the S&P BSE Sensex shed 129 points or 0.38 per cent to settle at 33,980.70, with Tech Mahindra (up over 5 per cent) being the top gainer and Asian Paints (down around 5 per cent) the biggest loser. Telecom major Bharti Airtel witnessed a sharp surge in the fag end of the session after news agency Reuters reported that Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in the telecom company.
On the sectoral front, Nifty Private Bank index took the biggest knock – down over 3 per cent to 11,128.70 levels while Nifty Bank ended 2.63 per cent lower at 20,390.45 levels.
In the broader market, the S&P BSE MidCap index ended flat at 12,333.29, down just 0.06 per cent and the S&P BSE SmallCap index shed 0.05 per cent to 11,564.79.
Among individual stocks, Reliance Industries (RIL) reclaimed the 10 trillion m-cap. The stock ended nearly 2.5 per cent higher at Rs 1,579.95 apiece on the BSE. READ MORE
Shares of Aurobindo Pharma hit a 52-week high of Rs 791 on the BSE during the day after the company reported healthy March quarter results. That apart, early today, the company informed the exchanges that the US Food and Drug Administration (FDA) has classified the inspection of the company’s oral solids formulation manufacturing facility at New Jersey as official action indicated (OAI). The stock ended at Rs 759 on the BSE, up over 1 per cent.
VST Tillers Tractors hit a high of Rs 1,310 on the BSE after the company reported strong tractors sales of 633 units in May 2020, up 23 per cent YoY, from 527 units sold in May 2019. In April, the company had posted 23.7 per cent YoY de-growth in sales. The stock ended over 12 per cent higher at Rs 1,240 apiece on the BSE. READ MORE
In Europe, stock market inched lower ahead of European Central Bank meeting where policymakers are expected to provide more aid for the battered euro zone economy.
In commodities, oil prices dropped on doubts over the ability of crude producers to agree to extend record output cuts, heightened by worries over a build in US fuel inventories.
(With inputs from Reuters)