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MARKET WRAP: Sensex slips 151 points weighed by auto, pharma stocks

The Nifty Auto index fell 1.19 per cent weighed by Mahindra & Mahindra (M&M) and Ashok Leyland. The Nifty Pharma index declined 1.63 per cent dragged down by Dr. Reddy's Laboratories.

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Markets, Stocks, BSE, NSE
Markets, Stocks, BSE, NSE

The benchmark indices settled around 0.5 per cent lower on Monday weighed by automobiles and pharmaceutical stocks.

The S&P BSE Sensex ended at 36,395, down 151 points or 0.41 per cent, while the broader Nifty50 index settled at 10,889, down 55 points or 0.50 per cent.

Among sectors, the Nifty Auto index fell 1.19 per cent weighed by Mahindra & Mahindra (M&M) and Ashok Leyland. The Nifty Pharma index declined 1.63 per cent dragged down by Dr. Reddy's Laboratories.

The broader market indices underperformed their benchmark peers. The S&P BSE MidCap index fell 211 points or 1.47 per cent to end at 14,118, while the S&P BSE SmallCap index settled at 13,450, down 206 points or 1.51 per cent.

BUZZING STOCKS

Shares of Sun TV Network rallied over 10 per cent to end at Rs 574.55 per share on the BSE in an otherwise weak market after the company reported net profit growth of 32 per cent at Rs 351 crore in December 2018 quarter (Q3FY19), on back of healthy revenue growth. The company’s revenue was up 32 per cent at Rs 904 crore over the previous year quarter.

Shares of Graphite India hit a 14-month low of Rs 436, down 10 per cent in intra-day, extending its 6 per cent decline in the past two trading days on BSE, after reporting subdued results for the quarter ended December 2018 (Q3FY19). The stock settled at Rs 436, down 9.99 per cent from the previous close.

GLOBAL MARKETS

Asian shares barely moved on Monday as investors were unable to shake worries about global growth, US politics and the Sino-US trade war, keeping the safe haven dollar near a six-week top against major currencies.

China's blue-chip index surged 1.6 per cent while Shanghai's SSE Composite climbed 1.2 per cent. Australian stocks recouped some losses to end 0.2 per cent lower while South Korea's KOSPI index was up 0.2 per cent. That left MSCI's broadest index of Asia-Pacific shares outside Japan was slightly firmer after it was toppled from a four-month top on Friday.

OIL PRICES

Oil prices fell on Monday as drilling activity in the United States picked up and a refinery fire in the US state of Illinois resulted in the shutdown of a large crude distillation unit.

US West Texas Intermediate (WTI) crude futures were at $52.17 per barrel, down 55 cents, or 1 per cent, from their last settlement. International Brent crude oil futures were down 27 cents, or 0.4 per cent, at $61.83 a barrel.

(with wire inputs)

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