Live: Sensex Falls 400 Points; Tube Investments Surges To Record High
The Bombay Stock Exchange (BSE) logo is displayed on a biometric security and authentication device at the bourse’s building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Live: Sensex Falls 400 Points; Tube Investments Surges To Record High

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Market Check: Sensex Drops Nearly 500 Points; Nifty Near 11,900

Indian equities extended declines for the second consecutive trading session, tracking negative Asian peers as virus case rise heightened concerns.

The S&P BSE Sensex fell as much as 1.2 percent to 40,673 and the NSE Nifty 50 fell as much as 1.3 percent to 11,923.85. The broader markets represented by the NSE Nifty 500 Index fell as much as 1.2 percent.

Sectoral Check: NSE Nifty Metal Index Worst Performer

Ten out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Metal Index’s 3.2 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 0.48 percent.

GMR Infra Gains For Third Day; Shares Surge 11%

Shares of GMR Infrastructure extended gains for the third consecutive trading session. The stock rose as much as 11.4 percent, the most in nearly a year, to Rs 26.35, the highest since September 2014.

Aeroports de Paris agrees to buy a 49 percent stake in India’s GMR Airports for Rs 10,780 crore. The purchase to happen in two steps starting 24.99 percent in the coming days. The second step for 24.01 percent to require approvals from regulators includes RBI. The second step is set to be concluded in the coming months.

Trading volume was more than 15 times its 20-day average, Bloomberg data showed. The stock advanced 58 percent in the past 12 months compared to 14 percent rally in the Sensex.

F&O Check: Nifty 12,000 Call Option Premium Falls 63%

Nifty’s 12,000 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire on Feb. 27, fell 63.1 percent to Rs 43.55. About 23.44 lakh shares were added to the open interest which stood at over 37.48 lakh shares.

Tube Investments Surges Nearly 10% To Record High

Shares of Tube Investments of India extended gains for the third consecutive trading session. The stock rose as much as 9.8 percent to hit an all-time high at Rs 555.35.

Trading volume was more than three times its 20-day average, Bloomberg data showed. Of the shares traded, 40 percent were at the ask price and 44 percent were at the bid.

Ambuja Cement Swings After Results Announcement

Shares of Ambuja Cement fluctuated between gains and losses to trade 0.34 percent higher at Rs 206 after announcing December quarter results.

Key Earnings Highlights (Q4CY19, YoY)

  • Revenue rose 9.5 percent to Rs 3,135.9 crore
  • Net profit fell 15.4 percent to Rs 454.9 crore
  • Ebitda rose 35.6 percent to Rs 547.5 crore
  • Margin stood at 17.5 percent versus 14.1 percent
  • Operating Ebitda rose due to strong top-line and a decline in power & fuel and logistics costs
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