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NEW DELHI: The bears edged past the bulls in the week gone by, with selling emerging in benchmark indices after every comeback, thanks to weakness in US stocks, a slew of less-than-expected March quarter results, and concerns over rate hike in the Fed policy review due next week. The monthly expiry of April series futures and options (F&O) contracts only added to the volatility.
The BSE Sensex ended the week at 57,061, down 851 points or 1.47 per cent. The NSE Nifty50 fell 291 points or 1.67 per cent for the week to 17,103. The broader market represented by the BSE500 index was the worst hit, shedding 414 points or 1.73 per cent to 23,552.
At least 13 stocks from the broader index fell in double digits.
The worst fall was seen in TV18 Broadcast, which lost 25 per cent or a fourth of its value last week, to Rs 53.70 apiece. Bodhi Tree Systems is set to raise and invest Rs 13,500 crore in Viacom18, a 51:49 joint venture between Reliance Industries-owned TV18 and Paramount Global. Reports indicate that TV18's stake in JV can come down to 18 per cent from 51 per cent, which is a huge negative, Times NOW reported, quoting analysts.
Media & Investments, which has a 51.17 per cent stake in TV18 Broadcast also fell 12.69 per cent for the week to Rs 86.30 apiece.
March quarter losses sent Sterlite Technology shares down 18 per cent in the five sessions. The broadband technology firm clocked a consolidated loss of Rs 22.44 crore for the March quarter compared with a profit of Rs 124 crore in the same period a year ago.
Shares of (Maharashtra) declined 16.65 per cent to Rs 139.6 after the company logged Rs 280.60 crore in losses for the March quarter. The stock in fact fell for three days in a row.
Another company that failed to meet market expectations was UTI Asset Management Company, which reported a 60 per cent drop in profit to Rs 54 crore compared with Rs 134 crore in the same quarter last year. The stock fell 16.34 per cent for the week to Rs 792.70 apiece.
RG tanked 16.10 per cent to Rs 304.85.
MMTC, Greaves Cotton, Zomato, Tata Communications, Company, Caplin Point Laboratories and Balrampur Chini Mills were some of the companies, which fell 10-13 per cent in the same period.
The BSE Sensex ended the week at 57,061, down 851 points or 1.47 per cent. The NSE Nifty50 fell 291 points or 1.67 per cent for the week to 17,103. The broader market represented by the BSE500 index was the worst hit, shedding 414 points or 1.73 per cent to 23,552.
At least 13 stocks from the broader index fell in double digits.
The worst fall was seen in TV18 Broadcast, which lost 25 per cent or a fourth of its value last week, to Rs 53.70 apiece. Bodhi Tree Systems is set to raise and invest Rs 13,500 crore in Viacom18, a 51:49 joint venture between Reliance Industries-owned TV18 and Paramount Global. Reports indicate that TV18's stake in JV can come down to 18 per cent from 51 per cent, which is a huge negative, Times NOW reported, quoting analysts.
Media & Investments, which has a 51.17 per cent stake in TV18 Broadcast also fell 12.69 per cent for the week to Rs 86.30 apiece.
March quarter losses sent Sterlite Technology shares down 18 per cent in the five sessions. The broadband technology firm clocked a consolidated loss of Rs 22.44 crore for the March quarter compared with a profit of Rs 124 crore in the same period a year ago.
Shares of (Maharashtra) declined 16.65 per cent to Rs 139.6 after the company logged Rs 280.60 crore in losses for the March quarter. The stock in fact fell for three days in a row.
Another company that failed to meet market expectations was UTI Asset Management Company, which reported a 60 per cent drop in profit to Rs 54 crore compared with Rs 134 crore in the same quarter last year. The stock fell 16.34 per cent for the week to Rs 792.70 apiece.
RG tanked 16.10 per cent to Rs 304.85.
MMTC, Greaves Cotton, Zomato, Tata Communications, Company, Caplin Point Laboratories and Balrampur Chini Mills were some of the companies, which fell 10-13 per cent in the same period.
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