NEW DELHI: The equity market snapped its winning streak of last four sessions on Thursday as investors booked profit in banking, financials and energy stocks in the runup to key December quarter earnings.
Cautious global cues also dented sentiment, as weak Chinese macro numbers rekindled concerns over a slowing global economy.
Sensex slipped 106 points, or 0.29 per cent, to 36,106, while Nifty finished 34 points, or 0.31 per cent, down at 10,821. Midcaps and smallcaps outpaced Sensex, as their sectoral indices climbed up to 0.49 per cent.
We walk you through key highlights of Thursday's session
Bank, financial stocks drag Sensex
Private lenders weighed in on Sensex heavily. IndusInd Bank (down 2.15 per cent), Kotak Mahindra Bank (down 1.42 per cent), ONGC (down 1.37 per cent), Maruti (down 1.07 per cent) and Axis Bank (down 1.05 per cent) emerged as top five losers in the Sensex pack, in that order. HDFC (down 0.72 per cent), ICICI Bank (down 0.60 per cent) and HDFC Bank (down 0.31 per cent) proved the biggest drag on the index. Analysts said higher NPAs in Q3 earnings of IndusInd Bank and Bandhan Bank spooked sentiment.
Oil & gas top sectoral loser
Wobbly oil prices in global markets exerted pressure on shares of oil marketing companies (OMCs). The BSE Oil & Gas index led the pack of sectoral losers, falling nearly 1 per cent on losses in shares of HPCL (down 2.38 per cent), BPCL (down 1.60 per cent) and Indian Oil Corporation (down 1.59 per cent). ONGC (down 1.37 per cent) and Oil India (down 1.05 per cent) also added downward pressure.
Bandhan Bank rises after Q3 numbers
Private lender Bandhan Bank reported a 10.41 per cent year-on-year (YoY) rise in net profit at Rs 331.27 crore for the December quarter. Net interest income (Nll) increased 53.5 per cent to Rs 1,124 crore from Rs 732 crore in the year-ago period. The stock gained 3.82 per cent to Rs 471.70 after logging losses for six straight sessions.
Vakrangee surges 5%
Shares of technology firm Vakrangee closed 4.99 per cent higher at Rs 37.90 after the company said the Ministry of Corporate Affairs (MCA) did not find any irregularity in its book following a probe into the resignation of auditors, abnormal trading of the stock and consequent action taken by stock exchanges and on changes in shareholding structure, among other issues.
Linde India touches 52-week high
Shares of Linde India touched a 52-week high of Rs 773 before settling 8.36 per cent higher at Rs 745, after promoters BOC Group proposed delisting of shares following acquisition of 2,13,21,056 fully paidup equity shares. In a regulatory filing, BOC said it intends to obtain full ownership of equity shares of Linde India “which will provide the promoter group with operational flexibility to support the companys business and future financing needs.” The BOC Group currently holds 75 per cent.
Goa Carbon falls 2% on Q3 loss
Shares of Goa Carbon closed 2.03 per cent down at Rs 531.10, after it posted a net loss of Rs 4.90 crore for December quarter against Rs 22.50 crore profit in the same quarter a year ago. Revenue for the quarter declined nearly 50 per cent to Rs 94.27 crore from Rs 187 crore in the year-ago quarter.
AGC Networks surges 10%
Shares of IT consulting and software firm AGC Networks surged 9.98 per cent to Rs 115.20 after it acquired US digital solutions provider Black Box Corporation. The acquisition would add $600 million to AGCs revenue, taking its combined revenue to over $750 million, and global headcount to more than 4,000 people.
Delta Corp falls after Q3 numbers
Delta Corp reported Rs 50.53 crore profit for December quarter against Rs 44.74 crore reported for the year-ago period. The numbers failed to enthused investors and the stock fell 1.55 per cent to Rs 258 on BSE. The company announced an interim dividend of Rs 0.60 per share.
110 stocks give bearish signals
Momentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 110 counters on BSE. Among them were ONGC, NMDC, MTNL, IDFC, JK Tyre, Jagran Prakashan, Khadim India and Greenlam Industries. On the other hand, 77 stocks including DLF, Hudco, National Fertilizers, Max Financial Services, Wockhardt and UPL, showed bullish crossovers.
Infratel, Kotak Bank below 200-DMAs
Bharti Infratel, Kotak Mahindra Bank, NHPC, SBI Life Insurance, DCM Shriram and Jyothy Laboratories were among the stocks that witnessed negative breakouts and traded below their 200-DMAs. GSFC, GE T&D India, Manappuram Finance, Triveni Turbine and Max Financial Services were among the stocks that traded above their 200-DMAs.
190 stocks hit lower circuit
As many as 190 stocks, including SMS Lifesciences India, 5paisa Capital, Nagreeka Capital & Infrastructure, Prakash Steelage and Oceanaa Biotek Industries, hit lower circuits on BSE. On the other hand, 161 stocks including GTL, Brightcom Group, AGC Networks, Bombay Dyeing, SORIL Infra Resources and 8K Miles Software Services hit upper circuits.