1. RCom slips over 5%, HDFC Bank drags Sensex, Nifty; ICICI Bank, L&T, RIL gain

RCom slips over 5%, HDFC Bank drags Sensex, Nifty; ICICI Bank, L&T, RIL gain

Indian stock markets ended a little lower on Wednesday in a choppy trade. The key equity indices Sensex and Nifty fell suddenly after 12:35 pm led by the slump in heavyweight shares such as HDFC Bank, Infosys, Maruti Suzuki, Wipro and Tata Motors.

By: | Published: January 3, 2018 4:24 PM
In the intraday trades, Sensex rose 186.11 points to hit the day’s high at 33,998.37 and Nifty added 61.4 points to mark the day’s high at 10,503.6. (Image: Reuters)

Indian stock markets ended a little lower on Wednesday in a choppy trade. The key equity indices Sensex and Nifty fell suddenly after 12:35 pm led by the slump in heavyweight shares such as HDFC Bank, Infosys, Maruti Suzuki, Wipro and Tata Motors. The profit booking in the late afternoon trade took the key indices to lose the shine at the closing bell. BSE Sensex closed 18.88 points or 0.06% at 33,793.38 after opening up by 117 points at 33,929.61 whereas NSE Nifty finished almost unchanged, up 1 point or 0.01% at 10,443.2 after starting 40 points higher at 10,482.65. In the intraday trades, Sensex rose 186.11 points to hit the day’s high at 33,998.37 and Nifty added 61.4 points to mark the day’s high at 10,503.6.

Shares of Adani Ports, L&T, ICICI Bank, and Yes Bank emerged as the only notable gainers among the Sensex stocks, rising up to 2.78% while a shares of Dr Reddy’s, Wipro, ONGC, Bajaj Auto, Maruti Suzuki, Tata Motors, HDFC Bank, Infosys, NTPC lost up to 3%. The heavyweight shares of companies such as HDFC Bank, Infosys, Maruti Suzuki, Wipro and Tata Motors contributed the most in the Sensex fall. Collectively these five stocks washed off about 102 points from the Sensex while an uptick in the shares of ICICI Bank, L&T and Reliance Industries added about 88 points, helping the index to trim the losses.

Shares of Anil Ambani’s telecom company Reliance Communications emerged as the top loser among the group ‘A’ stocks on BSE. RCom shares were trading heavily since last couple of weeks on the back of Mukesh Ambani’s Reliance Jio Infocomm finalising to acquire the wireless assets of the troubled RCom. The stock of RCom slipped as much as 7.5% to Rs 30.1 before closing down 5.71% at Rs 30.55 on NSE on Wednesday. RCom shares have been on a rising streak since 18 December 2017 and with a massive upsurge achieved in 8 trading days until 29 December 2017, shares of Reliance Communications advanced more than 250% to a 52-week high of Rs 41.77 on BSE. Being the volume topper on Wednesday, more than 25 crore shares exchanged hands far on both NSE and BSE with about 23.33 crore shares on NSE alone on Wednesday.

The other broad market indices of NSE such as Nifty Next 50, Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 50, Nifty Mid100 Free and Nifty Sml100 Free advanced in a range of 0.1% to 1.3%. On the other hand, five out of eleven sectoral indices of NSE settled in green with Nifty Metal, Nifty FMCG and Nifty Realty leading the charge while Nifty Auto and Nifty Pharma swung into losses.

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