Sensex ends 67 points down

Last Updated: Wed, Oct 19, 2016 17:38 hrs
Share markets

The Indian stock market ended lower on Wednesday after a choppy ride amid stock specific activity. The mood was cautious, with investors looking ahead to key earnings reports, ECB meeting and other economic events.

Asian markets ended mostly higher, although buying interest was subdued in most part of the region. Major European markets got off to a weak start and this rendered the mood on the Indian bourses a bit negative in afternoon trade.

The BSE benchmark Sensex ended down 66.51 points or 0.24% at 27,984.37, after swinging between 28,131.07 and 27,926.17. The Nifty50 of the National Stock Exchange ended at 8659.10, recording a loss of 18.80 points or 0.22%.

In the forex market, the rupee was trading at 66.72 against the U.S. dollar around late afternoon, up slightly from its previous close of 66.73.

FMCG, bank, automobile and realty stocks traded weak. Power, telecom, oil, fertilizers and healthcare stocks attracted buyers. Logistics stocks extended recent gains. Information technology, capital goods, metal and power stocks closed on a mixed note. Midcaps were mostly subdued, while smallcap stocks found some support.

ITC and ICICI Bank declined 2.4% and 2%, respectively. Hero Motocorp, Hindustan Unilever, State Bank of India, Asian Paints, HDFC, Tata Motors and Tata Consultancy Services shed 0.5% - 1.3%.

Zee Entertainment Enterprises, Aurobindo Pharma, Bosch, Hindalco, Eicher Motors, HCL Technologies and Kotak Bank declined 0.5% - 1.2%.

Idea Cellular zoomed nearly 7.5%. BHEL gained 3.4% On Tuesday, the Prime Minister Narendra Modi dedicated to the nation three hydro-electric projects (HEPs) with a generating capacity of 1732 MW in Himachal Pradesh.

Tata Power rose 3.1%. Wipro, Lupin and GAIL India gained 1.5% - 2.3%. Sun Pharmaceutical Industries ended nearly 1% up after the company said that it has entered into new exclusive collaboration with International Centre for Genetic
Engineering and Biotechnology to develop novel dengue vaccine for India & Global markets.

Power Grid Corporation, Dr Reddy's Laboratories, Cipla, ONGC, Bharti Infratel, BPCL and NTPC also closed on a firm note.

IDBI Bank saw some hectic buying on reports that four bidders were looking to acquire a part of the government’s stake in the lender.

ABG Shipyard rose sharply after the company said that it is exploring the possibility of strategic investors so as to improve company's financial and operational strength. For this purpose, the company said that it has appointed
Rothschild investment banker.

Endurance Technologies sparkled on its debut. The stock, opened at Rs 572, and gaining ground consistently right through the day, ended at Rs 654.40, up nearly 40% from the issue price of Rs 472, the upper end of the Rs 467 - 472 IPO band. On NSE, the Endurance Technologies counter clocked a volume of around 36.5 million shares today.

The market breadth was positive. Out of 3017 stocks traded on BSE, 1636 stocks moved up. 1168 stocks declined and 213 stocks ended flat.

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