NEW DELHI: After two days break, rejuvenated bears came back and conquered Dalal Street with ease on Thursday.
A free fall in the rupee coupled with panic selling in industry heavyweights Infosys, RIL and Sun Pharma, ahead of Trump tariffs on China dragged the market lower on Thursday.
At the bell, the S&P BSE Sensex stood at 35,574, down 71 points, while NSE's Nifty50 slipped 20.15 points to 10,749.
In today's After Market we bring you –
· Chart reading for Nifty;
· Insider trade details;
· Block deals;
· Volume gainers &
· Update on newly-listed stocks
Tata Motors skids on Brexit warning
The stock hit 52-week low after unit Jaguar Land Rover warned that a hard Brexit would cost £1.2 billion a year in trade tariffs and make it unprofitable to remain in the UK. At close, shares stood at Rs 261.50 apiece on BSE, down 2 per cent.
Block deals in NTPC, PowerGrid
NTPC ended over half a per cent lower at Rs 152 after 37.3 lakh shares changed hands in a single block deal on the BSE. Power Grid closed 0.77 per cent down at Rs 182 after 19.9 lakh shares changed hands in a single block deal.
10,800-10,860 key hurdle for Nifty
The Nifty50 formed 'Bearish Belt Hold' pattern on the daily chart. The entire process of distribution over last several sessions seems to be taking form of a distribution triangle. A medium-term falling trend-line and upper end of a possible distribution triangle i.e. 10,800-10,860 shall be the key hurdle zone to watch out for. On the downside, a breach of the support zone between 10,604 and 10,557 shall trigger a major decline.
JP, Dish TV among volume gainers
JP Associates, Dish TV India, IDBI Bank, YES Bank and Tata Motors were the most active stocks in terms of volume. RIL, Infosys and Maruti Suzuki were most active stock in terms of value.
Infy bleeds on trade war fears
The IT major fell as much as 5.63 per cent to Rs 1,268 apiece, their biggest daily percentage loss since April 16 on trade war tensions. The stock has plummeted after breaching a support at Rs 1,325, the 61.8 per cent Fibonacci projection level of the uptrend from October 5, 2012 low to June 3, 2016 high.
RITES slips, Fine Organic flat
Shares of newly-listed RITES slipped 4.25 per cent to settle at Rs 197.20 apiece on BSE while those of Fine Organic Industries ended flat at Rs 818.05 apiece on BSE.
BSE data showed Arpit Tandon, an employee of HDFC, has revoked 605 equity shares. Jalgaon Investments, the promoter of Jain Irrigation Systems, has acquired 1,00,000 shares via market purchase.