Sensex sheds 124 points in volatile trade; Zomato surges 12%

NEW DELHI: Benchmark indices remained under pressure throughout the day and finally closed lower on Monday. Metals and pharma were in demand but banks and auto dragged the market. However, the broader market remained upbeat.

Volatility indicator jumped, signalling the creeping nervousness among traders. But comparatively, it still remains at lower levels. Weak global markets dampened the mood on the Street.

The 30-share pack Sensex declined 123.53 points or 0.23 per cent to close at 52,852.27. The index traded in a range of 320 points. Its broader peer NSE Nifty fell 31.60 points or 0.20 per cent to 15,824.45.


“Chinese education, property, and tech sectors fell sharply after tighter government regulations. Globally, markets are waiting for the upcoming Fed meeting this week to get clarity regarding the timing of asset purchase tapering," said Vinod Nair, Head of Research at Geojit Financial Services.

Market at a glance:

• After a strong debut, Zomato surges another 12 per cent
• India VIX, a barometer of volatility, rises 6 per cent
• DB Corp tanks 6 per cent after I-T Department raids
• SBI Life Insurance rises 4 per cent on strong Q1 numbers
• Yes Bank rises 2 per cent as Q1 net profit quadruples

Among the blue-chip names, SBI Life Insurance was the top gainer, rising 3.96 per cent. Bajaj Finserv, Hindalco, Divi’s Labs, UltraTech Cement, Tata Steel, Titan and Britannia were other gainers.

JSW Steel was the top loser in the Nifty pack, falling 1.80 per cent. Wipro, Reliance Industries, SBI, Bharat Petroleum, IndianOil, Tech Mahindra. M&M and Bharti Airtel were others that ended in the red.

Broader market indices ended mixed, outperforming their headline peers. Nifty Smallcap climbed 0.27 per cent and Nifty Midcap declined 0.04 per cent. Nifty 500, the broadest index on NSE, ended down 0.09 per cent.

The earnings announcement from select Nifty majors combined with global cues will dictate the trend. Meanwhile, we reiterate our view to limit leveraged positions and wait for further clarity.

-Ajit Mishra, Religare Broking

Alkyl Amines, CanFin Homes, Lux Industries, Coromandel International, Dhani Services and Max Financial Services were top gainers from mid and smallcap indices, climbing in the range of 4-10 per cent.

Navin Fluorine, M&M Financial Services, Alembic Pharmaceuticals, TV18 Broadcast, IRB Infra Developers and Happiest Minds Technologies were major losers from broader market space, falling in the range of 3-6 per cent.

Sectoral indices ended mixed on NSE. Nifty Metal climbed 0.63 per cent, followed by Nifty Pharma and Nifty Media. Nifty Realty was the top loser, down 0.96 per cent. Nifty PSU Bank and Nifty Auto were other losers.

Market breadth was in favour of gainers as 1,837 stocks ended in the green, while 1,515 names settled with cuts. As many as 519 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 30 names hit 52-week lows, mostly from the microcap space. About 595 stocks hit upper circuit limits and 290 lower circuit limits.

European markets were trading lower. London-based FTSE was down 0.26 per cent while Paris and Frankfurt declined 0.26 per cent and 0.42 per cent, respectively. In Asia, Japan and Indonesia ended in the green while others closed with losses.