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Cement, realty stocks slide

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by December 26, 2016 General

Key benchmark indices continued to trade with weakness in morning trade. At 10:21 IST, the barometer index, the S&P Sensex, was down 210.71 points or 0.81% to 25,829.99. The 50 index was currently down 67.65 points or 0.85% at 7,918.10. Weakness in stocks and index heavyweight weighed on the domestic bourses.

In side indices, the Mid-Cap index was currently down 1.4%. The Small-Cap index was currently down 1.36%. The fall in both these indices was higher than the Sensex’s decline in percentage terms.

The broad market depicted weakness and showed more than four losers against every gainer on BSE. 1,580 shares fell and 374 shares rose while a total of 81 shares were unchanged.

Overseas, Asian stocks were trading on a mixed note in light trading after Christmas with most other Asian markets closed. Markets in Hong Kong, Australia, Singapore, Indonesia, Malaysia and the US are closed today, 26 December 2016 in observance of Christmas holiday.

US stocks ended a thinly traded session on Friday, 23 December 2016 boosted by healthcare companies. In the latest economic data, new home sales rose 5.2% in November, advancing to their second-highest pace since early 2008. Separately, the final December reading on consumer sentiment rose, the latest sign of postelection optimism.

Back home, Cipla (down 2.53%), Axis Bank (down 2.11%) and ONGC (down 1.87%) were the major losers from the pack.

Index heavyweight and cigarette major lost 1.02% to Rs 222.50. The stock hit a high of Rs 224.85 and low of Rs 222.35 so far during the day.

Cement stocks fell. Ambuja Cements (down 1.07%), ACC (down 0.46%), (down 0.59%) and (down 1.96%) declined.

Grasim Industries was off 0.8%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.

Realty stocks declined. DLF (down 5.11%), Indiabulls Real Estate (down 2.48%), Housing Development and Infrastructure (down 4.48%), D B Realty (down 2.13%), Godrej Properties (down 0.1%), Prestige Estates Projects (down 1.78%), Oberoi Realty (down 2.17%) and Parsvnath Developers (down 0.72%) fell. Unitech (up 0.25%) and Sobha (up 0.08%) rose.

Reliance Defence and Engineering rose 0.92% to Rs 54.95 after Morgan Stanley Mauritius Company purchased bulk shares of the company in bulk deals on Friday, 23 December 2016. Valiant Mauritius Partners Offshore sold 68.82 lakh shares of Reliance Defence and Engineering (RDEL) at Rs 53.25 per share in a bulk deal on the on Friday, 23 December 2016. Valiant Mauritius Partners offloaded 54.40 lakh shares at Rs 53.25 a piece. Morgan Stanley Mauritius Company bought the entire 1.23 crore shares in these deals. Valiant Mauritius Partners owned 2.23% in RDEL end September 2016.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Cement, realty stocks slide

Key benchmark indices continued to trade with weakness in morning trade. At 10:21 IST, the barometer index, the S&P BSE Sensex, was down 210.71 points or 0.81% to 25,829.99. The Nifty 50 index was currently down 67.65 points or 0.85% at 7,918.10. Weakness in banking stocks and index heavyweight ITC weighed on the domestic bourses.

Key benchmark indices continued to trade with weakness in morning trade. At 10:21 IST, the barometer index, the S&P Sensex, was down 210.71 points or 0.81% to 25,829.99. The 50 index was currently down 67.65 points or 0.85% at 7,918.10. Weakness in stocks and index heavyweight weighed on the domestic bourses.

In side indices, the Mid-Cap index was currently down 1.4%. The Small-Cap index was currently down 1.36%. The fall in both these indices was higher than the Sensex’s decline in percentage terms.

The broad market depicted weakness and showed more than four losers against every gainer on BSE. 1,580 shares fell and 374 shares rose while a total of 81 shares were unchanged.

Overseas, Asian stocks were trading on a mixed note in light trading after Christmas with most other Asian markets closed. Markets in Hong Kong, Australia, Singapore, Indonesia, Malaysia and the US are closed today, 26 December 2016 in observance of Christmas holiday.

US stocks ended a thinly traded session on Friday, 23 December 2016 boosted by healthcare companies. In the latest economic data, new home sales rose 5.2% in November, advancing to their second-highest pace since early 2008. Separately, the final December reading on consumer sentiment rose, the latest sign of postelection optimism.

Back home, Cipla (down 2.53%), Axis Bank (down 2.11%) and ONGC (down 1.87%) were the major losers from the pack.

Index heavyweight and cigarette major lost 1.02% to Rs 222.50. The stock hit a high of Rs 224.85 and low of Rs 222.35 so far during the day.

Cement stocks fell. Ambuja Cements (down 1.07%), ACC (down 0.46%), (down 0.59%) and (down 1.96%) declined.

Grasim Industries was off 0.8%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.

Realty stocks declined. DLF (down 5.11%), Indiabulls Real Estate (down 2.48%), Housing Development and Infrastructure (down 4.48%), D B Realty (down 2.13%), Godrej Properties (down 0.1%), Prestige Estates Projects (down 1.78%), Oberoi Realty (down 2.17%) and Parsvnath Developers (down 0.72%) fell. Unitech (up 0.25%) and Sobha (up 0.08%) rose.

Reliance Defence and Engineering rose 0.92% to Rs 54.95 after Morgan Stanley Mauritius Company purchased bulk shares of the company in bulk deals on Friday, 23 December 2016. Valiant Mauritius Partners Offshore sold 68.82 lakh shares of Reliance Defence and Engineering (RDEL) at Rs 53.25 per share in a bulk deal on the on Friday, 23 December 2016. Valiant Mauritius Partners offloaded 54.40 lakh shares at Rs 53.25 a piece. Morgan Stanley Mauritius Company bought the entire 1.23 crore shares in these deals. Valiant Mauritius Partners owned 2.23% in RDEL end September 2016.

Powered by Capital Market – Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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