Indian equity markets declined for the third straight session as investors adjusted their positions on expiry of Futures and options (F&O) contracts for the December series.
Banking counters, led by YES Bank, HDFC Bank, and Punjab National Bank, coupled with heavyweights like Reliance Industries, L&T, and Infosys dragged the benchmark S&P BSE Sensex 297.50 points or 0.72 per cent lower to 41,163.76 level. Bharti Airtel, RIL, L&T, and Sun Pharma slipped over 2 per cent, and were the top drags on the 30-share index. On the upside, ONGC, Tata Steel, Bajaj Finance, and NTPC gained between 1 and 2 per cent. On the NSE, the broader Nifty50 settled with 88 points, or 0.72 per cent, cut at 12,126.55-mark.
Sectorally, all the indices on the NSE, barring Nifty Metal index (up 0.58 per cent), closed the day in the negative territory. Nifty PSU Bank index was the worst performer of the day, down 1.46 per cent at close, followed by Nifty Pharma index (0.94 per cent), and Nifty Private bank and Bank indices (0.8 per cent each).
In the broader market, the mid-caps followed the frontline indices, with the S&P BSE mid-cap index down 0.16 per cent to 14,794.78- level by close. On the contrary, the S&P BSE small-cap index settled 0.41 per cent higher at 13,439.24.
Shares of Adani Green Energy were locked in the upper circuit limit for the third straight day, up 5 per cent at Rs 156 on the BSE on Thursday in an otherwise subdued market.
The stock of the Adani Group renewable power generation company is trading at its all-time high level on the bourses. It is the top gainer among the S&P BSE 500 index stocks in the calendar year 2019, with market price of the company zoom nearly four-times. In CY19, the stock soared 272 per cent from Rs 42 on the BSE. In comparison, the benchmark S&P BSE Sensex has gained 15 per cent, while the broader index S&P BSE 500 has gained 8 per cent during the year.
Shares of Dewan Housing Finance Ltd (DHFL) were locked in the upper circuit band of 5 per cen,t at Rs 15.8 on the BSE, on Thursday after media report suggested that the housing finance firm is expected to resume lending after a gap of seven months.
The corporation, which is under insolvency resolution process, is planning to resumt lending to “stay relevant in the business”.
Asian shares ended higher on Thursday with Japan’s Nikkei index up 0.6 per cent, while South Korea’s Kospi closed 0.36 per cent higher.
In the commodity market, oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-US trade war and OPEC-led efforts to constrain supply. Brent crude was up 28 cents, or 0.4 per cent, at $67.48 a barrel. West Texas Intermediate was up 25 cents, also a 0.4 per cent gain, at $61.36 a barrel