NEW DELHI: Losses in index heavyweight Reliance Industries, banking and IT stocks resulted in a depressing end for equity benchmarks Sensex and Nifty on the last trading day of Calendar 2019.
Global market setup also remained weak, as investors booked profit after a buoyant year of trade. After trading on a weak note for most part of the day, selling pressure intensified towards the end of the session.
However, the market breadth leaned in favour of the buyers. Both midcaps and smallcaps fared better than the benchmark indices.
BSE barometer Sensex settled the day 304 points, or 0.73 per cent, lower at 41,254 while its NSE counterpart Nifty shut shop at 12,168, down 87 points or 0.71 per cent. BSE Smallcap index rose 0.37 per cent for the day while the Midcap index logged a marginal loss of 0.03 per cent.
For the year, Sensex gained 14.38 per cent and Nifty 12.07 per cent. BSE Smallcap index had a poor year, shedding 6.85 per cent, while BSE Midcap index declined 3.05 per cent.
“We continue to maintain our cautious stance on the Indian market in the near term, given the recent runup. Market participants would keep a close watch on auto sales data to be announced tomorrow. Apart from this, traders will track movement in oil prices and currency,” said Ajit Mishra, Vice-president for Research at Religare Broking.
MARKET AT A GLANCE:
In the Sensex universe of stocks, only five of the 30 constituents ended in the green on Tuesday.
State-run NTPC was the biggest gainer, up 2.01 per cent at Rs 119.05. The company on Tuesday said an 800 mw unit of its Darlipali Super Thermal Power Project in Odisha has become operational. With this, the total installed capacity of NTPC and NTPC group has become 49,695 MW and 58,156 MW respectively, the PSU said in a filing to BSE.
Other gainers included Sun Pharma, ONGC, PowerGrid and Ultratech Cement.
Tech Mahindra ended up being the top loser, down 2.51 per cent. It was followed by Bajaj Auto, RIL, Hero MotoCorp, IndusInd Bank and HDFC. RIL alone contributed one-third of the total losses in the Sensex.
Meanwhile, out of 50 Nifty stocks, 39 ended in the red and 11 in the green. PSU stocks like Coal India, NTPC and GAIL were the top gainers, rising up to 2.75 per cent. ZEEL, TechM, Bajaj Auto and RIL were the top losers.
In the sectoral landscape, 14 of 19 sectors ended on a weak note. BSE Utilities, Power and Realty indices were among the top sectoral gainers, while FMCG and auto topped the losers’ list.
For Calendar 2019, YES Bank emerged the biggest loser in the Nifty pack with a 74.17 per cent drop. It was followed by ZEEL (down 38.67 per cent), M&M (down 33.87 per cent), GAIL (down 32.81 per cent) and Vedanta (down 28.64 per cent).
Bajaj Finance ended the year as biggest gainer, with a 60.09 per cent gain. It was followed by ICICI Bank (up 49.63 per cent), Bharti Airtel (up 45.86 per cent) and Bajaj Finserv (up 45.03 per cent).
Asian shares ended the last trading day of the decade on a weak note, as investors locked in profits after a buoyant year of gains, driven in recent weeks by hopes of an imminent US-China trade deal. Australian shares ended the session 1.78 per cent lower but had their best year since 2009.
In a shortened session ahead of the New Year’s Eve celebrations, the pan-European STOXX 600 index shed 0.3 per cent.
China’s blue-chip CSI300 Index ended the last session of 2019 at an eight-month closing high of 4,096.58 points, up 36.1 per cent from the start of the year. The Shanghai Composite Index gained 22.3 per cent this year, and ended the year at 3,050.
Source: Economic Times