Sensex, Nifty tumble ahead of Christmas; BPCL, Eicher Motors among worst performers

India’s stock market tumbled up to 181 points today, on the back of a festive day — Christmas eve. The street estimates already showed that the market will remain moderate due to festive sentiment. The NSE Nifty 50 index ended down 0.4 per cent at 12,214, while the S&P BSE Sensex lost 0.4 per cent to 41,461. Indian share market also followed the global market trend, which fell on Tuesday due to the same reason. BPCL, Eicher Motors, HCL Tech, Reliance Industries, and UPL were among the worst performers in the trade today. 

However, amid the bearish market, YES Bank, IndusInd Bank, JSW Steel, ONGC and Cipla were among the top gainers in trade today. Metal, pharma and realty sectors ended in green whereas, all the other sectors closed in the red.

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Today, Yes Bank ended 3.12 per cent higher and was the top gainer on the Nifty 50 index, while Bharat Petroleum Corporation was the top loser, falling by 3.1 per cent. The surge in Yes Bank share price was primarily after the bank came out of Futures & Options ban today. On the other hand, IRCTC’s announcement about tariff revision of standard meals on static units in the railway stations pushed the firm to a rise of 4.09 per cent. 

Surprisingly, the shares of Jet Airways also climbed 4.86 per cent after the lenders’ body of the bankrupt airline said it will seek fresh bids for the company. The incident took place after the airline company filed a regulatory statement that read, “The CoC passed the resolution to issue fresh invitation of Expression of Interest for the corporate debtor in the e-voting concluded on December 22, 2019”.

Meanwhile, the stock markets opened on a bullish note and traded 0.10 per cent higher on Tuesday but later the sentiment started to weaken. 

Source: Financial Express