Market Wrap – Up: Sensex drops on weak global cues

Key benchmark indices edged lower in choppy trade as weakness in European and Asian stocks weighed on sentiment. MMTC slumped after the government set the floor price for divestment of 9.33% stake in the company at a massive discount, Shares of power finance companies tumbled.

The market breadth, indicating the overall health of the market, was weak. The BSE Sensex was 213.97 points down at 18827.16 & The CNX Nifty was 61.10 points down at 5699.10. Indian Rupee was 0.61% weaker against USD.

Who Moved and Why

  •  Sterlite Industries falls to 52- week low after bulk deal.
  •  Oberoi Realty recovers from record low.
  •  Titan Industries recovers from 52- week low on bargain hunting.
  •  Jet Airways jumps ahead of FIPB meet.
  •  One fourth of Apollo Tyres’ value eroded.
  •  PSU stocks fall across the board.
  •  Volumes jump at Apollo Tyres counter.
  •  Bharti Airtel recovers after 6- day 8.5% slide.
  •  Tata Coffee extends recent slide in volatile trade.
  •  J&K Bank drops ex – dividend.

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