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Share Market Update: Sensex ends 392 points lower, Nifty at 11,678; Cipla, Wipro, Tata Motors major losers

Share Market Update: BSE 30-share S&P Sensex closed 392 points lower at 39,888 and NSE 50-share index Nifty50 closed 119 points lower at 11,678.

twitter-logo BusinessToday.In        Last Updated: February 26, 2020  | 15:50 IST
Share Market Update: Sensex ends 392 points lower, Nifty at 11,678; Cipla, Wipro, Tata Motors major losers
Here's a look at the live updates of the market action on BSE and NSE today:

Share Market Update: Extending the fall for the fourth straight session, market indices Sensex and Nifty closed majorly bearish on Wednesday, following overseas trend, amid heavy sell-off in almost all sectors. BSE 30-share S&P Sensex closed 392 points lower at 39,888 and NSE 50-share index Nifty50 closed 119 points lower at 11,678. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy. Traders said market is also likely to be bearish ahead of Futures and Options expiry.

Here's a look at the live updates of the market action on BSE and NSE today:

Closing Bell

3: 50 PM

Extending the fall for the fourth straight session, market indices Sensex and Nifty closed majorly bearish on Wednesday, following overseas trend, amid heavy sell-off in almost all sectors. BSE 30-share S&P Sensex closed 392 points lower at 39,888 and NSE 50-share index Nifty50 closed 119 points lower at 11,678. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy. Traders said market is also likely to be bearish ahead of Futures and Options expiry.

India Cements sharerise 20%

1: 10 PM

India Cements share price hit upper circuit of 20% on Wednesday after brother of Avenue Supermarts founder Radhakishan Damani, Gopikishan Damani, bought 2.75 per cent stake in the cement maker. Damani's brother bought 85,22,428 shares at Rs 82.7 per share, bulk deal data on NSE showed. Radhakishan Damani himself held 1,46,24,021 shares or 4.73 per cent stake in the cement maker at the end of quarter December 31, 2019.

Share price of India Cements rose 19.95% to hit an intra day high of Rs 104.60 against previous close of Rs 87.20 on BSE

Bharti Airtel share price falls nearly 3%

12: 40 PM

Bharti Airtel share price fell in early trade today after the Sunil Mittal-led telco lost over 11,000 subscribers in December. Airtel's customer base fell to 327.29 million, according to latest subscriber data from Telecom Regulatory Authority of India. Share price of Bharti Airtel dropped 2.78% to Rs 520.45 compared to the previous close of Rs 535.35 on BSE.

Indigo shares exends losses

12:15 PM

InterGlobe Aviation share price fell in early trade today after market regulator SEBI found prima-facie violations of corporate governance and listing disclosure norms in certain related party transactions involving the firm.  Share price of InterGlobe Aviation lost 1.74% to Rs 1,352 compared to the previous close of Rs 1376.70 on BSE. InterGlobe Aviation share has lost 6.11% in three sessions.

SBI Cards IPO

12:00 PM

SBI Cards, the credit card company of India's largest lender State Bank of India, is coming out with an IPO (initial public offering) at Rs 750 to 755 per share. SBI Cards' annualised EPS (earning per share) of Rs 15.58 apiece for 2019-20 puts the company's valuation at a price to earnings (P/E) multiple of 48 times, which is on the higher side.

Rupee Today

11: 15 AM

The Indian rupee appreciated by 11 paise to 71.74 against the US dollar in early trade on Wednesday. The domestic unit, however, could not hold on to the gains and was trading at 71.78 against the dollar.

On Tuesday, rupee had settled for the day at 71.85 against the US dollar.

Global update

10: 15 AM

Asian shares fell as a US warning to Americans to prepare for the possibility of a coronavirus pandemic drove another Wall Street tumble and pushed yields on safe-haven Treasuries to record lows. Stock exchanges in Hong Kong, Seoul and Tokyo were trading with losses, while bourses in Shanghai turned positive.

US stocks continued their sharp two-day sell-off overnight trade after American health authorities said they ultimately expect the novel coronavirus to spread in the United States and are urging local governments, businesses, and schools to develop plans like cancelling mass gatherings or switching to teleworking. 

The Dow Jones Industrial Average rose 115.84 points, or 0.4%, to 29,348.03, the S&P 500 gained 15.86 points, or 0.47%, to 3,386.15 and the Nasdaq Composite added 84.44 points, or 0.87%, to 9,817.18. US Futures (Dow Jones) traded at 27,314, up 197 points or 0.73%.

Losers and gainers today

10: 00 AM

Top losers in the Sensex pack included Sun Pharma, Bharti Airtel, Tata Steel, Reliance Industries and HDFC. On the other hand, HUL, Nestle India, PowerGrid and Asian Paints were trading with gains.

Brent Today

9: 45 AM

Brent crude oil futures rose 0.50 per cent to USD 54.53 per barrel.

FII/DII action on Tuesday

9: 35 AM

On a net basis, foreign institutional investors (FPIs) sold equities worth Rs 2,315.07 crore, while domestic institutional investors bought shares worth Rs 1,565.28 crore on Tuesday, data available with stock exchanges showed.

Opening Bell

9: 20 AM

Extending the fall for the fourth straight session, market indices Sensex and Nifty opened majorly bearish on Wednesday, following overseas trend, amid heavy sell-off in almost all sectors, barring FMCG. BSE 30-share S&P Sensex traded 200 points lower at 40,075 and NSE 50-share index Nifty50 fell 60 points at 11,735. Domestic indices tracked volatility from global equities due to rising concerns over coronavirus epidemic outside China and on worries over its impact on the global economy.

Stocks to watch today on February 26

9: 00 AM

IndiGo, Wockhardt, Sanofi, Asian Paints among others are the top stocks to watch out for in Wednesday's trading session

Last Close

8:45 AM

On Tuesday, domestic market benchmarks Sensex and Nifty erased early gains and closed bearish, backed by heavy selling in pharma stocks. BSE 30-share S&P Sensex rose 78 points higher at 40,441 and NSE 50-share index Nifty50 traded 8 points higher at 11,837. Domestic indices tracked volatility from global equities due to rising concerns over Chinese coronavirus epidemic.

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