Media stocks were under the spotlight amid the announcement of the ZEE-Sony merger. Realty stocks also saw massive buying as Karnataka cut stamp duty. However, banks and financial services ended down.
The 30-share pack Sensex fell 77.94 points or 0.13 per cent to close at 58,927.33. The index gyrated 300 points before closing. Its broader peer NSE Nifty declined 15.35 points or 0.09 per cent to 17,546.65.
“Realty stocks were in focus also because of an increase in property registrations in September while easing jitters over the Chinese economy bolstered metal stocks. Investors traded cautiously awaiting the outcome of the FOMC meeting that will clear the air regarding Fed’s tapering plans,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Zee Entertainment surges 30 per cent on merger announcement with Sony
- Nucleus Software zooms 13 per cent as its board considers buyback
- IPO watch: Paras Defence subscribed 35 times on Day 2
- Mphasis gains 2 per cent after it acquires US-based Blink Interactive
- ITC adds another per cent after Jeffries increases weightage
Among the bluechip names, Coal India was the top gainer, rising 3.61 per cent. Tech Mahindra, Hindalco, Tata Motors, M&M, Bharat Petroleum, JSW Steel and HCL Tech were other gainers.
Nestle India was the top loser in the Nifty pack, falling 1.47 per cent. HDFC, ICICI Bank, ONGC, HDFC Bank, Kotak Mahindra Bank, HUL, Divi’s Labs and Axis Bank were others that ended in the red.
Broader market indices ended higher, outperforming their headline peers. Nifty Smallcap rose 1.44 per cent and Nifty Midcap climbed 1.67 per cent. Nifty 500, the broadest index on NSE, ended up 0.30 per cent.
Century Textiles, Linde India, TV18 Broadcast, Balkrishna Industries Aditya Birla Fashion Retail and Apollo Tyres were top gainers from mid and smallcap indices, climbing in the range of 5-10 per cent.
Voda Idea, CESC, Crompton Greaves Consumer Electricals, KEC International, SpiceJet and Aegis Chemicals were major losers from broader market space, falling in the range of 2-5 per cent.
MORE TO COME…
