Sensex ends 135 points lower; Telecom, banking and auto stocks take hit

BL Internet Desk October 30 | Updated on October 30, 2020 Published on October 30, 2020

Nifty drops 28.40 points to 11,642.40

Stock market indices traded on a choppy note on Friday as strong upmove in oil&gas, capital goods, realty and industrials sector stocks was offset by negative trend in telecom, banking and auto stocks.

The 30-share index ended lower by 135.478 points or - 0.34 per cent, to 39,614.07. The benchmark fell to an intraday low of 39,241.87 and recouped some of its losses in late session.  It ended yesterday at 39,749.85.

On the NSE, the Nifty too was down 28.40, or 0.24 per cent, to 11,642.40. The index touched a low of 11,535.45 in the mid-session.

However, the overall market breadth was almost even with positive bias on the BSE. Out the 2,751shares traded, the declining scrips were slightly lesser at 1,239, while the number of advancing shares was at 1,339.

Major losere were Bharti Airtel, Bajaj Finance, Maruti, Hindusan UniLever, ICICI Bank, Infosys, Bajaj Auto, HDFC and Kotak Bank

On the other hand, gainers were Tata Steel, Nestle, Sun Pharma, NTPC, Reliance, TCS, and Tech Mahindra.


Also read: Companies and stocks to watch: October 30, 2020

Angel Broking surges 9 per cent

Angel Broking shares climbed 12 per cent to an intraday high of Rs 379.30. The stock finished 9 per cent up at Rs 352.45 on the BSE. It closed previously at Rs 325.55. The stock was on steroid after the report that Kuwait Investment Authority acquired a 0.52 per cent stake in the recently listed retail broking firm Angel Broking through a bulk deal on Thursday.

According to NSE bulk deal data, Kuwait Investment Authority bought 4.3 lakh equity shares at ₹321.73 a share.

The stock gained Rs 40.85, or 12.55%, to R 366.40 on the BSE. volumes traded in the counter were just above 1 lakh in the morning trades.

A couple of days back, Angel Broking had reported a strong set of earnings for the quarter ended September, with highest ever quarterly consolidated profit of ₹74.47 crore. Profits rose 47.3 per cent sequentially and 288.3 per cent year-on-year.

Also read: Hindustan Petroleum Corporation (₹179.6): Buy


Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 30, 2020
This article is closed for comments.
Please Email the Editor