Nifty starts November series on a negative note, but holds 10000; Sensex down 340 points

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Mumbai, Oct 26: The Nifty began November series on a negative note, but investors could take note of the fact that psychological mark of 10,000 has been held on to. The Sensex ended the session 340 points lower.
For the week that ended on October 26, 2018, both Sensex and the Nifty have lost around 3 percent.
Selling was visible across all sectors, with banks, consumption, IT, metals and pharmaceuticals witnessing weak trades. The Nifty Midcap was mildly lower. A drop in crude oil prices too failed to lift up sentiment on D-Street.
The day had begun on a negative note, following tepid global cues. While there was some recovery during the day, indices turned choppy through the afternoon session, with the Sensex swinging between loss of 100 and 300 points. A definitive downward move came through in the last hour, pushing indices lower at the end of this week.
At the close of market hours, the Sensex closed lower by 340.78 points or 1.01% at 33349.31, while the Nifty closed down by 94.90 points or 0.94% at 10030.00. The market breadth was negative 1,090 shares advanced, against a decline of 1,438 shares, while 1,087 shares were unchanged.
Bajaj Auto, Tata Motors, UPL and Titan were the top gainers, while Yes Bank, Axis Bank, and JSW Steel lost the most.
Stocks in News
Yes Bank’s shares fell 9 percent as investors reacted to its September quarter results. Brokerage houses have highlighted how the revenue could decline and loan growth needed to come down.
Shares of Equitas Holdings and Ujjivan Financial Services fell 18-23 percent as investors turned wary of RBI’s letter to the entities on listing of small finance banks.
Shares of PVR are gained a percent as the company posted a marginal 3 percent rise in its net profit for the September quarter.
Maruti Suzuki traded lower amid a subdued performance by the company for the September quarter. Brokerages believe that while there are some bumps for now, the long term story is still intact.
Brokerage houses were wary of Dish TV on the back of Reliance Jio’s GigaFiber launch as well as its acquisition of Den Networks and Hathway Cable as well. The stock, yet, ended 11 percent higher.
JSW Steel were down over 4.5 percent even as the firm reported an over two-fold jump in its consolidated net profit at Rs 2,087 crore for the September quarter.