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At 11:50 AM, the BSE Sensex was trading at 35,699 points, down by 325 points, while the NSE Nifty was trading lower at 10,672, losing over 100 points.
Closing Bell: Sensex slumps 360 points, Nifty tanks 100 points; Zee Entertainment up 15% after con call
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The Indian market closed weak on Monday with the BSE Sensex at 35,656 points, down by 368 points and the NSE Nifty at 10,661 points, losing more than 100 points at 11:50 AM as investors remained jittery ahead of the announcement of the Interim Budget on Friday.
Zee Entertainment rose in trade, gaining 15 percent after the company, in the pre-market hours, said it agreed with its lenders to not sell its stake if the valuation drops. It was the top index gainer of the hour.
Adani Ports tanked 20 percent in intra-day trade in the opening hour and lost more than 12 percent towards the close. However, the exact reason for the stock reaction has not been determined.
Zee Entertainment, L&T, TCS, Coal India and Bharti Infratel were the top index gainers while Adani Ports, Indiabulls Housing, Yes Bank, Bajaj Finserv and Bajaj Finance were the top index losers of the market session.
(Closing Bell update as of 03:30 PM)
The Indian market extended losses on Monday around noon with the BSE Sensex trading at 35,699 points, down by 325 points and the NSE Nifty trading at 10,672, losing more than 100 points at 11:50 AM. Investors remained jittery ahead of the announcement of the Interim Budget on Friday.
Zee Entertainment continued to rise in trade, gaining 9 percent after the company, in the pre-market hours, said it agreed with its lenders to not sell its stake if the valuation drops. It was the top index gainer of the hour.
TCS, Wipro, L&T, Bharti Infratel were among the other top index gainers around noon. At 11:50 AM, Larsen and Toubro was gaining 1.47 percent as it posted robust Q3 results on Friday. The company reported a 37 percent increase in its Q3 net profit on higher orders.
Adani Ports, Indiabulls Housing, ICICI Bank UltraTech Cement and Yes Bank were among the top index losers. Adani Ports tanked 20 percent in intra-day trade in the opening hour. However, the exact reason for the stock reaction has not been determined.
The BSE Sensex, in the opening hour, was trading at 35,834 points, down by 194 points, while the NSE Nifty was trading slightly lower at 10,710, losing over 60 points.
Facing mounting pressure, US President Donald Trump agreed on Friday to temporarily end a 35-day-old partial US government shutdown without getting the $5.7 billion he had demanded from Congress for a border wall.
The shutdown had left investors anxious and frustrated as it came at a time of heightened worries over slowing global growth, signs of stress in corporate earnings and a still unresolved Sino-US trade war.
First Published: Jan 28, 2019 12:33 PM IST