Nifty slips 52-pc, ONGC, Coal India stocks drag

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Share market benchmark indices extended their bearish run in the afternoon session, Wednesday, after selling pressure mounted in metal, banking, financial and auto stocks. The Sensex slipped 208 points at 41115.38 and the Nifty declined 63 points at 12106.90 on closing.

The Top falling stocks in the Nifty were ONGC, Coal India, NTPC, Tata Motors, and UPL, while Zeel, Grasim, Nestle India, TCS, and Adani Ports gained.

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The Nifty Media index advanced 1.73-pc led by Zee Ent (ZEEL), Dish-TV and Jagran. In contrast, the metal index slipped the most, down by 1.54 percent dragged by Coal India, Jindal Steel among others.

The Nifty CPSE (Central Public Sector Enterprises) index slipped heavily by 3.56 percent on the NSE, as NLC India, Oil India, Coal India, and ONGC dipped 5.25 to 6.25 percent. Further, Bharat Electronics, NTPC, NBCC, SJVN, and Indian Oil Cop slipped between 3 to 4 percent each in the CPSE index.

The share price hitting one-year-highs on the NSE, it appears IndiaMART, Can Fin Homes, NIIT Tech, Dr.Reddys, Jubilant Food, Century Textiles, and Torrent Power, among others. On the other hand, Cox&Kings, Havells India, Indian Oil Corp, and Oil India were among 33 stocks that hit their one-year-lows on the NSE.

Among result-action stocks, Asian Paints slipped 1.97 percent even after the paint company recorded a 20 percent higher net profit at Rs764cr, in Q3FY20, year-on-year.

Shares in Alambic Pharma slipped 2.12% despite the Company’s Q3 profit mounted at Rs.234.2-Cr, i.e, up by 37.9-pc, ON year-on-year-basis.

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