Stock Closing: Sensex, Nifty See Huge Selling; Pharma Stocks Rise

Indian stock indices ended lower today on weak global cues as the increased concern about China’s economic impact in the wake of spreading Corona-virus outbreak.

At close, the Sensex quoted lower at 41,155, down 458 points and the Nifty50 down by 129 points at 12119.

The Nifty Metal index was the lowest performer of the session dropping over 3 percent followed by Nifty PSU Bank falling 2.25 percent. Declines in Metal stocks were factored by the surge of CoronaVirus in China. JSW Steel, Jindal Steel & Power and Tata Steel slipped between 4 to 5 percent.

Nifty all Banking indices, Financial Services and Nifty FMCG also declined 1.29 percent each.

Nifty Pharma was the single performing index today, mainly pushed by Dr. Reddys and Aurbindo Pharma.

Dr.Reddys, Mahindra and Mahindra, Cipla, Ultratech Cement and Eicher Motors were among major gainers in the Nifty, while Vedanta, Tata Steel, JSW Steel, IndusInd Bank and Hindalco were top losers.

Slippage in JSW Steel come out (down 4.25 percent) after the Steel major reported a decline in Q3FY20 net profit by 88 percent to Rs 187 crore as versus Rs1603-cr, year-on-year.

Shares of ICICI Bank added another Rs.2 in share price @535.90 per share after the bank reported strong Q3 earnings.Get more informations Stock Tips and free trading tips visit our website.

Shares of Pharma major Wockhardt saw a sharp jump in share price by 20 percent to Rs.358.80 after the company added a consolidated net profit of Rs.9.00-cr in Q3FY20.

Shares of APL Apollo advanced to Rs.2060-per share, up by Rs.23.55 from the previous closing, after the company’s profits surged. At the intraday level, the share price has touched at its one-year- high levels @Rs.2219. has touched at its one-year- high levels @Rs.2219.

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