POST MARKET
The benchmark equity indices Sensex and Nifty tumbled sharply by more than 3 percent on Thursday, snapping a three-day rally, amid a spike in crude oil prices and weak global cues.
At close,
Sensex ↓↑ down 2,496.89 points or 3.26 percent lower at 74,207.24
Nifty ↓ down 23,002.15, down 775.65 points or 3.26 percent.
Market breadth was negative as about 864 shares advanced, 3048 shares declined, and 122 shares remained unchanged.
Top gainer – ONGC, Oil India
Top losers – Petronet LNG, Shriram Finance, Hindustan Petroleum, PG Electroplast, and NBCC (India)
All 16 major sectoral indices on the Nifty traded in the red, with financial and banking stocks declining around 3 percent each, led by heavy selling in HDFC Bank.
Broader markets also remained under pressure, with the Nifty Smallcap100 and Nifty Midcap100 indices falling about 2 percent each.
STOCKS IN NEWS
Butterfly Gandhimathi Appliances
Shares of household appliances company Butterfly Gandhi Appliances rose by over 12 percent on Thursday, tracking a surge in demand for induction cooktops and electric kettles amid escalating tensions in West Asia. The stock has risen for the past two trading sessions.
Petronet LNG
Petronet LNG shares fell up to 6.76 percent on Thursday after Qatar reported damage following an Iranian missile strike at Ras Laffan, the world’s largest liquefied natural gas (LNG) facility. The decline in the stocks comes amid concerns over potential disruptions in LNG supply.
ONGC
Shares of Oil and Natural Gas Corporation (ONGC) have increased by over 1.5 percent following a sharp spike in oil prices, amid the closure of the Strait of Hormuz.
Nazara Technologies
Shares of the company went down almost 5.5 percent, despite the company’s wholly owned subsidiary, Nazara Technologies UK, having signed definitive agreements to acquire a 50% controlling stake in social gaming platforms Bluetile Games SL and BestPlay Systems SL for $100.3 million (Rs 918 crore).
Source – Moneycontrol
