Indices end flat on the last day of Samvat 2074; PCJ tanks 12%

New Delhi: Paring most of the morning gains, the domestic benchmark indices ended the last trading day of Samvat 2074 on a flat note on Tuesday amid selling in banking and FMCG counters. The S&P BSE Sensex slipped below the crucial 35,000-mark to settle at 34,992, up 41 points while NSE’s Nifty50 index gained just 6 points to close at 10,530.

For Samvat 2074, the S&P BSE Sensex recorded a gain of over 7 per cent.

Among individual stocks, Cipla hit a five-month low during the trade, extending its Monday’s 7 per cent decline on the BSE, due to a weak outlook for the second half of the current fiscal (H2FY19). The pharmaceutical major said there was pressure on the tender business, supply disruptions, commodity inflation and business impact from countries hit by sanctions. The stock ended at Rs 532 apiece on BSE, down nearly 6 per cent. PC Jeweller tanked 12 per cent to settle at Rs 83 levels.

In the sectoral universe, PSU banks ended the day lower with the Nifty PSU Bank index slipping 2.23 per cent. FMCG stocks were the second biggest losers, followed by auto pack.

Stock markets will remain closed on Wednesday and Thursday for ‘Diwali Laxmi Pujan’ and ‘Diwali Balipratipada’. The BSE and NSE will conduct a special ‘Muhurat’ trading session on Wednesday, November 7 between 5:00 pm and 6:30 pm, the stock exchanges had said on Friday.

Join us on www.business-standard.com at 4pm on November 7 as we cover Muhurat trades LIVE

Asian shares inched up on Tuesday, supported by Wall Street gains although momentum was tempered ahead of the US midterm elections, the first major electoral test of President Donald Trump’s big tax cuts and hostile trade policies.

MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.4 percent on a positive lead from Wall Street, but the gains were capped by falls in Chinese markets and regional technology shares.

(Except for the headline, this story has not been edited by The Kashmir Monitor staff and is published from a syndicated feed.)