Share Market update: Sensex falls 202 points, Nifty ends below 12,050; ONGC, Sun Pharma, NTPC top losers

Share Market update: Benchmark indices Sensex and Nifty closed in the red on first trading day of this week. While Sensex closed 202 points lower at 41,055, Nifty lost 67 points to 12,045.Of 30 Sensex stocks, 19 ended in the red. Top gainers were Titan (1.86%), Nestle India (1.70%) and TCS (0.89%). ONGC, Sun Pharma and NTPC were the top Sensex losers. Of 30 Sensex stocks, 19 ended in red.  Earlier, benchmark indices started on a positive note. While Sensex opened over 70 points higher at 41,324, Nifty climbed 18 points to 12,131. Asian markets were trading near three-week highs on Chinese efforts to cushion the blow from a coronavirus outbreak. However, Japan's Nikkei stumbled 0.7% after the country's economy shrank at the fastest pace in the December quarter since the second quarter of 2014.

Here's a look at updates of market action on BSE and NSE today:

Expert Take:

Nagaraj Shetti, Technical Analyst at HDFC Securities said, "The downside momentum continued in the market for the third consecutive session. A long negative candle was formed today, which indicates a follow-through weakness in the market. Nifty is currently nearing a crucial lower support of 12,000-11,950 levels (support as per the concept of change in polarity), which opens a possibility of another minor upside bounce from the lower levels.

The short term trend of Nifty is weak, some more weakness is likely in the next session. Crucial lower supports to be watched at 11,950 for the short term."

3: 30 pm :  Sensex closes 202 points lower at 41,055 and Nifty loses 67 points to 12,045.

3:15 pm : BSE midcap and small cap indices trading lower by 150 points each at 15,518 and 14,532, respectively.

3: 00 pm : Gold prices on Monday fell by Rs 233 to Rs 41,565 per 10 grams in the national capital on weakness in the global market, according to HDFC Securities. The yellow metal had closed at Rs 41,798 per 10 grams in the previous session.

2: 30 PM : Balkrishna Industries share price rises over 10.63% after the firm reports 48.23% rise in net profit for the quarter ended December 2019. Total income fell 1.18% to Rs 1,186.41 crore in last quarter compared to Rs 1200.59 crore on BSE.  The large cap stock hit a 52-week high of Rs 1280.10 in afternoon session today.

2: 00 pm: Muthoot Finance share price rises over 16% after the firm reported a 66 per cent rise in its consolidated net profit to Rs 803 crore in the third quarter ended December 31. The company's net profit stood at Rs 485 crore in the corresponding October-December period of 2018-19.

1: 23 pm: Market breadth was negative with 776 stocks rising against 1572 falling on BSE. 

1: 15 pm: Of 30 Sensex stocks, 16 were trading in red.

1: 00 PM : ONGC (4%) , NTPC (3%) and SBI (2%) were the top Sensex losers in afternoon session.

1: 00 pm:  Sensex falls 161 points to 41,095, Nifty loses 60 points to 12,053. 

12: 30 pm : On a net basis, foreign portfolio investors (FPIs) sold shares worth a net of Rs 704.92 crore on Friday , and domestic institutional investors (DIIs) were net buyers to the tune of Rs 219.54 crore, provisional data available with BSE showed.

12:00 pm : Bank Nifty trading 44 points lower at 30,818.

11: 15 am: Bharti Airtel share price hit all-time high of Rs 568.60 in early trade today after the telco said it has paid Rs 10,000 crore to the telecom department towards statutory dues. However, it fell 0.25% to Rs 563 in afternoon session on profit-booking. The company said it will make payment of the balance amount after self assessment exercise. "The...total amount of Rs 10,000 crore has been paid on behalf of Bharti Airtel, Bharti Hexacom, and Telenor. "We are in the process of completing the self assessment exercise expeditiously and will duly make the balance payment upon completion of the same, before the next date of hearing in the SC," Bharti Airtel said.

10: 45 am: LIC Housing Finance share price tanks 12.32% on reports of possible merger with IDBI Bank. The stock fell to Rs 361.3 level compared to previous close of Rs 412.05 on BSE.  A report by Business Standard said LIC Housing Finance could be merged with IDBI Bank. However, the report was rejected by the leadership of LIC Housing Finance in an interview with CNBC TV18.

10: 30 AM : Vodafone Idea share price gained over 18% in early trade after the telco on Saturday said it was  currently assessing the amount that it would be able to pay to DoT towards the dues calculated based on AGR (Adjusted Gross Revenue). The company proposes to pay the amount so assessed in the next few days.

10:15 am:

Expert Take

Ajit Mishra, Vice President, Research at Religare Broking said,"Since earnings season is now behind us and there's no major domestic event, global cues will dictate the market trend. Markets are closely eyeing the developments on the Coronavirus front and that will remain on the traders' radar. We advise focusing on more on defensives viz. IT, Pharma and FMCG and select private banking majors for long trades while any rebound in the PSU banking and auto can be considered to create fresh shorts."

10:00  am: Sensex, Nifty turn red. Sensex down 20 points to 41236 and Nifty down 23 points to 12,089.

9: 50 am : Market breadth was negative with 745 stocks trading higher compared to 1106 falling on the BSE.

9: 40 am: Consumer durables shares led the gains with its BSE index gaining 513 points to 27,475.

9: 35 am: On a net basis, foreign portfolio investors (FPIs) bought shares worth a net of Rs 420.65 crore on Tuesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 194.31 crore, provisional data available with BSE showed.

9: 30 am: Titan (1.94%), Nestle (1.16%) and HUL (0.98%) were top Sensex gainers.

9: 27 am: Mid cap and small cap indices were trading 10 points and 15 points higher in early trade.

9: 25 am: Top Sensex losers were ONGC (2.95%), SBI (1.31%) and HDFC (1.27%).

9: 20 am : On Friday, S&P Sensex ended 202 points lower at 41,257 and NSE 50-share index Nifty50 closed 61 points lower at 12,113.

9: 15 am : Sensex opened over 70 points higher at 41,324 and Nifty climbed 18 points to 12,131.