Equity indices close in the red, Tata Motors dips 5.5 pc
May 19, 2021
Mumbai (Maharashtra) [India], May 19 : Key equity indices were on a downward swing during last hour of trading on Wednesday after a choppy session amid mixed global cues.
The BSE S&P Sensex closed 291 points or 0.58 per cent lower at 49,903 while the Nifty 50 cracked by 78 points or 0.52 per cent to 15,030.
Sectoral indices at the National Stock Exchange were mixed with Nifty pharma up by 1.2 per cent and realty by 2.1 per cent. But Nifty auto, metal and private bank were in the negative zone.
Among stocks, Tata Motors skidded by 5.5 per cent to close the day at Rs 314.10 per share, a day after posting Q4 FY21 loss of Rs 7,605 crore.
Mahindra & Mahindra, Bajaj Finserv and HDFC lost by 1.7 per cent each. JSW Steel and Tata Steel were down by 1.6 per cent while Kotak Mahindra Bank and ICICI Bank slipped by 1.4 per cent.
However, Adani Green Energy Ltd (AGEL) rose by 3.8 per cent to Rs 1,244.30 per share after it announced outright acquisition of SB Energy from Softbank of Japan and India's Bharti Group in a deal worth 3.5 billion dollars (about Rs 25,700 crore), the largest such transaction in India's renewable story.
Coal India rose by 3.4 per cent, Cipla by 2 per cent, Sun Pharma by 1.9 per cent, Dr Reddy's by 0.6 per cent, agro-chemicals manufacturer UPL by 1.6 per cent and Bajaj Auto by 1 per cent.
Meanwhile, Asian stocks dipped as uncertainties over inflation prompted investors to reduce exposure to riskier assets for now.
Japan's Nikkei dropped by 1.28 per cent as economic slimp and pandemic curbs hit risk appetite.
