Caution crept in ahead of fourth quarter earnings of Reliance Industries and release of minutes from RBI's last policy meet.
"Investors resorted to mild profit booking post the recent rally given truncated week on account of extended holidays and mixed global cues. Investors turned cautious ahead announcement of results from key index heavyweights including large corporate banks," said Vinod Nair, Head of Research, Geojit Financial Services.
Sensex closed 135 points, or 0.34 per cent, lower at 39,140.28, while Nifty finished with a loss of 34 points or 0.29 per cent at 11,752.80.
Let's take a look at the highlights of Thursday's session:
Jet shares sink 32%
Jet Airways shares plunged 32.23 per cent to close at Rs 163.90. The company has temporarily suspended all flights with no cash to run operations. While Jet was running a bare minimum 35-40 flights for the last few days, a total grounding will significantly affect its value for potential investors that are undergoing a bidding process to invest in the airline, an ET report said.
RBL Bank slips post Q4 results
The private lender reported a jump of 39 per cent in profit to Rs 247.2 crore for the fourth quarter ended March 31. However, the market gave a thumbs down to the numbers as the stock settled 0.71 per cent down at Rs 676.10.
RIL shares jump 3% ahead of Q4 numbers
Shares of Reliance Industries closed 2.79 per cent up at Rs 1,382.90 ahead of its March quarter numbers. Market experts expect flattish profit growth and lower petchem earnings due to weakness in margins. Meanwhile, Saudi Aramco has evinced interest in buying a minority stake in the company’s refining business.
SpiceJet shares extend gains
Extending gains into fifth successive session, shares of SpiceJet closed 2.68 per cent higher at Rs 136.25, gaining from the troubles of rival Jet Airways, as analysts say in the aviation industry, the fall of one player brings handsome gains to rivals. The company is expanding its regional fleet and is set to launch new international flights from Mumbai from May-end.
Mindtree shares end in the red
Shares of Mindtree closed 0.31 per cent down at Rs 969.10, a day after it announced a total dividend of Rs 27 per share. The board of directors declared an interim dividend of Rs 3 per share on the face value of Rs 10 each. The company fixed April 27 as the record date for payment of the interim dividend.
DCB Bank shares end with nominal gains
The bank’s profit rose 50 per cent to Rs 96 crore for the fourth quarter ended March 31 on healthy core income and restricted bad assets. However, numbers failed to excite the market as the stock closed with a nominal gain of 0.35 per cent at Rs 202.75.
173 stocks hit lower circuits
As many as 173 stocks, including Reliance Communications, 8K Miles Software Services, Malu Paper Mills, Blue Coast Hotels and Madhucon Projects, hit their lower circuits on BSE. On the other hand, Rane Brake Lining, 5Paisa Capital and Mahamaya Steel Industries were among the 144 stocks that hit their upper circuits.
45 stocks enter overbought zone
Momentum oscillator Relative Strength Index, or RSI, showed SpiceJet, PC Jeweller, Colorchips New Media, Suyog Telematics and Galaxy Bearings among 45 stocks that entered the overbought zone. However, 40 stocks, including Reliance Communications, Diligent Media Corp, Atlas Jewellery and Gilada Finance entered the oversold zone on BSE.
126 stocks show bearish signal
Momentum indicator moving average convergence divergence, or MACD, showed bearish crossovers on 126 counters on BSE, indicating that these stocks may witness fall in the coming sessions. Among stocks with bearish crossovers were Reliance Power, SAIL, Dish TV India, Jindal Steel, HCL Technologies and ITI. Vodafone Idea, JSW Steel, Balrampur Chini, Bandhan Bank and 5Paisa Capital were among the 59 stocks that showed bullish crossovers.
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10 April 2019