NEW DELHI: Domestic shares slipped into the negative zone on Thursday, dragged by IT stocks. Weaker global cues amid nervousness over the Sino-US trade talks weighed on investor sentiment.
The S&P BSE Sensex dropped 73 points, or 0.21 per cent, to 35,103, while the broader Nifty50 index of the National Stock Exchange (NSE) fell 38.40 points to close below 10,700 at 10,679.
The sickness in our seas – V
Here are 10 things you need to know about today’s market.
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Rising like phoenix from ashes
Battered jewellery firm PC Jeweller made a spectacular turnaround on Thursday and rallied over 28 per cent from the day’s low after the company termed reports of arrest of MD and CEO Balram Garg by the CBI as "factually incorrect". The stock hit an intraday low of Rs 95.05 apiece on BSE. The stock eventually closed 10 per cent higher at Rs 121.45 apiece. READ MORE
Big Bull-backed firm eyes IPO
John Energy, backed by ace investor Rakesh Jhunjhunwala, has received markets regulator Sebi's go-ahead to raise an estimated Rs 350 crore through an initial public offering. The company had filed draft papers with Securities and Exchange Board of India (Sebi) in February and obtained its "observations" on April 27, as per the latest update with the regulator. READ MORE
Mark Mobius in new avatar
Veteran emerging markets fund manager Mark Mobius has teamed up with two former colleagues from US asset manager Franklin Templeton to launch investment firm Mobius Capital Partners. Carlos Hardenberg, who was lead manager for the flagship Templeton Emerging Markets Investment Trust, and Greg Konieczny, former manager of Romanian investment fund Fondul Proprietatea, which is managed by Franklin Templeton, will work with Mobius on a triumvirate investment committee. READ MORE
IndiGo crashes on poor Q4 show
Shares of InterGlobe Aviation plunged as much as 20 per cent after the owner of India’s biggest carrier IndiGo reported dismal quarterly earnings. The company on Wednesday reported 73.30 per cent YoY drop in profit at Rs 117.64 crore for the period under review. In the process, the stock erased Rs 5,476 crore from its market capitalisation. At close, the stock stood at Rs 1,205.80 apiece on BSE, down 11 per cent.