Budget celebration party comes to a halt; Sensex and Nifty close in red!

Sensex heavyweights bore the brunt. Pharma also came under the wind; while IT stocks also felt the selling pressure. A few stocks among BSE 500 however managed to trade in the green, defying the general market sentiment.

While Sensex shed 770 points or 1.29 per cent, Nifty tanked by 260 points or 1.46 per cent to close at 58788.02 and 17520.25, respectively. 

The brisk sell-off taking a cue from global weakness extended in broader market indices as well. BSE 500 also lost 252 points or 1.04 per cent to close at 24045.74. Among sectors, PSU Banks and Auto sailed against the tide in green while the Sensex heavyweights bore the brunt. Pharma also came under the wind; while IT stocks also felt the selling pressure. A few stocks among BSE 500 however managed to trade in the green, defying the general market sentiment.

MAS Financial Services Ltd rallied 20 per cent on the back of a strong set of numbers for the December quarter. The NBFC reported a 13.44 per cent jump in consolidated PAT on a YoY basis at Rs 41.05 crore. The stock made an intraday high of Rs 565.70 and a low of Rs 487.90 to close at Rs 565.70. 

Blue Star Ltd also followed suit and rallied 9.12 per cent on a strong show of quarterly numbers. The consolidated net sales stood at Rs 1506.22 crore on a YoY basis with a massive jump of 34 per cent. The consolidated PAT stood at Rs 47.21 crore, a steep rise of 31.65 per cent. The stock made an intraday high of Rs 1023.35 and a low of Rs 926.90 to close at Rs 995.20. 

Amber Enterprises India Ltd has been rallying for some time with a week’s gain of 13.82 per cent and today the stock surged by 7.86 per cent. The company had a strong performance in the December quarter which was reported last week. The company was also buzzing after the acquisition of a 60 per cent stake in Pravartaka Tooling Services.