Benchmark indices extend decline; PSU Banks, metal stocks under pressure

Shares of TV18 Broadcast, Network18, Den networks & Hathway Cable surged up to 20% on merger news.

Feb 18, 2020 05:02 IST India Infoline News Service

Markets continue to fall after opening lower in trade today. Sensex shed 300 points at 40,756, while the Nifty is trading below the 12,000-mark, lower by 106 points.

All sectoral indices are trading in the red except Nifty Media led by TV18 Broadcast, Network 18, ZEEL. Nifty metal index is down 2.31% and Nifty PSU Banks is down 2.63%.

Shares of TV18 Broadcast, Network18, Den Networks, Hathway Cable surged up to 20% on merger news.

Shares of Vodafone Idea plunged almost 15% in today’s trade after the company on Monday said Care Ratings has downgraded the rating on its long term bank facilities and non-cnvertible debentures. The downgrade is on account of significant erosion in the overall risk profile of the company in the wake of absence of relief on modification plea relating to AGR dues on February 14.

As per DGCA Data, the domestic air passenger traffic rose by 2.2% in January.

Huhtamaki PPL surged 13% post Q3 results.

The market breadth was negative as in total 1338 stocks declines, 346 advanced and 459 remained unchanged.

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