SENSEX down 200 pts, NIFTY slips 60 pts; Patanjali Foods falls 3% on block deal

At 09:26 AM, the 30-share index of the BSE was trading at 82,770.95 levels, down 192 points, or 0.23%, and the broader NIFTY50 index of the NSE was quoting 61 points, or 0.24%, lower at 25,327.75 points. 

Asian Paints (down over 1.5%) was the top loser on the SENSEX, followed by Bajaj Finance and M&M. On the flip side, JSW Steel (up over 1%) was the biggest gainer. 

Top gainers and losers on the NSE

Among individual stocks, Patanjali Foods slipped 3% after news reports said 3.3% equity of the company changed hands in the block deal window. 

Shares of Nazara Technologies were trading over 2% lower at ₹985 apiece on the BSE after the company announced the acquisition of a 47.7% stake in Moonshine Technology (“MTPL” or “Moonshine”), the parent company of PokerBaazi, India’s top online poker gaming platform, for ₹832 crore through a secondary transaction.

Additionally, Nazara will inject ₹150 crore in primary capital into Moonshine via compulsory convertible preference shares.

Broader market

The BSE MidCap index was trading 0.30% higher at 49,160.20 levels, while the BSE SmallCap index was trading at 56,934.46, up 0.61%. 

Sector Watch

Metal stocks rallied the most. The S&P BSE Metal index was trading over 1% higher at 31,978.25 levels. 

Global Markets

Shares in Asia advanced after traders raised bets back to 41% for a 50-basis point US rate cut on September 18, according to LSEG data at 0155 GMT, from about 28% before articles in the Financial Times and Wall Street Journal each called the decision "a close call".

Gold extended Thursday's 1.9% climb to reach a fresh record high of $2,567.93, buoyed by the dollar's weakness.