Sensex Ends 162 Points Lower; Realty And Energy Stocks Witness Selling

India share markets witnessed selling pressure during closing hours and ended their trading session on a negative note.

At the closing bell, the BSE Sensex stood lower by 162 points (down 0.4%) and the NSE Nifty closed down by 61 points (down 0.5%). The BSE Mid Cap index ended the day down 0.7%, while the BSE Small Cap index ended the day down 0.4%.

Sectoral indices ended in the red with stocks in the realty sector and energy sector witnessing most of the selling pressure.

The rupee was trading at 69.68 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.5% and the Shanghai Composite was down by 0.1%. The Nikkei 225 was down 0.2%.

European markets were also trading on a mixed note. The FTSE 100 was down by 0.02%. The DAX was trading down by 0.3%, while the CAC 40 was up by 0.03%.

In the news from the realty sectorDLF share price was in focus today. The stock of the company witnessed selling pressure on reports of a block deal.

As per a leading financial daily, about 68.1 million shares or 3.5% shares of the company changed hands in a single block deal whose buyers and sellers were not known immediately. The company is taking all steps to become a debt-free company. On Friday, a report suggested that the company is weighing a plan to team up with General Insurance Corporation of India (GIC) to float a part real estate investment trust (REIT) in future.

Last month, the company had announced the launch of a Qualified Institutional Placement (QIP) programme to raise Rs 31.8 billion.

This is the third major fundraising from DLF. In 2007, DLF raised close to Rs 92 billion through initial public offer (IPO). In 2013, the company had raised nearly Rs 19 billion through the institutional placement programme.

Reportedly, the company intends to utilize the net proceeds primarily towards prepayment/repayment of a portion of the borrowings. As of December 31, 2018, the company's total debt and net debt aggregated to Rs 192.8 billion and Rs 173 billion.

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