Markets

News Details

( 09 Nov 2018)
Mid-Session: Sensex flat, Nifty above 10,600; IT, metal stocks drag

Indian benchmarks continued to trade flat during the noon trading session amid weak global cues. Asian stocks dipped on Friday as Wall Street took a breather after the Federal Reserve kept intact its plans to continue raising interest rates at a gradual pace, with the fourth hike for this year expected next month.

The US Federal Reserve held interest rates steady on Thursday but remained on track to keep gradually tightening borrowing costs, as it pointed to a healthy economy that was marred only by a dip in the growth of business investment.

In stock-specific action, Bharti Airtel is trading over 2 per cent lower after Moody's Investors Service placed it's rating on review for downgrade, following low levels of profitability and expectation of weak cash flow.

At 12:36 hours, the 30-share benchmark index was trading at 35205.2 down by 32.48 points or by 0.09 per cent, while the NSE Nifty was at 10606.2 up by 7.8 points or by 0.07 per cent.

In the choppy trade so-far, Sensex touched intraday high of 35287.29 and intraday low of 35011.23 The NSE Nifty touched intraday high of 10619.55 and intraday low of 10544.85.

The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 225.30,+4.31%), Asian Paints Ltd. (Rs. 1299.75,+3.91%), Sun Pharmaceutical Industries Ltd. (Rs. 599.75,+2.98%), Adani Ports & Special Economic Zone Ltd. (Rs. 333.35,+2.07%), Hero MotoCorp Ltd. (Rs. 2939.80,+1.72%), among others.

The top losers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 298.75,-2.35%), Infosys Ltd. (Rs. 660.25,-2.33%), Wipro Ltd. (Rs. 320.30,-1.57%), Tata Steel Ltd. (Rs. 572.20,-1.42%), ITC Ltd. (Rs. 277.30,-1.02%), among others.

Among the sectors, HCS index was at 14665.46 up by 129.89 points or by 0.89%. Gufic BioSciences Ltd. (Rs. 105.25,+8.56%), Nectar Lifesciences Ltd. (Rs. 23.65,+3.50%), Marksans Pharma Ltd. (Rs. 34.00,+3.50%), Medicamen Biotech Ltd. (Rs. 480.00,+3.16%), Sun Pharmaceutical Industries Ltd. (Rs. 600.60,+3.13%),

On the flip side, IT index was at 14192.22 down by -163.94 points or by -1.14%. Brightcom Group Ltd. (Rs. 3.30,-4.35%), Xchanging Solutions Ltd. (Rs. 47.90,-4.01%), Intellect Design Arena Ltd. (Rs. 263.05,-2.66%), KPIT Technologies Ltd. (Rs. 215.60,-2.40%), Infosys Ltd. (Rs. 660.50,-2.29%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2511 , shares advanced were 1268 while 1092 shares declined and 151 were unchanged.