Indian benchmarks continued to hover in red during the noon trading session amid decline in FMCG and power stocks. Bank Nifty added half a percent led by YES Bank while Nifty FMCG and Nifty pharma shed a percent each. Overseas, European stocks look set to open on a cautious note on Friday after Reuters reported that the idea of a tariff rollback has drawn fierce opposition from many of Trump's advisers.
Among others, shares of Raymond soared 18.9 per cent to Rs 801.10 on the BSE in intra-day trade on Friday after the company announced its plan to demerge its core Lifestyle business and list it as a separate entity. Furthermore, the company announced to use the entire net proceeds from sale of land parcel by JKIT (its Associate Company) for deleveraging of its Balance Sheet.
Shares of Thyrocare Technologies rose 8 percent intraday on November 8 after company reported better numbers for the quarter ended September 2019. The company’s consolidated net profit rose 38.6 percent at Rs 35 crore against Rs 25.3 crore in a year ago period.
At 12:19 hours, the 30-share benchmark index was trading at 40591.78 down by -61.96 points or by -0.15 per cent, while the NSE Nifty was at 11977.45 down by -34.6 points or by -0.29 per cent.
In the choppy trade so-far, Sensex touched intraday high of 40630.56 and intraday low of 40452.26 The NSE Nifty touched intraday high of 11996.55 and intraday low of 11948.5.
The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 71.60,+7.67%), IndusInd Bank Ltd. (Rs. 1430.15,+3.57%), ICICI Bank Ltd. (Rs. 493.00,+2.99%), Mahindra & Mahindra Ltd. (Rs. 594.25,+2.39%), Kotak Mahindra Bank Ltd. (Rs. 1600.60,+1.03%), among others.
The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 428.45,-2.72%), Hindustan Unilever Ltd. (Rs. 2098.90,-1.82%), Tata Consultancy Services Ltd. (Rs. 2150.65,-1.59%), NTPC Ltd. (Rs. 117.65,-1.59%), Power Grid Corporation of India Ltd. (Rs. 191.35,-1.44%), among others.
Among the sectors, Realty index was at 2168.71 up by 47.67 points or by 2.25%. DLF Ltd. (Rs. 205.70,+6.88%), Indiabulls Real Estate Ltd. (Rs. 73.55,+5.00%), Housing Development & Infrastructure Ltd. (Rs. 1.91,+4.95%), Phoenix Mills Ltd. (Rs. 739.00,+3.03%), Sunteck Realty Ltd. (Rs. 440.20,+1.29%),.
On the flip side, Power index was at 1963 down by -18.22 points or by -0.92%. Adani Transmission Ltd. (Rs. 293.00,-1.97%), ABB India Ltd. (Rs. 1456.45,-1.97%), NTPC Ltd. (Rs. 117.65,-1.59%), Power Grid Corporation of India Ltd. (Rs. 191.35,-1.44%), JSW Energy Ltd. (Rs. 77.95,-1.08%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2473 , shares advanced were 1110 while 1188 shares declined and 175 were unchanged.