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Mid-Session: Sensex, Nifty trim losses; Nifty reclaims 10,600

Share Source By

Dion Global

26 Dec 2018

Indian benchmarks have pared some of their day's losses during early afternoon trade and are now trading around 0.6 per cent lower amid decline in Bank and IT stocks. Shares of YES Bank was down by 3.59 per cent whereas IndusInd Bank was down at 2.56 per cent other banks too were trading in the red. On Corporate front, the shares of Nagarjuna Fertilizers and Chemicals rose as much as 18 per cent as the company restarted production of urea from Unit I of Kakinada Plant, Andhra Pradesh on December 23, 2018. Whereas, the shares of low-cost carrier SpiceJet were up 4% at the intra-day trade in an otherwise weak market owing to fall in crude oil prices. Oil has plunged more than 40% from a four-year high in October on the prospect of a supply glut. The airline companies benefit from the fall in the price of aviation turbine fuel (ATF), which constitutes their main expense.

At 12:17 PM, BSE SENSEX was trading at 35248.9 down by -221.25 points or by -0.62 % and then NSE Nifty was at 10594.15 down by -69.35 points or by -0.65 %. The BSE Sensex touched intraday high of 35443.99 and intraday low of 35010.82 The NSE Nifty touched intraday high of 10635.45 and intraday low of 10534.55.

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 1368.00,+0.88%), Bharti Airtel Ltd. (Rs. 311.25,+0.73%), Axis Bank Ltd. (Rs. 617.90,+0.50%), ITC Ltd. (Rs. 277.60,+0.49%), HCL Technologies Ltd. (Rs. 942.45,+0.42%), among others.

On the flip side, the top losers of the BSE Sensex pack were YES Bank Ltd. (Rs. 176.55,-3.05%), IndusInd Bank Ltd. (Rs. 1524.25,-2.57%), Sun Pharmaceutical Industries Ltd. (Rs. 415.70,-1.83%), Reliance Industries Ltd. (Rs. 1073.15,-1.55%), State Bank of India (Rs. 288.65,-1.42%), among others.

Among sectors, IT index was at 13823.3 down by -140.63 points or by -1.01%. MIC Electronics Ltd. (Rs. 1.70,-4.49%), 8K Miles Software Services Ltd. (Rs. 146.50,-3.78%), Infibeam Avenues Ltd. (Rs. 45.60,-3.49%), Quick Heal Technologies Ltd. (Rs. 205.20,-3.39%), Take Solutions Ltd. (Rs. 146.00,-3.15%),. Whereas, CDS index was at 20133.07 up by 60.5 points or by 0.3%. VIP Industries Ltd. (Rs. 516.70,+2.11%), Whirlpool of India Ltd. (Rs. 1309.80,+1.22%), Titan Company Ltd. (Rs. 890.65,+1.16%), Crompton Greaves Consumer Electricals Ltd. (Rs. 226.05,+0.87%), Blue Star Ltd. (Rs. 620.70,+0.16%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2461 , shares advanced were 722 while 1591 shares declined and 148 were unchanged.