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Sensex down 114 pts, Nifty below 10,820 weighed by PSU Banks

Share Source By

Dion Global

01 Jan 2019

Indian equity markets have been trading lower on Tuesday morning. New Year kicked off on a dull note on lack of directional cues from global peers. Markets erased all gains witnessed in the opening trade and entered in the red zone. Among stocks trading in the green were Axis Bank, Bajaj Auto, Reliance Industries, SBI and Hindustan Unilever. The shares of UCO Bank, Bank of Maharashtra, Syndicate Bank and Central Bank of India were trading higher in morning deals on Tuesday after the government on Monday infused Rs 10,882 crore in these public sector banks as part of Rs 28,615 crore capital infusion to be done in about half a dozen public sector lenders. UCO Bank, Bank of Maharashtra, Syndicate Bank and Central Bank of India were up over 10 per cent, 3.83 per cent, 0.40 per cent and 1.63 per cent. The share price of Atul Auto surged nearly 11 percent intraday Tuesday as company reported healthy sales numbers for the month ended December 2018.

At 10:15 hours, the BSE SENSEX was trading at 35953.38 down by -114.95 points or by -0.32 per cent and then NSE Nifty was at 10818.35 down by -44.2 points or by -0.41 per cent.

Among the top gainers of the BSE Sensex were YES Bank Ltd. (Rs. 184.45,+1.49%), Sun Pharmaceutical Industries Ltd. (Rs. 436.90,+1.45%), Axis Bank Ltd. (Rs. 627.40,+1.23%), Bharti Airtel Ltd. (Rs. 316.05,+1.01%), Tata Consultancy Services Ltd. (Rs. 1900.95,+0.39%). Mahindra & Mahindra Ltd. (Rs. 794.55,-1.14%), IndusInd Bank Ltd. (Rs. 1581.30,-1.11%), Power Grid Corporation of India Ltd. (Rs. 197.10,-0.95%), Asian Paints Ltd. (Rs. 1361.50,-0.89%), Tata Steel Ltd. (Rs. 517.50,-0.83%) were among others top losers of the BSE Sensex.

Sector wise BSE HCS index was at 13954 up by 30.63 points or by 0.22%. Shilpa Medicare Ltd. (Rs. 396.00,+3.11%), Sun Pharma Advanced Research Company Ltd. (Rs. 192.70,+2.69%), Medicamen Biotech Ltd. (Rs. 443.40,+2.31%), Vimta Labs Ltd. (Rs. 321.00,+2.15%), FDC Ltd. (Rs. 175.40,+1.53%). On the flip side, BSE Metal index was at 11751.24 down by -88.35 points or by -0.75%. NMDC Ltd. (Rs. 95.40,-1.65%), Jindal Steel & Power Ltd. (Rs. 162.35,-1.46%), National Aluminium Company Ltd. (Rs. 64.80,-1.44%), Steel Authority of India (SAIL) Ltd. (Rs. 55.65,-1.42%), Hindalco Industries Ltd. (Rs. 223.00,-1.37%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1774 , shares advanced were 857 while 841 shares declined and 76 were unchanged.