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Sensex down over 130 pts, M&M, RIL, IndusInd Bank top drags

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Dion Global

01 Jan 2019

The Indian benchmark indices have erased their opening gains and are now trading marginally lower weighed by select financial stocks. Most of the Asian markets are shut on account of New Year. The Wall Street advanced in low-volume trading on Monday as investors gathered to ring in 2019, marking the end of the worst year for US stocks since 2008, the height of the financial crisis. Among the sectoral indices, trading over 0.3 per cent lower dragged by IndusInd Bank, ICICI Bank and HDFC Bank. The Auto index, too, is down around 0.5 per cent weighed by TVS Motor Company, Mahindra & Mahindra and Maruti Suzuki. The shares of Atul Auto surged 17 per cent in morning trade after the company posted a strong 50 per cent growth in sales numbers for December 2018.

At 14:17 hours, BSE SENSEX was trading at 35936.38 down by -131.95 points or by -0.37 per cent and then NSE Nifty was at 10827.1 down by -35.45 points or by -0.33 per cent. The BSE Sensex touched intraday high of 36224 and intraday low of 35888.62 The NSE Nifty touched intraday high of 10885.3 and intraday low of 10807.1.

Among the top gainers of the BSE Sensex were Axis Bank Ltd. (Rs. 625.90,+0.98%), YES Bank Ltd. (Rs. 183.50,+0.96%), Sun Pharmaceutical Industries Ltd. (Rs. 433.15,+0.58%), Bharti Airtel Ltd. (Rs. 314.70,+0.58%), Tata Consultancy Services Ltd. (Rs. 1897.95,+0.23%). The top losers list of the BSE Sensex contains Mahindra & Mahindra Ltd. (Rs. 773.05,-3.81%), IndusInd Bank Ltd. (Rs. 1569.00,-1.88%), Tata Steel Ltd. (Rs. 514.55,-1.40%), NTPC Ltd. (Rs. 146.85,-1.21%), Hindustan Unilever Ltd. (Rs. 1800.00,-0.99%).

The BSE CDS index was trading high at 20763.52 by 68.89 points or by 0.33%. Crompton Greaves Consumer Electricals Ltd. (Rs. 235.00,+3.27%), Blue Star Ltd. (Rs. 625.00,+0.87%), TTK Prestige Ltd. (Rs. 7495.00,+0.39%), Rajesh Exports Ltd. (Rs. 571.75,+0.14%). Whereas, the BSE Auto index was trading low at 20640.92 by -192.81 points or by -0.93%. Mahindra & Mahindra Ltd. (Rs. 773.05,-3.81%), Apollo Tyres Ltd. (Rs. 232.60,-1.40%), TVS Motor Company Ltd. (Rs. 564.45,-1.18%), Motherson Sumi Systems Ltd. (Rs. 164.90,-1.11%), Ashok Leyland Ltd. (Rs. 101.55,-0.98%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2654 , shares advanced were 1319 while 1182 shares declined and 153 were unchanged.