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Sensex, Nifty dips; Pharma, Infra stocks surges

Share Source By

Dion Global

01 Jan 2019

Indian benchmark indices slipped further in the afternoon trade on Tuesday. Indices may have started on a dull on the New Year but a smart bounce in the benchmark indices during the last four sessions has made many stocks look strong on technical charts. The technical indicator has signalled an upward crossover, meaning a bullish signal, on these counters, hinting at possible upsides. Many of these stocks have also been witnessing strong trading volumes of late, adding further credibility to the emerging trend. The list includes a host of blue chips such as ICICI Bank, HCL Technologies, Lupin and Ambuja Cements. Others included Jayshree Tea, PVR, Phillip Carbon, Mahindra CIE Auto, Aegis Logistics, Future Lifestyles, Godrej Agrovet, Vinati Organics and SP Apparels, among others. Among sectors, pharmaceuticals and consumption and infra names are trading in the green, auto and IT names are trading in the red.

The 30-benchmark index at 13:17 hours was trading at 35961.55 down by -106.78 points or by -0.3 per cent and then NSE Nifty was at 10828.4 down by -34.15 points or by -0.31 per cent. The BSE Sensex touched intraday high of 36224 and intraday low of 35912.59 The NSE Nifty touched intraday high of 10885.3 and intraday low of 10813.65.

YES Bank Ltd. (Rs. 184.20,+1.35%), Axis Bank Ltd. (Rs. 625.95,+0.99%), Sun Pharmaceutical Industries Ltd. (Rs. 434.25,+0.84%), Bharti Airtel Ltd. (Rs. 314.60,+0.54%), Bajaj Auto Ltd. (Rs. 2728.00,+0.35%) were among the top gainers of the BSE Sensex. Meanwhile, Mahindra & Mahindra Ltd. (Rs. 791.00,-1.58%), IndusInd Bank Ltd. (Rs. 1577.00,-1.38%), Tata Steel Ltd. (Rs. 515.30,-1.26%), Hindustan Unilever Ltd. (Rs. 1801.90,-0.89%), Asian Paints Ltd. (Rs. 1363.50,-0.74%) were the top losers of the BSE Sensex.

Among sectors, BSE Realty index was trading at 1832.27 up by 34.44 points or by 1.92%. Prestige Estates Projects Ltd. (Rs. 229.05,+4.42%), Mahindra Lifespace Developers Ltd. (Rs. 400.45,+2.17%), Godrej Industries Ltd. (Rs. 663.50,+2.07%), DLF Ltd. (Rs. 180.95,+1.94%), Sobha Ltd. (Rs. 462.05,+1.66%). On the flip side, BSE FMCG index was at 11765.14 down by -63.93 points or by -0.54%. Ruchi Soya Industries Ltd. (Rs. 8.59,-4.98%), Pioneer Distilleries Ltd. (Rs. 171.25,-2.42%), IFB Agro Industries Ltd. (Rs. 630.00,-1.99%), Jay Shree Tea & Industries Ltd. (Rs. 88.65,-1.99%), Apex Frozen Foods Ltd. (Rs. 369.10,-1.80%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2532 , shares advanced were 1309 while 1085 shares declined and 138 were unchanged.