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Sensex, Nifty turns green; Ashok Leyland dips 2%

Share Source By

Dion Global

04 Jan 2019

The domestic benchmark indices reversed its losses and turned green in late morning on Friday. Most PSU bank stocks were trading with gains in Friday's session, a day after a parliamentary panel asked the Reserve Bank to ease capital adequacy norms for banks and review supervisory framework PCA. Questioning the RBI's decision to keep capital adequacy norms higher than the prescribed global framework of Basel III, the lawmakers said the central bank has restricted lending capacity of banks and increased the burden on the government for the recapitalisation of PSBs.The shares of Ashok Leyland slipped to their 18-month low of Rs 95.95 apiece, dipping 2 per cent on the BSE, and extending their 4 per cent fall in the past two days after recording weak December sales numbers. The stock of commercial vehicles (CV) manufacturer was trading at its lowest level since July 3, 2017. The shares of Future Retail were trading 3 per cent lower at Rs 444 in early morning deals on Friday. The stock was trading lower for the eighth straight day after the government tightened rules for e-commerce companies.

At 11:20 hours, the BSE SENSEX was trading at 35559.07 up by 45.36 points or by 0.13 per cent and then NSE Nifty was at 10688.7 up by 16.45 points or by 0.15 per cent.The BSE Sensex touched intraday high of 35704.85 and intraday low of 35382.08 The NSE Nifty touched intraday high of 10729.4 and intraday low of 10628.65.

The top gainers of the BSE Sensex were Tata Motors Ltd. (Rs. 170.60,+2.65%), Tata Motors Ltd. (Rs. 91.25,+2.30%), Bharti Airtel Ltd. (Rs. 317.95,+1.53%), Axis Bank Ltd. (Rs. 617.20,+1.52%), Oil And Natural Gas Corporation Ltd. (Rs. 145.05,+1.29%). The top losers of the BSE Sensex were Tata Consultancy Services Ltd. (Rs. 1853.00,-2.29%), Infosys Ltd. (Rs. 656.60,-1.64%), HCL Technologies Ltd. (Rs. 935.75,-1.29%), Larsen & Toubro Ltd. (Rs. 1384.40,-0.69%), Hindustan Unilever Ltd. (Rs. 1777.00,-0.58%).

Sector wise, BSE Oil&Gas index BSE Oil&Gas index was at 13502.77 up by 102.64 points or by 0.77%. Bharat Petroleum Corporation Ltd. (Rs. 359.70,+1.93%), Indian Oil Corporation Ltd. (Rs. 134.90,+1.81%), Oil And Natural Gas Corporation Ltd. (Rs. 145.05,+1.29%), Indraprastha Gas Ltd. (Rs. 276.90,+1.21%), Hindustan Petroleum Corporation Ltd. (Rs. 250.90,+1.17%). On the flip side, BSETECk index was at 6956.89 down by -91.14 points or by -1.29%. MindTree Ltd. (Rs. 807.85,-3.18%), MphasiS Ltd. (Rs. 925.95,-2.34%), Tata Consultancy Services Ltd. (Rs. 1853.00,-2.29%), Cyient Ltd. (Rs. 607.75,-2.06%), NIIT Technologies Ltd. (Rs. 1114.75,-1.71%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2336 , shares advanced were 1052 while 1154 shares declined and 130 were unchanged.