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Mid Session: Sensex, Nifty rangebound; Power stocks fall

Share Source By

Dion Global

08 Jan 2019

Indian benchmark indices are trading largely flat with some positive bias amid mixed Asian cues on Tuesday afternoon. Asian shares rose for the third straight session on Tuesday as investors bet that Washington and Beijing are inching toward a trade deal and that US Federal Reserve would halt its tightening if economic growth slows further. IT and pharma are trading in the green, while majority of sectors are trading in red. Power shares were trading lower with the S&P BSE Power index down 0.3 per cent at 1980.38 . The shares of Bharat Heavy Electricals (down 1.38 per cent), Power Grid Corporation of India (down 1.11 per cent), KEC International (down 0.75 per cent ) and Thermax (down 0.62 per cent) were trading in losses.

At 12:16 hours, the BSE SENSEX was trading at 35852.43 up by 2.27 points or by 0.01 per cent and then NSE Nifty was at 10758.6 down by -13.2 points or by -0.12 per cent. The BSE Sensex touched intraday high of 35968.08 and intraday low of 35753.95 The NSE Nifty touched intraday high of 10798.85 and intraday low of 10733.25.

The top gainers of the BSE Sensex were Sun Pharmaceutical Industries Ltd. (Rs. 441.95,+2.77%), Tata Motors Ltd. (Rs. 178.85,+2.05%), ICICI Bank Ltd. (Rs. 375.00,+2.04%), YES Bank Ltd. (Rs. 189.65,+1.44%), Bharti Airtel Ltd. (Rs. 328.65,+1.29%), among others.

The top losers of the BSE Sensex were Kotak Mahindra Bank Ltd. (Rs. 1232.75,-1.19%), Power Grid Corporation of India Ltd. (Rs. 196.05,-1.18%), Hindustan Unilever Ltd. (Rs. 1764.00,-1.16%), HDFC Bank Ltd. (Rs. 2104.90,-0.71%), Mahindra & Mahindra Ltd. (Rs. 724.60,-0.69%), among others.

Among sectors, BSE Bankex index was at 30646.68 up by 95.32 points or by 0.31%. ICICI Bank Ltd. (Rs. 375.00,+2.04%), City Union Bank Ltd. (Rs. 193.20,+1.95%), YES Bank Ltd. (Rs. 189.65,+1.44%), State Bank of India (Rs. 298.40,+0.91%), Federal Bank Ltd. (Rs. 94.85,+0.90%). On the flip side, BSE Power index was at 1978.45 down by -7.9 points or by -0.4%. Bharat Heavy Electricals Ltd. (Rs. 71.35,-1.25%), Power Grid Corporation of India Ltd. (Rs. 196.05,-1.18%), KEC International Ltd. (Rs. 289.90,-0.62%), Thermax Ltd. (Rs. 1136.00,-0.53%), Torrent Power Ltd. (Rs. 263.00,-0.45%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2461 , shares advanced were 1088 while 1215 shares declined and 158 were unchanged.