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Sensex trades flat, Nifty below 10900; Eicher Motors slips 3%

Share Source By

Dion Global

12 Feb 2019

Indian benchmark indices opened on a flat note on Tuesday amid firm Asian markets which rose on the possibility of the US-China striking a deal to end the ongoing tariff war. The rupee was trading 7 paise higher at 71.10 against the US dollar on Tuesday on account of some selling in American currency by banks and exporters. The shares of Eicher Motors slipped 3 per cent in the early trade despite reporting a 2.39 per cent increase in consolidated profit after tax at Rs 532.95 crore in the third quarter ended December 31, 2018. The shares of Axis Bank slipped over 1 per cent in the early trade as the government plans to hit the market with an offer for sale (OFS) for offloading its stake in Axis Bank that it holds through the Specified Undertaking of Unit Trust of India (SUUTI).

At 9:36 hours, the SENSEX was trading at 36401.04 up by 6.01 points or by 0.02 per cent and then NSE Nifty was at 10889.65 up by 0.85 points or by 0.01 per cent.

The top gainers of the BSE Sensex were YES Bank Ltd. (Rs. 175.40,+1.53%), Power Grid Corporation of India Ltd. (Rs. 184.90,+1.48%), Mahindra & Mahindra Ltd. (Rs. 656.30,+1.48%), Reliance Industries Ltd. (Rs. 1271.85,+1.47%), Tata Steel Ltd. (Rs. 485.40,+1.04%), among others.

The top losers of the BSE Sensex were Infosys Ltd. (Rs. 744.10,-2.30%), Tata Consultancy Services Ltd. (Rs. 2031.50,-1.65%), Axis Bank Ltd. (Rs. 702.30,-1.13%), Hero MotoCorp Ltd. (Rs. 2852.00,-1.08%), HCL Technologies Ltd. (Rs. 1064.50,-1.07%), among others.

Among sectors, Metal index was at 10266.01 up by 57.82 points or by 0.57%. Tata Steel Ltd. (Rs. 485.40,+1.04%), Coal India Ltd. (Rs. 221.00,+1.03%), Vedanta Ltd. (Rs. 153.40,+0.85%), Jindal Steel & Power Ltd. (Rs. 129.55,+0.78%), Hindustan Zinc Ltd. (Rs. 250.55,+0.56%),. On the flip side, IT index was at 15419.41 down by -235.99 points or by -1.51%. Matrimony.com Ltd. (Rs. 400.00,-6.98%), Allsec Technologies Ltd. (Rs. 162.25,-5.81%), Intense Technologies Ltd. (Rs. 35.10,-4.10%), Aptech Ltd. (Rs. 152.40,-2.81%), Infosys Ltd. (Rs. 744.10,-2.30%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1412 , shares advanced were 672 while 666 shares declined and 74 were unchanged.