Markets

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( 16/05/2018 13:33)
Markets pare losses on recovery in banks

Indian benchmarks continued to trade lower during the noon trading session, however they trimmed some of the early losses following further recovery in banking stocks, rupee and fall in crude oil prices. After the Karnataka poll verdict, investors are closely watching which party will form the government.

At 13:25 hours, the 30-share benchmark index was trading at 35517.72 down by 26.22 points or by 0.07 per cent, while the NSE Nifty was at 10776.45 down by 25.4 points or by 0.24 per cent.

In the choppy trade so-far, Sensex touched intraday high of 35523.09 and intraday low of 35241.63 The NSE Nifty touched intraday high of 10786.75 and intraday low of 10699.7.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1559.00,+2.84%), Wipro Ltd. (Rs. 276.90,+2.40%), YES Bank Ltd. (Rs. 353.55,+2.29%), Tata Motors Ltd. (Rs. 184.60,+1.93%), Tata Motors Ltd. (Rs. 313.90,+1.18%), among others.

The top losers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 3569.00,-2.31%), Adani Ports & Special Economic Zone Ltd. (Rs. 403.25,-1.35%), Reliance Industries Ltd. (Rs. 966.75,-1.29%), ICICI Bank Ltd. (Rs. 304.15,-1.25%), Larsen & Toubro Ltd. (Rs. 1367.50,-0.62%), among others.

Among the sectors, Realty index was at 2326.53 up by 46.83 points or by 2.05%. Indiabulls Real Estate Ltd. (Rs. 205.20,+10.26%), DLF Ltd. (Rs. 207.90,+2.26%), Prestige Estates Projects Ltd. (Rs. 279.00,+1.14%), Phoenix Mills Ltd. (Rs. 673.30,+0.82%), Sobha Ltd. (Rs. 532.25,+0.12%),.

On the flip side, Oil&Gas index was at 14585.98 down by -146.52 points or by -0.99%. Petronet LNG Ltd. (Rs. 205.10,-2.01%), GAIL (India) Ltd. (Rs. 332.95,-1.90%), Reliance Industries Ltd. (Rs. 966.95,-1.27%), Bharat Petroleum Corporation Ltd. (Rs. 401.25,-1.08%), Castrol India Ltd. (Rs. 175.95,-0.96%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2681 , shares advanced were 1009 while 1544 shares declined and 128 were unchanged.

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