News Details

( 12/09/2018 12:09)
Mid-Session: Sensex, Nifty stay on firm footing; IT, FMCG stocks support

Indian equities continued to trade in the positive terrain, holding early gains, in afternoon deals on Wednesday, led by gains in FMCG and IT space. Bucking the trend, the broader markets slipped in red, with MidCap and SmlCap indices falling as much as 0.38per cent and 0.8 per cent, respectively. Among the individual stocks, shares of Pfizer fell nearly 3 per cent on BSE after Centrum downgraded stocks of the drug maker to hold from buy with a target price of Rs 3,100, citing higher valuations.

At 12:00 hours, the 30-share benchmark index was trading at 37487.55, up by 74.42 points or by 0.2 per cent, and the NSE Nifty was at 11300.1, up by 12.6 points or by 0.11 per cent.

During the day’s trade so far, the BSE Sensex touched intraday high of 37638.16 and intraday low of 37370.14, while the NSE Nifty touched intraday high of 11340.1 and intraday low of 11264.25.

The top gainers of the BSE Sensex pack were ITC Ltd. (Rs. 304.65,+2.49%), Power Grid Corporation of India Ltd. (Rs. 191.50,+2.49%), Hindustan Unilever Ltd. (Rs. 1620.70,+1.84%), Wipro Ltd. (Rs. 328.75,+1.67%), Vedanta Ltd. (Rs. 223.00,+1.64%), among others.

On the flip side, Axis Bank Ltd. (Rs. 635.15,-2.36%), Tata Motors Ltd. (Rs. 261.20,-2.25%), Mahindra & Mahindra Ltd. (Rs. 923.00,-1.86%), ICICI Bank Ltd. (Rs. 321.00,-1.71%), Hero MotoCorp Ltd. (Rs. 3142.00,-1.13%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2525, shares advanced were 856, while 1546 shares declined and 123 were unchanged.

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