Markets

News Details

( 05/12/2018 10:53)
Sensex down 200 points; Metal stocks slump

Indian benchmarks extended losses during the early morning trading session with the Sensex falling over 200 points and Nifty below 10,800-mark, ahead of the outcome of Reserve Bank of India's (RBI) bi-monthly monetary policy. Metals are trading in the red. Among sectors, the Nifty Auto index has slipped around 1 per cent lower weighed by Bharat Forge and Tata Motors.

A Reuters poll of 70 economists predicted the RBI's monetary policy committee would hold its repo rate steady, and predicted only one more increase, most likely in March. More than 60 per cent of 51 common contributors from an October poll switched their forecasts to no change from a hike.

At 10:41 hours, the 30-share benchmark index was trading at 35925.78 down by 208.53 points or by 0.58 per cent, while the NSE Nifty was at 10796.4 down by 73.1 points or by 0.67 per cent. In the morning trade so-far, Sensex touched intraday high of 36048.65 and intraday low of 35863.59 The NSE Nifty touched intraday high of 10821.05 and intraday low of 10785.85.

The top gainers of the BSE Sensex pack were Asian Paints Ltd. (Rs. 1337.25,+0.59%), HDFC Bank Ltd. (Rs. 2100.25,+0.55%), Hindustan Unilever Ltd. (Rs. 1817.10,+0.49%), Housing Development Finance Corporation Ltd. (Rs. 1945.00,+0.30%), Adani Ports & Special Economic Zone Ltd. (Rs. 374.80,+0.25%), among others.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 93.25,-3.07%), Vedanta Ltd. (Rs. 200.65,-2.67%), Tata Motors Ltd. (Rs. 171.15,-2.59%), Tata Steel Ltd. (Rs. 525.15,-2.44%), ITC Ltd. (Rs. 277.00,-1.72%), among others.

Among the sectors, Oil&Gas index was at 13339.73 up by -66.77 points or by -0.5%. Indraprastha Gas Ltd. (Rs. 259.65,+0.35%), Oil India Ltd. (Rs. 187.20,+0.29%),. On the flip side, Metal index was at 11797.48 down by -321.37 points or by -2.65%. Jindal Steel & Power Ltd. (Rs. 150.15,-4.15%), Steel Authority of India (SAIL) Ltd. (Rs. 53.85,-3.15%), JSW Steel Ltd. (Rs. 303.75,-3.11%), Hindalco Industries Ltd. (Rs. 226.05,-3.11%), Vedanta Ltd. (Rs. 200.80,-2.60%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2103 , shares advanced were 642 while 1355 shares declined and 106 were unchanged.

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