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News Details

( 05/12/2018 11:43)
Indices are trading in red led by fall in metal, IT, FMCG and auto

Indian benchmarks continued its choppy trade during the late morning deals led by fall in metal, IT, FMCG and auto shares, following with weak global cues. The trading activity on that day showed that the foreign portfolio investors (FPIs) sold shares worth a net Rs 55.89 crore. Domestic institutional investors (DIIs) sold shares worth a net Rs 521.38 crore.

Among key shares, Shares of Kesoram Industries dropped as much as 7.8 per cent to Rs 89.60 in the early morning trade on BSE as the investors booked profit after the company said it will spin off its tyre business into a separate entity, which will then become a publicly-traded company. The board of directors of the company at its meeting held on Tuesday approved the proposal to demerge the tyre business into a new entity, Birla Tyres Ltd.

On the other side, Shares of Bharat Forge slipped 9.5% to Rs 526, also hit its 52-week low on the BSE on back of heavy volumes, on concerns of near-term demand challenges persisting for domestic commercial vehicles (CV) due to emerging concerns on tighter liquidity.

At 11:31 hours, the 30-share benchmark index was trading at 35921.03 down by 213.28 points or by 0.59 per cent, while the NSE Nifty was at 10788.1 down by 81.4 points or by 0.75 per cent.

In the volatile trade so-far, Sensex touched intraday high of 35351.88 and intraday low of 35042.31 The NSE Nifty 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 10781.4.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1827.70,+1.08%), Housing Development Finance Corporation Ltd. (Rs. 1953.95,+0.76%), HDFC Bank Ltd. (Rs. 2096.30,+0.36%), Adani Ports & Special Economic Zone Ltd. (Rs. 374.95,+0.29%), Asian Paints Ltd. (Rs. 1331.75,+0.18%), among others.

The top losers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 93.10,-3.22%), Vedanta Ltd. (Rs. 199.70,-3.13%), Tata Motors Ltd. (Rs. 170.35,-3.04%), Coal India Ltd. (Rs. 245.10,-2.82%), Tata Steel Ltd. (Rs. 523.55,-2.74%), among others.

Among the sectors, IT index was at 14608.06 up by -21.26 points or by -0.15%. Trigyn Technologies Ltd. (Rs. 93.20,+12.63%), Intense Technologies Ltd. (Rs. 40.00,+3.36%), eClerx Services Ltd. (Rs. 1105.55,+3.34%), Hinduja Global Solutions Ltd. (Rs. 672.00,+3.06%), Allsec Technologies Ltd. (Rs. 212.60,+1.55%),. On the flip side, Metal index was at 11735.45 down by -383.4 points or by -3.16%. Jindal Steel & Power Ltd. (Rs. 146.95,-6.19%), Steel Authority of India (SAIL) Ltd. (Rs. 53.45,-3.87%), Hindalco Industries Ltd. (Rs. 224.30,-3.86%), Vedanta Ltd. (Rs. 199.70,-3.13%), National Aluminium Company Ltd. (Rs. 65.95,-3.09%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2319 , shares advanced were 650 while 1549 shares declined and 120 were unchanged.

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