Markets

News Details

( 10 Oct 2019)
Sensex down 106 points, Nifty below 11300; Financials drag

Indian equities are trading under pressure on early morning deals taking cues from their weak Asian peers, following with sustained selling across Bank and Financial Stocks. While weak global cues are keeping the risk appetite low, investors are cautious ahead of earnings of heavyweights IndusInd Bank and TCS.

Among shares, shares of Lakshmi Vilas Bank and Indiabulls Housing Finance plunged over five percent each in the early trade on October 10 after Reserve Bank of India (RBI) has rejected a merger between both companies.

At 10:16 hours, the 30-share benchmark index was trading at 38071.72, down by -106.23 points or by -0.28 per cent, and the NSE Nifty was at 11286, down by -27.3 points or by -0.24 per cent.

The BSE Sensex touched intraday high of 38130.23 and intraday low of 37978.86 The NSE Nifty touched intraday high of 11293.35 and intraday low of 11253.4.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 373.40,+3.94%), Reliance Industries Ltd. (Rs. 1358.10,+2.44%), Infosys Ltd. (Rs. 791.50,+0.96%), Mahindra & Mahindra Ltd. (Rs. 717.15,+0.80%), Asian Paints Ltd. (Rs. 1787.00,+0.78%), among others.

On the flip side YES Bank Ltd. (Rs. 41.75,-3.36%), Tata Motors Ltd. (Rs. 117.55,-2.73%), Tata Motors Ltd. (Rs. 52.20,-2.43%), State Bank of India (Rs. 255.15,-2.20%), ICICI Bank Ltd. (Rs. 427.40,-2.11%), were among top losers on the BSE.

On the sectoral front, BSETECk index was at 7506.58 up by 62.67 points or by 0.84%. Bharti Airtel Ltd. (Rs. 373.45,+3.95%), Cyient Ltd. (Rs. 462.80,+3.34%), Sterlite Technologies Ltd. (Rs. 145.25,+1.89%), Vodafone Idea Ltd. (Rs. 5.93,+1.54%), Reliance Communications Ltd. (Rs. 0.78,+1.30%),.

Whereas, Bankex index was at 31954.03 down by -583.4 points or by -1.79%. RBL Bank Ltd. (Rs. 297.70,-3.89%), YES Bank Ltd. (Rs. 41.85,-3.13%), State Bank of India (Rs. 254.85,-2.32%), ICICI Bank Ltd. (Rs. 426.80,-2.24%), HDFC Bank Ltd. (Rs. 1207.35,-1.72%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1790 , shares advanced were 772 while 918 shares declined and 100 were unchanged.