Comments
The benchmark indices were trading marginally lower in the afternoon on Wednesday.
The market started off on a negative note amid weak global cues and extended losses in the first half. Though they have come off the day’s lows, supported by buying in oil and gas stocks, the benchmark indices were trading in the red in the afternoon amid broad-based selling.
At 1 pm, the BSE Sensex was trading at 53,116.88, down 60.57 points or 0.11 per cent. It recorded an intraday high of 53,128.21 and a low of 52,612.68. The Nifty 50 was trading at 15,822.15, down 28.05 points or 0.18 per cent. It recorded an intraday high of 15,830.05 and a low of 15,687.80.
Reliance, NTPC, ONGC, Shree Cement and Ultratech Cement were the top gainers on the Nifty 50, while HDFC Life, IndusInd Bank, Hindustan Unilever, Titan and UPL were the top laggards.
A weakening rupee and inflation concerns have added to negative sentiment in the market. Volatility is expected to continue ahead of F&O settlement on Thursday.
Oil and gas in focus
Among the sectoral indices, all the indices except Nifty Oil & Gas, were in the red.
Nifty Oil & Gas was up over 1 per cent. Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank, Nifty FMCG, Nifty Consumer Durables and Nifty Healthcare Index were each down nearly 1 per cent. Nifty Pharma was down 0.5 per cent.
Midcaps under pressure
The broader indices were trading in the red, with midcaps facing increased pressure.
The Nifty Midcap 50 was down 1.05 per cent, while the Nifty Smallcap 50 was down 0.31 per cent. The S&P BSE Midcap was down 0.72 per cent, while the S&P BSE Smallcap was down 0.02 per cent.
The volatility index rose 1.94 per cent to 21.87.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.