Mumbai, April 11 Benchmark indices were trading in the red during the afternoon on Monday.
Market started on a weak note amid weak global cues. Indices extended losses in the first half. Though off the day’s lows, indices were trading lower in the afternoon, dragged by IT stocks.
At 1 pm, the BSE Sensex was trading at 59,239.58, down 207.6 points or 0.35 per cent. It recorded an intraday high of 59,333.18 and a low of 58,945.08. The Nifty 50 was trading at 17,746.90, down 37.45 points or 0.21 per cent. It recorded an intraday high of 17,761.10 and a low of 17,653.55.
Grasim, Adani Ports, Apollo Hospitals, JSW Steel and ICICI Bank were the top gainers on the Nifty 50 while HCL Tech, Infosys, Wipro, L&T and Powergrid were the top laggards.
Investors are awaiting the financial results for Tata Consultancy Services for the March quarter.
According to Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “Q4 results, particularly of leading financials, and guidance from IT majors will influence the market in the coming days.”
Oil & gas in focus
On the sectoral front, a majority of indices were in the green. While oil & gas, bank, realty and metal gained, IT, financial services and consumer durables dragged.
Nifty Oil & Gas was up over 1 per cent. Nifty Bank, Nifty PSU Bank and Nifty Private Bank were up 0.42 per cent, 0.44 per cent and 0.52 per cent, respectively. Nifty Realty was up 0.48 per cent while Nifty Metal was up 0.34 per cent.
Meanwhile, Nifty IT was down over 1 per cent. Nifty Consumer Durables was down 0.16 per cent.
Broader indices
Broader indices were in the green, outperforming the benchmarks.
Nifty Midcap 50 was up 0.65 per cent while the S&P BSE Smallcap was up 0.51 per cent. The S&P BSE Midcap was up 0.71 per cent while the S&P BSE Smallcap was up 0.67 per cent.
The volatility index was up 3.97 per cent to 18.39.