Mid-Session: Sensex, Nifty trade lower; CGs, Oil&Gas stocks down 1%
14/11/2017 12:36
Indian benchmarks indices continued to trade in negative terrain, paring early gains, in late morning deal on Tuesday, led by losses in capital goods and oil&gas stocks. The market sentiments were dented by spike in retail inflation which rose to 7-month high of 3.58 per cent in October due to rate of price rise in the food and vegetable segments, dimming interest rate cut hopes by the Reserve Bank. Footwear retailer Khadim India made a quite debut on the BSE by listing at Rs 727, down 3 per cent against its initial public offer (IPO) price of Rs 750 per share. After making a tepid debut, shares of company fell sharply, touching an intra-day highs and lows of Rs 740.00 and Rs 706.15 on the BSE.

At 12:25 hours, the 30-share benchmark index was trading at 32946.98, down by 86.58 points or by 0.26 per cent, and the NSE Nifty was at 10191.7, down by 33.25 points or by 0.33 per cent.

In the bearish trade so-far, Sensex touched intraday high of 33126.55 and intraday low of 32927.05, while the NSE Nifty touched intraday high of 10248 and intraday low of 10185.7.

The top losers of the BSE Sensex pack were Larsen & Toubro Ltd. (Rs. 1217.30,-1.86%), Power Grid Corporation of India Ltd. (Rs. 207.65,-1.77%), Asian Paints Ltd. (Rs. 1156.15,-1.61%), Tata Consultancy Services Ltd. (Rs. 2717.55,-1.50%), Sun Pharmaceutical Industries Ltd. (Rs. 525.65,-1.29%), among others.

On the flip side, Hero MotoCorp Ltd. (Rs. 3635.00,+1.44%), Lupin Ltd. (Rs. 839.80,+1.35%), Bajaj Auto Ltd. (Rs. 3254.75,+1.34%), Cipla Ltd. (Rs. 610.00,+1.30%), Axis Bank Ltd. (Rs. 544.50,+1.25%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2665, shares advanced were 1144, while 1385 shares declined and 136 were unchanged.

On the sectoral front, capital goods and oil&gas stocks were among top losers on BSE, falling as much as 1.08 per cent and 1 per cent, respectively.