Tuesday 12 December 2017

Sensex, Nifty Extend Losses; HPCL, Infratel Top Losers

Posted by suhani varma on Tuesday, December 12, 2017 with No comments



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Equity benchmarks extended losses led by selling pressure in banking and FMCG shares. Mid cap and small cap shares were also trading lower with the respective indices down 0.51% and 0.19% each.Benchmark indices extended losses today tracking cues from other Asian markets, as investors continued to book profits. Sensex is down over 100 points and the Nifty50 is currently trading below 10,300 led by HDFC Bank, ITC, ICICI Bank and TCS.

Volatility in the market spiked in the last hour, as investors remained uncertain ahead of key economic data to be released later today. The India VIX index surged 5%.

the Nifty50 index was down 59 points, or 0.58% at 10,263 level, while the BSE Sensex was at 33,288 points, down 0.51%.

Shares of Alembic Pharma rose 1.8%, as the company got approval of the USFDA to sell its generic version of Enablex drug in the US.

Shares of Unitech fell over 2% after the Supreme Court deferred Unitech's plea to Wednesday.

Cement companies were trading lower a day ahead of Supreme Court hearing to discuss ban on use of pet coke. Ambuja Cement and ACC stocks decline by 1% each.

Larsen & Toubro Infotech stock gained after the company in a stock exchange notification said that it will offer blockchain solution powered by Microsoft Azure.

Oil exploration companies were trading higher after Brent Crude rose to $65.60, its highest level since June 2015. ONGC (+1.65%), Oil India (+2.18%), Hindustan Oil Exploration (+4%).

Among BSE sectoral indices, metal index was up 0.62%, followed by consumer durables 0.32% and healthcare 0.14%.

On the other hand, power index fell the most by 1.08%, followed by realty 1%, FMCG 0.77% and banking 0.91%.

The BSE MidCap Index and S&P BSE SmallCap Index traded lower by 0.54% and 0.21% respectively.

Dr.Reddy’s (+3.7%), GAIL (+2.6%), Adani Ports (+2.5%), Vedanta (+2.2%), and Lupin (+1.3%) were the top gainers on the Nifty50.

HPCL (-2.96%), Infratel (-2.4%), BPCL (-2.2%), IOC (-2 %), and ITC (-1.9%) were the top losers in today’s trade.

Out of 1,987 stocks traded on the NSE, 634 advanced, 1,018 declined and 335 remained unchanged today.

A total of 76 stocks registered a fresh 52-week high in trade today, while 14 stocks touched a new 52-week low on the NSE.

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