Monday 17 September 2018

Sensex, Nifty Extend Losses IT Stocks Gain As Rupee Extends Weakness

Posted by suhani varma on Monday, September 17, 2018 with No comments


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Equity benchmarks extended losses in the morning trade following weakness in global markets amid rising trade tensions. All the sectoral indices on NSE were in the red except IT and pharma. Nifty PSU Bank, metal, media and realty were the worst performers of the day, declining ~1% each.

Sensex was down 324 points at 27,756, and the Nifty was down 99 points at 11,416. India VIX jumps 2.87% to 14.24.

Infosys shares were up 0.65% after the company has agreed to buy Fluido, a Salesforce consulting partner in the Nordics in Europe. The acquisition of Fluido - for up to €65 mn (over Rs544cr) including earn-out, management incentives and bonuses - is expected to close during the third quarter of fiscal 2019, subject to customary closing conditions, as per BSE statement. 

The Indian rupee weakened against the US dollar, tracking the losses from Asian currency market, even as the government announced several measures to defend the currency.

In the broader market, the BSE Midcap slipped 0.56 %, while the BSE Smallcap was down by 0.22%.

Out of 2,056 stocks traded on the NSE, 498 advanced, 1,067 declined and 491 remained unchanged today.

Wipro (+1.2%), HCL Tech (+0.87%), Tech Mahindra (+0.69%), Eicher (+0.64%) and Dr.Reddy’s (+0.57%) were the top gainers on the NSE.

Indiabulls HF (-3%), Titan (-2.7%), Asian Paints (-2%), Bajaj Fin (+1.8%) and UltraTech (-1.8%) were the top losers on the NSE.

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