Indian markets dropped in early trade on Friday erasing earlier gains. The 30-share benchmark index, BSE Sensex opened with a decline of 149.82 points or 0.88% at 16,882.74, while the broad based NSE Nifty started with a fall of 63.25 points or 1.22%, at 5,101.75.
At 09.19 a.m., the Sensex was trading down 134.62 points or 0.79% at 16,897.94 with 28 components falling. Meanwhile, the Nifty was trading lower by 63.25 points or 1.22% at 5,101.75 with 49 components falling.
Sensex Movers
Infosys contributed fall of 23.5 points
in the Sensex. It was followed by Housing Development Finance
Corporation (17.93 points), Reliance Industries (16.3 points), I C
I C I Bank (14.91 points) and Oil & Natural Gas Corporation
(8.99 points).
However, I T C contributed rise of 2.86 points in the Sensex. It was followed by Hindustan Unilever (0.06 points), Hero Motocorp (0.52 points), Reliance Communications (1.05 points) and D L F (1.22 points).
Biggest gainers in the 30-share index were Cipla (0.36%) and I T C (0.18%).
On the other hand, Sterlite Industries (India) (1.96%), Infosys Technologies (1.62%), Housing Development Finance Corporation (1.60%), Tata Motors (1.51%), Hindalco Industries (1.40%), and Oil & Natural Gas Corporation (1.34%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts declining-0.45% and -0.15% respectively.The major losers in the BSE Midcap were Aban Offshore (1.18%), Anant Raj Industries (0.97%), Alstom Projects India (0.37%), Amtek Auto (0.24%) and Amara Raja Batteries (0.07%).The major losers in the BSE Smallcap were Action Construction Equipment (6.1%), Adhunik Metaliks (2.83%), Aanjaneya Lifecare (1.31%), A2Z Maintenance & Engineering Services (1.01%) and Reliance MediaWorks (0.19%).
Sectors in Limelight
The Metal index was at 10,386.48, down by 114.26 points or by 1.09%. The major losers were Hindustan Zinc (1.92%), Hindalco Industries (1.4%), Jindal Steel & Power (0.75%), Coal India (0.5%) and Bhushan Steel (0.46%).
The IT index was at 5,618.82, down by 58.68 points or by 1.03%. The major losers were Infosys (1.62%), Hexaware Technologies (1.35%), Oracle Financial Services Software (0.58%), Mphasis (0.2%) and H C L Technologies (0.17%).
The Bankex index was at 11,447.15, down by 115.6 points or by 1%. The major losers were Canara Bank(1.4%), Bank Of Baroda (1.07%), Bank Of India (1.05%), Federal Bank (0.74%) and H D F C Bank (0.51%).
On the other hand, the FMCG index was at 4,896.38, up by 10.79 points or by 0.22%. The major gainers were Nestle India (1.16%) and I T C (0.18%).
Market Breadth
Market breadth was negative with 234 advances against 476 declines.
Value and Volume Toppers
Manappuram Finance topped the value chart on the BSE with a turnover of Rs. 94.60 million. It was followed by Jaiprakash Associates (Rs. 28.89 million), State Bank Of India (Rs. 23.31 million) and ACC (Rs. 23.26 million).
The volume chart was led by Manappuram Finance with trades of over 4.06 million shares. It was followed by Sybly Industries (0.50 million), Jaiprakash Associates (0.40 million) and Cals Refineries (0.38 million).
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