Markets remain volatile; ICICI Bank, ITC shares dip

19/10/2016 10:20

The key domestic benchmark indices were trading in a negative terrain in the morning trading session as volatility was witnessed across the bourses. Shares of NIIT, Hindustan Zinc and Tata Coffee will be in focus as these companies reveal their September quarter earnings. Optimism over the Indian economy amid swift progress on the implementation of GST and firm growth focus by the RBI may buoy sentiments later in the day.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 27994.35 down by 56.53 points or by 0.2 per cent, while the NSE Nifty was at 8669.2 points, trading lower by 8.7 points or by 0.1 per cent.

The BSE Sensex touched an intraday high of 28131.07 and an intraday low of 27977.77 while the NSE Nifty touched an intraday high of 8698.75 and an intraday low of 8660.6 The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (Rs. 442.00,+2.92 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 756.45,+1.68 per cent), Wipro Ltd. (Rs. 488.55,+1.50 per cent), Lupin Ltd. (Rs. 1497.00,+1.03 per cent), Axis Bank Ltd. (Rs. 537.40,+0.96 per cent), among others.

Meanwhile, ICICI Bank Ltd. (Rs. 266.50,-1.44 per cent), ITC Ltd. (Rs. 242.70,-1.26 per cent), Tata Consultancy Services Ltd. (Rs. 2374.25,-1.00 per cent), Mahindra & Mahindra Ltd. (Rs. 1320.00,-0.89 per cent), Hindustan Unilever Ltd. (Rs. 846.95,-0.89 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2198 shares traded, 1325 shares advanced, 758 shares declined while 115 were unchanged.

On the global front, Asian stocks were trading higher today as China’s economy was stable in the September quarter, while oil prices rallied. US stocks closed higher in the previous trading session as robust Q3 earnings from the likes of Goldman Sachs and Netflix, coupled with improving US inflation boosted the sentiments.

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