Sensex slips below 26,000-mark; Tata Motors drops nearly 3.92%

24/11/2016 13:33

Indian equity benchmarks continued to trade in the negative territory during the afternoon session on Thursday with speculators liquidating positions as today being the last day of November month derivatives expiry.

Also, concerns rose over looming US monetary tightening may impact foreign capital flows to Asia’s third biggest economy, and weakness in Rupee against US dollar, too influenced domestic sentiment.

At 1:08 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25,916.68, down by 135.13 points or 0.52 per cent while the NSE Nifty was at 7,985.75, down by 47.55 points or 0.59 per cent.

Meanwhile, selling pressure was witnessed mainly in the oil & gas and auto sector stocks.

Major show spoilers were Tata Motors Ltd. (Rs. 452.90,-3.92%), NTPC Ltd. (Rs. 156.10,-2.41%), ICICI Bank Ltd. (Rs. 259.75,-1.98%), Reliance Industries Ltd. (Rs. 989.10,-1.80%), Sun Pharmaceutical Industries Ltd. (Rs. 689.55,-1.64%), among others.

The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 938.05,+1.91%), Tata Consultancy Services Ltd. (Rs. 2186.05,+1.36%), Wipro Ltd. (Rs. 453.45,+1.18%), Bajaj Auto Ltd. (Rs. 2625.95,+1.16%), Power Grid Corporation of India Ltd. (Rs. 183.90,+1.13%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2,550 shares traded, 1,255 advanced while 1,117 shares declined and 178 remained unchanged.

On the global front, Asian markets were mixed after Fed minutes showed that officials saw a stronger case for monetary tightening relatively soon amid an improvement in the labour market, with some FOMC members calling for an interest rate hike as soon as December.

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