Sensex, Nifty volatile; SBI, ICICI Bank remain under pressure

28/11/2016 14:37

The key domestic benchmark indices remained flat with positive bias during the late noon trading session. Some support came after RBI Governor Urjit Patel said that all necessary actions are being taken to ‘ease the genuine pain of citizens’ who are honest and who have been hurt. Liquidity in the banking system has increased and the intent is to normalise things as soon as possible.

At 14:30 hours, the 30-share benchmark index was trading at 26342.21 up by 25.87 points or by 0.1 per cent while the NSE Nifty was at 8116.7 up by 2.4 points or by 0.03 per cent.

In the volatile trade so-far, Sensex touched intraday high of 26405.72 and intraday low of 26183.22 The NSE Nifty touched intraday high of 8145.9 and intraday low of 8066.5.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 317.35,+5.48%), ITC Ltd. (Rs. 233.30,+1.99%), Oil And Natural Gas Corporation Ltd. (Rs. 283.60,+1.92%), Power Grid Corporation of India Ltd. (Rs. 191.85,+1.86%), NTPC Ltd. (Rs. 164.25,+1.73%), among others.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 254.05,-2.64%), ICICI Bank Ltd. (Rs. 255.00,-1.87%), Wipro Ltd. (Rs. 460.10,-1.03%), Lupin Ltd. (Rs. 1494.30,-0.99%), Mahindra & Mahindra Ltd. (Rs. 1164.40,-0.91%), among others.

Among the sectors, Power index was at 2004.47 up by 29.32 points or by 1.48%. Adani Power Ltd. (Rs. 26.45,+7.96%), Tata Power Company Ltd. (Rs. 71.75,+2.57%), Torrent Power Ltd. (Rs. 174.25,+2.23%), CESC Ltd. (Rs. 585.00,+1.87%), Power Grid Corporation of India Ltd. (Rs. 191.85,+1.86%),.

On the flip side, Bankex index was at 20938.96 down by -246.1 points or by -1.16%. Bank of Baroda (Rs. 162.75,-3.04%), State Bank of India (Rs. 254.05,-2.64%), Punjab National Bank (Rs. 137.20,-2.21%), IndusInd Bank Ltd. (Rs. 1051.80,-1.98%), ICICI Bank Ltd. (Rs. 255.00,-1.87%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2785 , shares advanced were 1647 while 958 shares declined and 180 were unchanged.

On the global front, European markets were lower amid continued political uncertainty in Italy and fading hopes of an OPEC production cut which pushed oil prices lower.

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