Markets extend losses; Tata Motors, Infosys shares dip

12/12/2016 10:18

The key domestic benchmark indices were trading in a negative terrain in the morning trading session tracking mixed cues from Asian peers, as investors reacted to deal between Opec and non-Opec member to cut crude output, ahead of data on November retail inflation (CPI) later in the day.

The traders also reacted on looming uncertainty over the GST bill and index of industrial production (IIP) which contracted to 1.9 per cent in October from 0.7 per cent rise in September and 9.8 per cent in the year-ago month, impacted by demonetisation-led cash crunch.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26616.49 down by 130.69 points or by 0.49 per cent, while the NSE Nifty was at 8214.55 points, trading lower by 47.2 points or by 0.57 per cent.

The BSE Sensex touched an intraday high of 26725.31 and an intraday low of 26593.34 while the NSE Nifty touched an intraday high of 8230.65 and an intraday low of 8207.7

The top gainers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 312.55,+1.84 per cent), Reliance Industries Ltd. (Rs. 1036.40,+0.97 per cent), Housing Development Finance Corporation Ltd. (Rs. 1275.00,+0.62 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 676.30,+0.49 per cent), Power Grid Corporation of India Ltd. (Rs. 185.20,+0.35 per cent), among others.

Meanwhile, Tata Motors Ltd. (Rs. 455.75,-1.79 per cent), Infosys Ltd. (Rs. 970.40,-1.72 per cent), Bajaj Auto Ltd. (Rs. 2673.40,-1.70 per cent), Axis Bank Ltd. (Rs. 449.25,-1.55 per cent), Asian Paints Ltd. (Rs. 927.45,-1.51 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 1971 shares traded, 878 shares advanced, 997 shares declined while 96 were unchanged.

On the global front, Asian stocks were trading mixed today while US stocks closed higher in the previous trading session as traders were eyeing key data, including reports on housing, inflation, consumer spending and manufacturing apart from the crucial FOMC meeting in the next week.

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