The key domestic benchmark indices pared all the early gains and slipped into negative zone during the late noon trading session amid selling pressure witnessed in index heavyweights including ICICI Bank, Tata Steel, State Bank of India and NTPC among others.
At 14:20 hours, the 30-share benchmark index was trading at 28878.3 down by 50.83 points or by 0.18 per cent, while the NSE Nifty was at 8922.45 down by 4.55 points or by 0.05 per cent.
The exit polls showed Prime Minister Narendra Modi’s ruling party ahead of rivals in an election in the country’s most populous state. Victory for Modi’s BJP in Uttar Pradesh, which is home to 220 million people, would boost his chances of winning the 2019 general election and underscore his popularity after he made himself the face of the party’s campaign.
In the volatile trade so-far, Sensex touched an intraday high of 29076.63 and an intraday low of 28862.59, while the NSE Nifty touched an intraday high of 8975.7 and an intraday low of 8921.95.
The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 1021.00,+0.93%), Bharti Airtel Ltd. (Rs. 363.40,+0.83%), Hero MotoCorp Ltd. (Rs. 3299.00,+0.77%), Larsen & Toubro Ltd. (Rs. 1485.85,+0.60%), Tata Consultancy Services Ltd. (Rs. 2534.30,+0.59%), among others.
The top losers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 269.70,-1.30%), Tata Steel Ltd. (Rs. 463.60,-1.26%), State Bank of India (Rs. 270.00,-1.17%), Power Grid Corporation of India Ltd. (Rs. 192.35,-0.98%), NTPC Ltd. (Rs. 156.75,-0.95%), among others.
Among the sectors, BSETECk index was at 5809.99 up by 25.04 points or by 0.43%. PVR Ltd. (Rs. 1417.85,+5.22%), Inox Leisure Ltd. (Rs. 251.55,+1.57%), Reliance Communications Ltd. (Rs. 35.95,+1.41%), Bharti Infratel Ltd. (Rs. 309.00,+1.28%), Idea Cellular Ltd. (Rs. 105.20,+1.25%),.
On the flip side, Metal index was at 11519.07 down by -111 points or by -0.95%. Hindustan Zinc Ltd. (Rs. 284.05,-2.71%), Vedanta Ltd. (Rs. 247.80,-1.98%), Tata Steel Ltd. (Rs. 463.55,-1.27%), NMDC Ltd. (Rs. 139.45,-1.06%), Hindalco Industries Ltd. (Rs. 187.10,-0.95%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3005 , shares advanced were 1146 while 1662 shares declined and 197 were unchanged.