Markets trade lower; Tata Steel, Bharti Airtel shares dip

06/04/2017 10:21

The key domestic benchmark indices were trading in a negative terrain in the morning trading session dragged by banking & financials, FMCG and select auto stocks.

The market sentiments were dampened amid weak cues from Asian markets following losses on Wall Street in overnight trade as caution prevailed in the market ahead of the highly-anticipated meeting between US President Donald Trump and Chinese President Xi Jinping. The rate-sensitive, auto, banking and realty stocks remained in focus ahead of the Reserve Bank of India’s bi-monthly monetary policy review.

At 10:20 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 29904.28 down by 69.96 points or by 0.23 per cent, while the NSE Nifty was at 9241.25 points, trading lower by 23.9 points or by 0.26 per cent.

The BSE Sensex touched an intraday high of 29948.44 and an intraday low of 29852.3 while the NSE Nifty touched an intraday high of 9245.8 and an intraday low of 9225.9

The top gainers of the BSE Sensex pack were Bajaj Auto Ltd. (Rs. 2811.45,+1.84 per cent), Axis Bank Ltd. (Rs. 512.05,+1.10 per cent), Reliance Industries Ltd. (Rs. 1425.60,+0.76 per cent), Infosys Ltd. (Rs. 1001.00,+0.56 per cent), NTPC Ltd. (Rs. 167.20,+0.48 per cent), among others.

Meanwhile, Tata Steel Ltd. (Rs. 485.00,-1.69 per cent), Bharti Airtel Ltd. (Rs. 339.50,-1.48 per cent), Hindustan Unilever Ltd. (Rs. 922.15,-1.41 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 352.55,-1.32 per cent), ITC Ltd. (Rs. 275.95,-1.08 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 2410 shares traded, 1252 shares advanced, 1058 shares declined while 100 were unchanged.

On the global front, Asian stocks were trading lower today tracking losses on Wall Street overnight, while the US markets closed lower in the previous trading session after the Federal Reserve released the minutes from its March meeting which showed Fed officials wanting to start unwinding the central banks massive USD 4.5 trillion balance sheet later this year.

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