Post Session: Sensex slips 180 pts to close below 31K; rate sensitive stocks drag

Weighed down by sharp losses in rate sensitive realty and bank stocks, the Indian equities ended lower for the second straight session on Tuesday, tracking mixed cues from Asian market. On the sectoral front, banking stocks emerged as top losers after rating agency raised concerns over mounting loan-loss provisioning and said that banks will have to sacrifice nearly 60 per cent of the value of the loans extended to the 12 indebted companies recognized by the RBI. Reacting to the news, index heavyweights, PNB, Bank of Baroda, SBI, Axis Bank and Federal Bank, fell between 4.5 per cent to 2 per cent.

The 30-share barometer SENSEX closed at 30958.25, down by 179.96 points or by 0.58 per cent, and then NSE Nifty ended at 9511.4, down by 63.55 points or by 0.66 per cent.

In line with benchmark indices, the broader markets witnessed sharp selling with BSE MIDCAP falling 114.93 points, or by 0.79 per cent to settle at 14468.88, while the BSE SMLCAP ended at 15141.08, down by 240.82 points or by 1.57 per cent.

During the day’s trade, Sensex touched an intraday high of 31294.96 and intraday low of 30847.08, while the NSE Nifty touched intraday high of 9615.4 and intraday low of 9473.45.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 279.40,-3.27%), Axis Bank Ltd. (Rs. 492.80,-2.34%), Infosys Ltd. (Rs. 926.35,-1.80%), Asian Paints Ltd. (Rs. 1134.00,-1.73%), Bajaj Auto Ltd. (Rs. 2779.20,-1.61%), among others.

On the flip side, Bharti Airtel Ltd. (Rs. 371.80,+1.61%), Oil And Natural Gas Corporation Ltd. (Rs. 159.95,+1.23%), Hero MotoCorp Ltd. (Rs. 3695.95,+0.97%), Tata Steel Ltd. (Rs. 510.45,+0.60%), Adani Ports & Special Economic Zone Ltd. (Rs. 367.25,+0.56%), were among the top gainers on the BSE.

On the sectoral front, all the indices ended bleeding in red, barring consumer durables, while rate sensitive bank and realty stocks emerged as top losers, falling as much as 1.45 per cent and 1.4 per cent respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2967, shares advanced were 808 while 1979 shares declined and 180 were unchanged.


27/06/2017 16:07

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