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Market ends flat, Sensex closes sharply lower from day's high

Market ends flat, Sensex closes sharply lower from day's high

Market ends flat, Sensex closes sharply lower from day's high
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By Ajay Vaishnav  Aug 7, 2018 4:01:03 PM IST (Updated)

The Sensex was trading at 37,658.78, lower by 33 points, or 0.09 percent, while the Nifty 50 was down to 11,376.45, down by 10.65 points, or 0.09 percent.

Equity markets ended sharply lower from the opening high on Tuesday on profit-booking across sectors, particularly banks and heavyweight stocks such as Reliance Industries and TCS.

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The Sensex ended 26 points lower, or 0.07 percent, to 37,665.80, while the Nifty 50 closed up by 0.02 percent, or 2.35 points, to 11,389.45. In fact, the 30-share gauge had slipped over 200 points from the day's high. While the Nifty slipped off from opening highs, it still ended at all-time high.
Midcaps indexes underperformed and were down by nearly 0.3 percent. HDFC Bank and Yes Bank pulled Nifty Bank, but SBI and later after Q1 results, PNB dragged the index lower. Adani Ports emerged as the top loser dipping over 6 percent.
PNB posted biggest single day fall in three months on elevated first quarter slippages, while TVS Motors recovered 6 percent from lows after results of June quarter were announced.
The market breadth is in favour of declines with advance-decline ratio at 1:3.
(Market update as of 3.45 pm)
Sensex, Nifty rangebound, midcaps underperform
The BSE Sensex and the NSE Nifty 50 trade rangebound on Tuesday afternoon with the Sensex trading at 37,736.13, higher by 44.24 points, or 0.12 percent. The Nifty traded above the 11,400 mark, at 11,405.40, up by 18.30 points, or 0.16 percent.
Midcaps continue to trade under pressure, down by nearly 0.3 percent. Among sectoral indices on the BSE, except COnsumer Durables, Metal and Basic Materials, Consumer Discretionary Goods & Services, all others were trading flat.
On the NSE, Bank Nifty trades flat, while the PSU Bank has falled nearly 1.5 percent. Gainers were Media, Metal, rising by over a percent.
Shares of Asian Paints, Yes Bank, Tata Steel, Vedanta, L&T, gained by up to 2 percent. UltraTech Cement, Grasim and Zee Entertainment also rose.
The laggards include Adani Ports, Coal India, HPCLBPCLUPL along with Bharti Airtel, Axis Bank, Reliance. Adani Ports has declined nearly 6.5 percent.
(Market update as of 2.30 pm)
Sensex, Nifty slipped into the red due to profit booking
The BSE Sensex and the NSE Nifty 50 slipped into negative territory before noon on Tuesday as investor sentiment shifted towards profit-booking across sectors.
The Sensex was trading at 37,658.78, lower by 33 points, or 0.09 percent, while the Nifty 50 was down to 11,376.45, down by 10.65 points, or 0.09 percent at 11:45 am.
In the opening session, the Sensex had jumped 158 points to hit a fresh all-time high of 37,849, while the Nifty opened above the 11,400 mark, at 11,423.
Both the Nifty midcap and the BSE midcap were down by nearly half a percent. BSE smallcap was also trading lower by 0.46 percent, while the largecap traded lower by 0.13 percent.
Among sectoral indices on the gauge, energy, healthcare, industrials, telecom, utilities, oil & gas, power and realty declined the most.
Asian Paints, Yes Bank, Infosys, Kokak Mahindra Bank, L&T, HDFC Bank surged on the BSE, while Adani Ports, Coal India, SBI, Bharti Airtel, Reliance, Sun Pharma declined.
On the NSE, gainers include Asian Paints, UltraTech Cement, Grasim, Zee Entertainment, Titan, rising by up to 2.36 percent. The laggards include Adani Ports, HPCL, Coal India, Cipla and SBI, declining by up to 5.47 percent. Adani Ports has declined over 6 percent.
All sectoral indices on the broader index, except IT and media, traded in the red. Nifty PSU Bank was down by 1.55 percent.
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