Market

Afternoon Session: Market off the highs but Nifty above 12,050; YES Bank top gainer

Updated : November 27, 2019 01:21 PM IST

Dalal Street has erased morning gains after the realty sector and heavyweights like Larsen & Toubro, ICICI Bank, and Tata Steel have declined in-trade

Nifty Auto has remained the best-performing index, rising 1.11 percent as the Cabinet's nod is being awaited for the approval of scrappage policy

Meanwhile, the Nifty Realty index has slipped 1.13 percent after DLF and Oberoi Realty's shares fell over 2 percent

Indian markets erased morning gains on Wednesday after the realty sector and heavyweights like Larsen & Toubro, ICICI Bank, and Tata Steel declined in-trade.

AT 1:18 pm, the 50-share NSE index was trading 0.27 percent or 32.20 points higher to 12,069 while in comparison, the Sensex rose 0.20 percent or 81.74 points at 40903.04

Nifty Auto remained the best-performing index, rising 1.11 percent as the Cabinet's nod is being awaited for the approval of scrappage policy. Meanwhile, the Nifty Realty index slipped 1.13 percent after DLF and Oberoi Realty's shares fell over 2 percent.

YES Bank, UltraTech Cement, UPl, Maruti Suzuki and Tata Motors were the top gainers of the Nifty50 index while L&T, Cipla, Bharti Airtel, ICICI Bank, and Tata Steel remained the top losers.

YES Bank's share price rallied over 9 percent intraday on Wednesday as the company decided to hold a meeting to discuss and consider raising of funds.

RITES Ltd's shares have returned over 29 percent year-to-date, despite falling 7.5 percent in the last one week. The railways' consultancy firm quoted at Rs 283 apiece on BSE, higher by 0.30 percent, after opening at Rs 283.70.

The Nifty Auto index rose 1.5 percent during trade on Wednesday following news that Cabinet nod is awaited for the approval of scrappage policy in today's meeting.

Globally, Asian shares ticked higher on Wednesday as more upbeat signals from Sino-U.S. trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing U.S. economy.

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