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Markets crack in afternoon session: Sensex down 400 points, Nifty below 11,500 level

Markets crack in afternoon session: Sensex down 400 points, Nifty below 11,500 level

Markets crack in afternoon session: Sensex down 400 points, Nifty below 11,500 level
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By Mousumi Paul  Jul 19, 2019 12:43:59 PM IST (Updated)

Indian shares gave up morning gains and edged lower in the afternoon session on Friday, dragged lower by auto, PSU banks and realty stocks.

Indian shares gave up morning gains and edged lower in the afternoon session on Friday, dragged lower by auto, PSU banks and realty stocks.

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At 12:17 PM, the Sensex was trading 415.01 points lower at 38,482.45 while the Nifty was at 11,477.70, down 119.20 points. In the broader market, the Nifty Midcap 100 index slumped 1.02 percent while the Nifty Smallcap 100 index declined 1.28 percent.
Bajaj Finance, Bajaj Finserv, M&M, GAIL and IndusInd Bank were the top losers in the afternoon session while NTPC, Titan, TCS, BPCL and Vedanta gained on Friday.
Cyient shares slipped over 11 percent to Rs 481.55, its 52-week low, after the IT firm reported a dip in the revenue for the first quarter of FY20.
ACC stock gained 5 percent after the cement maker posted a 38.61 percent rise in consolidated net profit at Rs 455.68 crore for the June-quarter on account of improvement in operating performance and sales.
Meanwhile, Asian stocks rose on Friday after a top Federal Reserve official cemented expectations of a U.S. interest rate cut later this month, fuelling appetite for riskier assets and keeping a cap on the dollar.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 1 percent, bouncing back from the previous day's losses, while Japan's Nikkei advanced 2 percent.
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