Market

Sensex, Nifty edge lower as IT, metal stocks drag; Yes Bank plunges 5%

Updated : November 26, 2018 12:24 PM IST

The Nifty MidCap was down by 0.6 percent, while the BSE MidCap slipped by more than half a percent.

Shares of Bharti Airtel, Asian Paints, Hindustan Unilever, HPCL, BPCL, Asian Paints, Axis Bank and HDFC Bank surged by up to 2.5 percent.

Yes Bank, ONGC, Vedanta, NTPC and Tata Steel shares dipped by up to 5 percent.

Sensex, Nifty edge lower as IT, metal stocks drag; Yes Bank plunges 5%

Indian shares gave up morning gains to trade lower by Monday noon on the back of selling pressure seen in metal and technology stocks.

Domestic benchmark indices under-performed its Asian peers with the Nifty falling 0.27 percent, or by 28 points, to trade below the 10,500 mark, at 10,498.50 at 11.50 am. The Sensex also edged lower, slipping by 71 points, or 0.20 percent, to trade at 34,909.94.

Earlier, the Sensex jumped 137 points at 35,118 in opening trade, while the Nifty was also up by more than 41 points at 10,568.

Among sectoral indexes, as many as 11 sectors declined as against 32 rising. BSE Telecom rose nearly a percent, topping the gaining sectors, while BSE Metal dipped more than 2 percent, being the weakest among lagging sectors.

Shares of Bharti Airtel, Asian Paints, Hindustan Unilever, HPCL, BPCL, Asian Paints, Axis Bank and HDFC Bank surged by up to 2.5 percent.

Yes Bank, ONGC, Vedanta, NTPC and Tata Steel shares dipped by up to 5 percent.

The S&P BSE Information Technology index was down 0.3 percent, dragged lower by Infosys, Tech Mahindra and TCS.

In the currency market, the rupee failed to hold onto the opening gains against the US dollar, slipping to 70.61 levels. The home currency had opened at higher against the US dollar at 70.46, up 23 paise against Thursday's close of 70.69.

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