Indian equity market ended with mild losses on Monday after trading largely lower for the day. The Sensex ended at 34,951, down by 61 points, or 0.17 percent, while the Nifty settled at 10,528, lower by 25 points, or 0.24 percent. The Nifty MidCap declined by 0.39 percent, while the BSE MidCap slipped by nearly half a percent.
Nifty PSU Banks was leading the 12 advancing sectors, rising by 3 percent as SBI shares jumped ahead of its Q2 results. The bank's net profit declined by 40 percent, but beat the street estimates of loss. BSE CPSE was the biggest laggard among 31 declining sectors, down by 1.6 percent.
Among gainers, SBI, Axis Bank, UPL, Wipro, HLC Technologies, Reliance Industries and Bajaj Auto, surged by up to 3.45 percent. Cipla, Indian Oil Corp., Indiabulls Housing, IndusInd Bank, BPCL, Power Grid Corp., ONGC, Hero MotoCorp, declined by up to 3.27 percent.
(Market update as of 3.40 pm)
Sensex, Nifty extend losses on weak cues; OMCs among major losers
The BSE Sensex and the NSE Nifty50 extended losses on Monday after a weak opening, tracking tepid global cues and volatility in the currency market.
The Sensex slipped below the 35,000 mark, trading at 34,841, down by 170 points at 11.45 am, while the Nifty was trading at 10,480, lower by 72 points.
Weakness in broader markets was more sharp, with the Nifty MidCap down by 0.73 percent. The BSE MidCap was lower by 0.63 percent.
Only seven sectoral indidces advanced led by the Nifty PSU Bank, which rose 1.62 percent. Nifty PSU Banks' gains were supported by SBI and Bank of Baroda. Nifty IT and metal and BSE Metal were other gaining sectors.
BSE Power was leading the 36 declining sectors, falling by up to 2.12 percent. NTPC which fell more than 3 percent and Power Grid which was down by 2.3 percent along with Tata Power dragged the index.
Axis Bank, SBI, Tech Mahindra, HCL Technologies, Maruti Suzuki, Coal India and Wipro were major gainers on indexes, moving higher by up to 2.8 percent.
Indiabulls Housing traded lower by 7.2 percent, leading the Nifty charts among top losers. Oil marketing companies were among the laggards as US sanctions against Iran came into effect on Monday. IOC, HPCL and BPCL fell by up to 5 percent.
NTPC, IndusInd Bank, Power Grid, Hero MotoCorp and HDFC were other major laggards, declining by up to 3.5 percent.
The rupee traded at 72.86 against the US dollar on Monday at 12 pm, after opening at 72.80 against the greenback.
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First Published: IST