Market

Sensex up 44 points, Nifty50 trading above 11,000 as auto, PSU banks gain

Updated : August 16, 2019 12:49 PM IST

Indian equity benchmark indices pared losses during Friday afternoon trade on the back of gains in auto stocks and PSU Banks'.

Sectors that traded in green on Friday were Nifty PSU Bank, Nifty Auto and Nifty Realty, while Nifty IT, Nifty Pharma and Nifty Media were trading in red.

YES Bank, UPL, GAIL, Grasim and Maruti Suzuki were the top-gainers while Indiabulls Housing Finance, TCS, Dr Reddy's Laboratories, Vedanta and HCL Technologies remained the top laggards.

Indian equity benchmark indices pared losses during Friday afternoon trade on the back of gains in auto stocks and PSU banks. Nifty Midcap 100 was trading higher by 0.25 percent while Nifty Smallcap 100 was up only 0.02 percent.

At 12:25 pm, the S&P BSE Sensex was trading at 37,353.12, higher by 43.85 points or 0.12 percent while the Nifty50 was at 11,044.25, higher by 14.85 points or 0.18 percent.

Nifty PSU Bank, Nifty Auto and Nifty Realty traded in green on Friday while Nifty IT, Nifty Pharma and Nifty Media were trading in red.

YES Bank, UPL, GAIL, Grasim and Maruti Suzuki were the top-gainers while Indiabulls Housing Finance, TCS, Dr Reddy's Laboratories, Vedanta and HCL Technologies were the top laggards.

Shares of IDBI Bank plunged 12 percent on Friday after the public lender reported a net loss in the June 2019 quarter as bad loans increased. Intraday, IDBI Bank's share price fell as much as 11.94 percent to Rs 23.95 per share on the NSE.

Meanwhile, Asian shares found some footing on Friday after a turbulent week as China hinted at more support for its economy, amid growing expectations of aggressive stimulus from all the major central banks. MSCI's broadest index of Asia-Pacific shares outside Japan responded by edging up 0.2 percent, though it was still down 1 percent for the week.

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