Midday Market Update: Sensex, Nifty Off Day’s Low; Metal, Auto Stocks Slide, I.T. Pack Resilient
The Sensex lost over 650 points (1.13%) to 57,445.24. The 30-stock gauge lost 1,060.68 points to an intraday low of 57,038.24.
Today 13 of Nifty 50 stocks declined while 37 fell. Tata Motors, Hindalco, Eicher Motors, Adani Ports & SEZ, Power Grid were the top Nifty 50 losers.
Divi’s Laboratories, Infosys, Asian Paints, HCL Technologies, Nestle India were among the gainers in the weak session.
The broader indices underperformed their larger peers with MidCap index losing 2.5% and SmallCap measure shedding 3%.
Barring Information Technology and Teck gauges, all the other 17 sectoral indices compiled by BSE declined.
The market breadth is skewed in the favour of bears. About 516 stocks rose, 2,959 fell and 126 remained unchanged
Read More: Sensex, Nifty Off Day’s Low; I.T. Stocks Buck The Trend