Benchmark indices extended losses for the fourth straight session with Nifty slipping below 11,000 mark led by banking, realty, finance and metal stocks.
Benchmark indices were in red with the Nifty50 below 11,000 points, weighed by weakness in global markets and as investor sentiment remained dampened following the LCTG tax on equity investments.
At 10:04 AM, the BSE Sensex was trading at 35,571, down 336 points, while the Nifty50 index was trading at 10,933, down 93 points.
The losses were broad-based as the BSE MidCap Index fell 1.7% and the BSE SmallCap Index slumped 2.07%.
Among sectors, Nifty PSU Banks Index was down 2.1% and was the worst hit, while, NiftyIT and Nifty FMCG were up 0.5% and 0.7%, respectively.
ITC stock gained for second day in a row, rising over 2% after the government kept the cess on cigarettes unchanged.
PC Jeweller stock dropped more than 25%, extending fall to 4 days in a row.
Shares of Ashok Leyland gained 2% after the company’s Oct-Dec net profit was above analyst estimate.
Bajaj Auto stock rose 1% after its sales rose 46% in January to 3,53,147 units.
Shares of Info Edge India rose 2% after the company said it will sell 6.7% stake in Zomato for $50 mn.
Volatility index India VIX gained 0.86% at 14.2300.
ITC (+2.2%), HCL Tech (+1.7%), Eicher (+1.6%), Sun Pharma (+1.6%) and Aurobindo (+1.3%) were the top gainers on Nifty50.
Indiabulls HF (-3.5%), HDFC (-2.9%), ONGC (-2.5%), Bajaj Finance (-2.4%) and IndusInd Bank (-2%) were the top losers in today’s trade.
Out of 2,015 stocks traded on the NSE, 190 advanced, 1,422 declined and 403 remained unchanged today.
A total of five stocks registered a fresh 52-week high in trade today, while 42 stocks touched a new 52-week low on the NSE.
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