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Category :
market
Headline :
Mid-Session: Indices continue to trade lower; oil & gas, power and auto up
Date:
25/07/2024 13:03
Indian benchmarks continued to trade in negative terrain lower by 200 points during the late morning deals. Among sectors, bank, IT, realty metal down 0.5-1 percent, while oil & gas, power, auto, capital goods up 0.5-1 percent.
On the corporate front, Tech Mahindra and Canara Bank fell around 1 percent ahead of their earnings results. Reliance Industries dropped nearly 1 percent after it obtained approval from the United States to resume oil imports from Venezuela.
Furthermore, Metal stocks such as Tata Steel and Hindalco fell around 2 percent on concerns about slowing Chinese growth. Larsen & Toubro rallied 2.3 percent on reporting a 12 percent rise in Q1 net profit.
At 12:46 hours, the 30-share benchmark index was trading at 79940.25 down by -208.63 points or by -0.26 % and then NSE Nifty was at 24370.9 down by -42.6 points or by -0.17 %.
In the volatile trade so-far, Sensex touched intraday high of 79978.51 and intraday low of 79477.83 The NSE Nifty touched intraday high of 24379.2 and intraday low of 24210.80.
The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 1079.15,+5.01%), Larsen & Toubro Ltd. (Rs. 3613.30,+2.67%), Kotak Mahindra Bank Ltd. (Rs. 1766.50,+1.17%), Power Grid Corporation of India Ltd. (Rs. 340.55,+1.01%), HDFC Bank Ltd. (Rs. 1618.00,+0.83%), among others.
The top losers of the BSE Sensex pack were Axis Bank Ltd. (Rs. 1158.00,-6.59%), Nestle India Ltd. (Rs. 2464.25,-3.13%), Titan Company Ltd. (Rs. 3397.50,-2.17%), Tata Steel Ltd. (Rs. 157.65,-1.65%), ICICI Bank Ltd. (Rs. 1202.45,-1.65%), among others.
Among the sectors, Oil&Gas index was at 31625.1 up by 744.22 points or by 2.41%. Oil India Ltd. (Rs. 584.15,+7.59%), Hindustan Petroleum Corporation Ltd. (Rs. 372.25,+5.21%), Indian Oil Corporation Ltd. (Rs. 174.70,+3.53%), Oil And Natural Gas Corporation Ltd. (Rs. 329.30,+3.07%), Bharat Petroleum Corporation Ltd. (Rs. 323.80,+2.79%),.
On the flip side, Bankex index was at 57998.62 down by -785.35 points or by -1.34%. Axis Bank Ltd. (Rs. 1158.40,-6.56%), ICICI Bank Ltd. (Rs. 1203.50,-1.57%), Canara Bank (Rs. 110.80,-1.51%), IndusInd Bank Ltd. (Rs. 1379.65,-1.25%), Bank of Baroda (Rs. 246.30,-1.14%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4098 , shares advanced were 2103 while 1841 shares declined and 154 were unchanged.
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