Sensex Off Day’s High, Nifty Below 9,800; Mid-Caps Underperform

Sensex Off Day's High, Nifty Below 9,800; Mid-Caps Underperform

The Sensex and Nifty came off the record highs made earlier in the day and were trading marginally higher as investors booked profits in banking, FMCG, realty and pharma shares. Losses were steep in broader markets as the mid-cap and small-cap shares came under selling pressure. Earlier in the day, the Indian shares hit a record high for a second consecutive session on Tuesday tracking gains in global markets, with the NSE Nifty breaching 9,800 points for the first time as trading turned normal a day after a major technical disruption.

As of 3:07 pm, the Sensex was up 0.12 per cent or 39 points at 31,755 and Nifty was at 9,789, up 0.18 per cent or 18 points at 9,789.

On the sectoral front, FMCG, banking, real estate, pharma and metals shares faced selling pressure on account of profit-taking. While, IT and auto heavyweights were witnessing buying interest which capped losses for the benchmark indices.
From the Nifty basket of shares, 29 were trading higher while 22 were among the laggards. Hindalco, Tata Motors, Bajaj Auto, NTPC, TCS, Infosys, Mahindra & Mahindra and ACC were among the gainers. On the other hand, Bharti Airtel, Bank of Baroda, Wipro, Coal India, ONGC, Kotak Mahindra Bank, ITC, State Bank of India, Tata Power and Axis Bank were among the losers.

The broader markets were underperforming the benchmark indices as the mid-cap and small-cap shares came under heavy selling. The BSE mid-cap index fell 0.76 per cent and the small-cap index declined 0.52 per cent.

The overall market breadth was negative as 1,584 shares were declining while 1,120 were advancing on the BSE.

 

 

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