Reliance Industries, ICICI Bank drag Sensex 100 points down

Source:- indiainfoline.com

Equity benchmark indices open flat with negative bias amid the ongoing geopolitical tensions and persisting concerns over NBFC liquidity situation.

Reliance Industries, ICICI Bank, Kotak Mahindra Bank and IndusInd Bank were the top contributors to the index losses, Power Grid, Bajaj Finance, HUL and L&T was gained on the Sensex.

On the sectoral front, realty, pharma, and media were trading lower by 1%, auto and banking fell marginally.

The Sensex was trading at 39,604 levels, down 137 points, while the Nifty was trading lower 50 points at 11,864 levels. The market breadth was negative on the NSE with 563 shares advancing, 950 shares declining, and 559 remaining unchanged.

On the economy front, Wholesale Price Index (WPI)-based inflation data will be released today afternoon

The Indian rupee traded little changed at 69.57 against the US dollar compared to the yesterday’s close of 69.51.

Shares of Gruh Finance dropped 7% in the morning trade after 3.08cr shares or 4.2% equity of the company changed hands in multiple block deals.

Shares of Hexaware Tech rose 2% after it acquired US-based Mobiquity Inc for a total consideration of about $182 million (~Rs1,266cr).

The Volatility gauge, India VIX was up 1.79% at 13.90.

The most active stocks on the NSE are Gruh Finance, Indiabulls Housing, Yes Bank and IndusInd Bank.

Meanwhile, crude oil prices were trading marginally down with Brent trading 0.02% down at $61.3/bbl, while WTI dropped 0.3% at $52.12/bbl. Notably, oil prices have recovered from five-month low levels.