Sensex down nearly 130 pts, Nifty near 10760; ICICI Bank, SBI, RIL top losers
16/05/2018 14:22

The markets continued to trade deep in the red after a brief recovery in the previous session on Wednesday. Meanwhile, recovery in the value of rupee and a dip in global crude oil prices despite uncertainty over Karnataka assembly election outcome is having an impact on the market.

Also, stock-specific action is likely to continue during the day as more companies release their March quarter results. Among key results, Birla Corporation, Hindalco Industries, ITC and Tata Steel are likely to announce their March 2018 quarter earnings later in the day.

Globally, Asian shares declined in early trade after North Korea called off talks with South Korea, throwing a major US-North Korean summit into question.

European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.20% while Germany's DAX is up 0.18% and France's CAC 40 is up 0.10%.

Back home, at 14:05 hours, BSE SENSEX was at 35415.16 down by -128.78 points or by -0.36 % and then NSE Nifty was at 10765.35 down by -36.5 points or by -0.34 %.

The BSE Sensex touched intraday high of 35543.89 and intraday low of 35241.63. The NSE Nifty touched intraday high of 10790.45 and intraday low of 10699.7.

The top losers of the BSE Sensex pack were ICICI Bank Ltd. (Rs. 299.35,-2.81%), Hero MotoCorp Ltd. (Rs. 3568.35,-2.32%), Reliance Industries Ltd. (Rs. 962.50,-1.72%), State Bank of India (Rs. 245.15,-1.39%), Adani Ports & Special Economic Zone Ltd. (Rs. 403.40,-1.31%), among others.

The top gainers of the BSE Sensex pack were Hindustan Unilever Ltd. (Rs. 1572.90,+3.75%), ITC Ltd. (Rs. 287.90,+2.16%), Tata Motors Ltd. (Rs. 183.65,+1.41%), YES Bank Ltd. (Rs. 349.90,+1.23%), Wipro Ltd. (Rs. 273.65,+1.20%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2743, shares advanced were 992 while 1611 shares declined and 140 were unchanged.