Mid-Session: Selling continues on D-St with Sensex down 600 pts
11/10/2018 12:36

Indian benchmarks trimmed some of their losses during the noon trading session after crashing over 1,030 points to slip below the key 34,000-mark in early trade, tracking a global sell-off as the rupee hit yet another record low of 74.45 against the US dollar.

Traders attributed the carnage in domestic bourses to the sell-off in international bourses after US stocks tumbled on heavy correction in tech stocks, fresh concerns over Fed rate hike and looming impact of the US' trade war with the China.

Rising 10-year US treasury bonds, jumping above 3 per cent last week and the International Monetary Fund (IMF) slashing its global growth forecast and weakness in emerging markets, too spooked investors.

At 12:25 hours, the 30-share benchmark index was trading at 34149.44 down by 611.45 points or by 1.76 per cent, while the NSE Nifty was at 10274.25 down by 185.85 points or by 1.78 per cent. In the choppy trade so-far, Sensex touched intraday high of 34151.39 and intraday low of 33723.53 The NSE Nifty touched intraday high of 10274.5 and intraday low of 10138.6.

The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 249.70,+6.69%), Oil And Natural Gas Corporation Ltd. (Rs. 151.25,+1.75%), among others.

The top losers of the BSE Sensex pack were State Bank of India (Rs. 264.10,-5.03%), Tata Steel Ltd. (Rs. 560.60,-3.85%), Infosys Ltd. (Rs. 680.50,-2.83%), IndusInd Bank Ltd. (Rs. 1596.30,-2.63%), Kotak Mahindra Bank Ltd. (Rs. 1110.50,-2.41%), among others.

Among the sectors, Oil&Gas index was at 12605.52 up by 85.9 points or by 0.69%. Hindustan Petroleum Corporation Ltd. (Rs. 189.85,+5.12%), Oil And Natural Gas Corporation Ltd. (Rs. 151.25,+1.75%), Bharat Petroleum Corporation Ltd. (Rs. 269.35,+1.60%), Indian Oil Corporation Ltd. (Rs. 126.25,+1.57%), GAIL (India) Ltd. (Rs. 339.65,+0.88%),.

On the flip side, IT index was at 14514.77 down by -376.86 points or by -2.53%. Infibeam Avenues Ltd. (Rs. 53.80,-7.96%), NIIT Technologies Ltd. (Rs. 1111.10,-7.06%), Allsec Technologies Ltd. (Rs. 248.45,-4.99%), 8K Miles Software Services Ltd. (Rs. 127.75,-4.98%), Intense Technologies Ltd. (Rs. 38.25,-4.73%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2528 , shares advanced were 757 while 1645 shares declined and 126 were unchanged.