Nifty above 11270; Union Bank falls over 7%
15/05/2019 11:44

The frontline indices are trading green led by IT and OMC’s and is maintaining a marginal high figure. The shares of Union Bank of India dipped as much as 7.4 per cent to Rs 73.45 in Wednesday's trade. The majority state-owned lender posted March-quarter loss of Rs 33.69 billion, or USD 14.2 million, on Tuesday, while provisions for non-performing assets rose by 2.6 per cent. UBI's forward PE of 19.96 is above the sector average of 18.31.

At 11:22 hours, the SENSEX was trading at 37527.38 up by 208.85 points or by 0.56 per cent and then NSE Nifty was at 11273 up by 50.95 points or by 0.45 per cent. The BSE Sensex touched intraday high of 37552.49 and intraday low of 37368.04 The NSE Nifty touched intraday high of 11286.8 and intraday low of 11235.35.

The top gainers of the BSE Sensex were Tata Consultancy Services Ltd. (Rs. 2121.80,+1.31%), Tata Steel Ltd. (Rs. 475.75,+1.28%), Reliance Industries Ltd. (Rs. 1275.50,+1.27%), Bajaj Finance Ltd. (Rs. 2913.65,+1.03%), Mahindra & Mahindra Ltd. (Rs. 622.25,+1.01%), among others. On the other hand, the top losers of the BSE Sensex were YES Bank Ltd. (Rs. 149.65,-4.16%), Coal India Ltd. (Rs. 237.90,-1.80%), Tata Motors Ltd. (Rs. 84.80,-1.80%), Tata Motors Ltd. (Rs. 181.55,-1.52%), Bajaj Auto Ltd. (Rs. 2911.80,-0.84%), among others.

Among sectors, IT index was at 15455.06 up by 126.61 points or by 0.83%. Subex Ltd. (Rs. 7.37,+5.44%), 63 Moons Technologies Ltd. (Rs. 165.30,+4.99%), Tanla Solutions Ltd. (Rs. 47.65,+4.96%), Rolta India Ltd. (Rs. 6.78,+4.95%), Brightcom Group Ltd. (Rs. 5.22,+4.82%),. On the flip side, Metal index was at 10531.82 down by -28.62 points or by -0.27%. Jindal Steel & Power Ltd. (Rs. 157.75,-2.20%), Coal India Ltd. (Rs. 237.90,-1.80%), JSW Steel Ltd. (Rs. 277.15,-1.14%), Hindalco Industries Ltd. (Rs. 192.60,-0.31%), Hindustan Zinc Ltd. (Rs. 255.80,-0.29%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2348 , shares advanced were 1212 while 956 shares declined and 180 were unchanged.