Sensex, Nifty open negative; Oil prices drop
12/06/2019 09:40

The domestic benchmark indices opened lower on Wednesday ahead of the release of CPI inflation for May and IIP growth print for April. Among sectors, power and metal are trading higher while other indices including IT, pharma, auto, bank and infra are trading lower. Oil prices dropped by a weaker oil demand outlook and a rise in the US crude inventories. The Indian rupee opened flat at 69.45 per dollar. Among others, the shares of YES Bank fell over 3 per cent after global rating agency Moody’s placed its foreign currency issuer rating of Ba1 under review for downgrade as liquidity pressures on finance companies may negatively impact credit profile of Indian private lender.

At 09:24 hours, the SENSEX was trading at 39794.62 down by -155.84 points or by -0.39 per cent and then NSE Nifty was at 11926 down by -39.6 points or by -0.33 per cent.

The top gainers of the BSE Sensex were Vedanta Ltd. (Rs. 171.05,+1.06%), Tata Motors Ltd. (Rs. 85.40,+0.95%), Tata Steel Ltd. (Rs. 496.35,+0.72%), Asian Paints Ltd. (Rs. 1436.05,+0.69%), Tata Motors Ltd. (Rs. 171.65,+0.59%), among others. On the other hand, the top losers of the BSE Sensex were YES Bank Ltd. (Rs. 136.00,-2.37%), Hero MotoCorp Ltd. (Rs. 2745.65,-1.09%), Housing Development Finance Corporation Ltd. (Rs. 2169.80,-0.94%), Bharti Airtel Ltd. (Rs. 359.70,-0.94%), HCL Technologies Ltd. (Rs. 1097.40,-0.91%), among others.

Among sectors, Power index was at 2013.69 up by 3.99 points or by 0.2%. Tata Power Company Ltd. (Rs. 67.20,+1.36%), Bharat Heavy Electricals Ltd. (Rs. 70.40,+1.00%), ABB India Ltd. (Rs. 1564.70,+0.93%), JSW Energy Ltd. (Rs. 70.80,+0.78%), Adani Power Ltd. (Rs. 48.60,+0.73%),. On the flip side, IT index was at 15997.02 down by -100.56 points or by -0.62%. Genesys International Corporation Ltd. (Rs. 90.00,-7.02%), Rolta India Ltd. (Rs. 5.40,-4.59%), Birlasoft Ltd. (Rs. 92.50,-1.96%), 8K Miles Software Services Ltd. (Rs. 87.75,-1.90%), HCL Infosystems Ltd. (Rs. 14.20,-1.39%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1122 , shares advanced were 467 while 610 shares declined and 45 were unchanged.