Mid-Session: Indices in green; Banking stocks support
07/10/2019 12:45

Indian benchmarks continued to trade in green during the noon trading session amid firm cues from the global peers. Gains were further supported by select bank and financial heavyweights. However, IT and pharma stocks were under pressure.

Shares of BEML rose almost 2 percent after the heavy equipment manufacturer bagged more orders from the Delhi Metro Rail Corporation.

Shares of HDFC Bank gained 2.6 percent intraday on October 7. The stock has rallied 10 percent in the last 15 days.

At 12:35 hours, the 30-share benchmark index was trading at 37830.83 up by 157.52 points or by 0.42 % and then NSE Nifty was at 11211.25 up by 36.5 points or by 0.33 %. Sensex touched intraday high of 37919.47 and intraday low of 37534.54 The NSE Nifty touched intraday high of 11233.85 and intraday low of 11117.85

The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 45.65,+8.30%), ICICI Bank Ltd. (Rs. 421.90,+1.97%), Axis Bank Ltd. (Rs. 669.00,+1.96%), Kotak Mahindra Bank Ltd. (Rs. 1589.30,+1.72%), HDFC Bank Ltd. (Rs. 1208.50,+1.64%), among others.

The top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 376.60,-2.41%), Oil And Natural Gas Corporation Ltd. (Rs. 127.25,-1.81%), Mahindra & Mahindra Ltd. (Rs. 555.30,-1.53%), NTPC Ltd. (Rs. 115.90,-1.32%), IndusInd Bank Ltd. (Rs. 1250.00,-1.11%), among others.

Among sectors, Bankex index was at 31780.79 up by 477.4 points or by 1.53%. YES Bank Ltd. (Rs. 45.65,+8.30%), ICICI Bank Ltd. (Rs. 421.90,+1.97%), Axis Bank Ltd. (Rs. 669.00,+1.96%), Kotak Mahindra Bank Ltd. (Rs. 1589.30,+1.72%), City Union Bank Ltd. (Rs. 221.00,+1.68%),.

On the flip side, Oil&Gas index was at 14596.9 down by -221.34 points or by -1.49%. Bharat Petroleum Corporation Ltd. (Rs. 490.40,-4.81%), Hindustan Petroleum Corporation Ltd. (Rs. 310.80,-3.10%), Oil And Natural Gas Corporation Ltd. (Rs. 127.25,-1.81%), GAIL (India) Ltd. (Rs. 130.35,-1.32%), Indian Oil Corporation Ltd. (Rs. 149.05,-1.26%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2547 , shares advanced were 994 while 1345 shares declined and 208 were unchanged.