Markets continued to remain under pressure on Thursday morning as financial heavyweights like ICICI Bank, HDFC, and HDFC Bank declined by 1-2% each. More than two thirds of the scrips on Sensex were trading lower compared to yesterday's close.
At 10:25 hours, the 30-share Sensex was down 78 points at 20,645, while the Nifty-50 was down by 31 points at 6,122.
Broader markets performed better than the benchmark, with the BSE Mid-cap and Small-cap gaining modestly by 0.05% and 0.03% respectively, compared to Sensex's fall of 0.37%.
At 62.34, the rupee depreciated by 0.14 compared to Tuesday's close of of 62.20 versus the dollar due to increased demand for the American currency from importers. Forex dealers said a weak opening in the domestic stock market also put pressure on the local currency but dollar's weakness against other currencies limited the fall.
Breadth of the market was marginally negative, with 810 advances, 860 declines, and 92 scrips remaining unchanged.
Sectors and Stocks
The S&P BSE Bankex was down by 136 points, or 1.16%, to 11,975. All scrips in the Bankex were trading in the red, with Bank of Baroda, HDFC Bank, ICICI Bank, PNB, State Bank of India, and Federal Bank each declining by 1.1-2.3%.
Metal shares also remained weak on the back of disappointing preliminary Chinese PMI data. Tata Steel, JSW Steel, Hindalco Industries, Steel Authority of India, Jindal Steel and Power and Sesa Sterlite have decreased by 1-2% each on the BSE.
Amongst other shares, Rhodia Specialty is locked in its upper circuit of 10% at Rs 798 after Solvay SA, one of the promoter of the company increased the delisting offer price to Rs 675 per share.
Shares of Hexaware Technologies which had surged on the back of huge volumes yesterday witnessed profit taking and were down nearly 5% at Rs 153 after the stock was quoted ex-dividend from today.
At 10:25 hours, the 30-share Sensex was down 78 points at 20,645, while the Nifty-50 was down by 31 points at 6,122.
Broader markets performed better than the benchmark, with the BSE Mid-cap and Small-cap gaining modestly by 0.05% and 0.03% respectively, compared to Sensex's fall of 0.37%.
At 62.34, the rupee depreciated by 0.14 compared to Tuesday's close of of 62.20 versus the dollar due to increased demand for the American currency from importers. Forex dealers said a weak opening in the domestic stock market also put pressure on the local currency but dollar's weakness against other currencies limited the fall.
Breadth of the market was marginally negative, with 810 advances, 860 declines, and 92 scrips remaining unchanged.
Sectors and Stocks
The S&P BSE Bankex was down by 136 points, or 1.16%, to 11,975. All scrips in the Bankex were trading in the red, with Bank of Baroda, HDFC Bank, ICICI Bank, PNB, State Bank of India, and Federal Bank each declining by 1.1-2.3%.
Metal shares also remained weak on the back of disappointing preliminary Chinese PMI data. Tata Steel, JSW Steel, Hindalco Industries, Steel Authority of India, Jindal Steel and Power and Sesa Sterlite have decreased by 1-2% each on the BSE.
Amongst other shares, Rhodia Specialty is locked in its upper circuit of 10% at Rs 798 after Solvay SA, one of the promoter of the company increased the delisting offer price to Rs 675 per share.
Shares of Hexaware Technologies which had surged on the back of huge volumes yesterday witnessed profit taking and were down nearly 5% at Rs 153 after the stock was quoted ex-dividend from today.
Source: Hindi News
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