Tuesday, April 20

Equity indices trade with negative bias, financial stocks suffer


Equity benchmark indices traded in red with thin margins during early hours on Monday tracking mixed cues from Asian markets.

At 10:20 am, the BSE S&P Sensex was down by 278 points or 0.6 percent at 49,580 while the Nifty 50 fell by 57 points or 0.4 percent to 14,686.

Most sectoral indices at the National Stock Exchanges were in the negative terrain expect from Nifty pharma which was up by 1.3 percent while realty was up by 1.2 percent. Nifty FMCG, metal, and IT also gained marginally.
Nifty private bank slipped by 0.9 percent, financial services by 0.7 percent.

Among stocks, Powergrid and IndusInd Bank skidded by 2 percent each while Reliance fell by 1.9 percent to Rs 2,041 per share.

The banking sector also traded with negative bias with Axis Bank, HDFC Bank, and ICICI Bank among the losers.
However, Adani Ports and Cipla gained by 2.2 percent each, Sun Pharma was up by 2 percent to Rs 588 per share. Divi’s Laboratories ticked up by 1.8 percent and BPCL by 1.7 percent to Rs 440 per share.

Dr. Reddy, Britannia, Wipro, Gail, and Tech Mahindra were among other prominent gainers.

Meanwhile, Hong Kong’s Hang Seng skidded by 0.18 percent and Japan’s Nikkei 225 by 1.32 percent. South Korea’s Kopsi edged higher marginally. (ANI)