Sensex, Nifty At Day’s Lows; Hindalco, Tata Steel Top Losers

The domestic markets extended the losses in noon trading amid volatililty, due to weakness in index heavyweight Reliance Industries and metal stocks. At 1:10 pm, the BSE Sensex was trading at 52,537.05, lower by 237.95 points or 0.45 per cent and the NSE Nifty was at 15,785.20, down 84 points or 0.53 per cent. The broader markets are also trading lower, with the BSE Midcap index and BSE Smallcap index losing 0.4 per cent each.

In the currency markets, the rupee is trading at day’s low at 73.37 per dollar. It had opened flat at 73.29 per dollar against the previous close of 73.31.

On the IPO front, the KIMS Hospitals IPO and Dodla Dairy IPO have opened for trading today. Dodla Dairy shares are being offered in the price band of Rs 421-428 per share and Krishna Institute of Medical Sciences (KIMS Hospitals)’ shares are being offered in the price band of Rs 815-825 a share.

And the ongoing public offer of Shyam Metalics and Energy has received subscription of 6.18 times till afternoon on the final day of bidding as investors put in bids for over 13 crore equity shares against an offer size of 2.1 crore equity shares

Meanwhile, eight of 11 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Metal index’s 0.6 per cent fall. The Nifty Auto, IT and Pharma indices were also trading with a negative bias. On the other hand, FMCG and PSU Banking shares were witnessing buying interest.

On the stock-specific front, Adani Ports has dived 4 per cent at Rs 730 to top the loser’s list on the NSE. Metal stocks are trading weak, with Hindalco, Tata Steel and JSW Steel losing around 2-3 per cent each on the NSE. And index heavyweight Reliance Industries has lost 1.4 per cent.

On the other hand, Nestle, Tata Consumer Products and ONGC are among the major stocks to buck the weak trend with gains of around a per cent each.