Indices snaps 8-day rally; ONGC, Power Grid, GAIL among top losers

Bombay Stock Exchange, BSE

 The Indian stock market snapped eight-day rally ahead of expiry of November derivative contracts on Thursday. The Sensex and Nifty were trading on a subdued note as gains in HDFC twins were offset by losses in Reliance Industries, ITC and ICICI Bank.

Among the sectoral indices, Nifty metal, Nifty Realty and Nifty Media registered gains 0.69%, 0.14% and 0.42% respectively, while the losses were posted by the Nifty IT, Pharma and PSU Bank indices.

At 12:36 PM, Sensex was down 67 points to 33,657 and the Nifty50 Index slipped 15 points to 10,384. In BSE, the mid-cap and small-cap shares outperformed the large-cap shares. The BSE MidCap Index rose 0.29% and the BSE SmallCap Index advanced 0.43%.

The Indian rupee rose as much as 0.22% to 64.36 per US dollar, its highest level in over two months.

India VIX gained by 0.26% at 13.07 level.

Out of 1,983 stocks traded on the NSE, 940 advanced, 679 declined, and 364 remained unchanged today.

A total of 114 stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Bharat 22 ETF made a decent debut on Tuesday on the BSE, as the open-ended exchange traded fund got listed at 36.30/unit on BSE, a 0.91% premium over its issue price of Rs35.97 per unit.

Reliance Communications fell 7% to Rs12.45 after China Development Bank has become the first lender to file a case against debt-ridden Reliance Communications under the Insolvency and Bankruptcy Code.

Shares of Glenmark Pharmaceuticals fell 2% after the USFDA issued Form 483 with seven observations for its Baddi plant in Himachal Pradesh, the company said in the BSE filing.

Shares of Rallis India after Franklin Templeton Mutual Fund bought 17.81 lakh shares or 0.9% equity stake at Rs 230 each.

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