Sensex, Nifty trade weak ahead of Gujarat exit polls; TCS, Wipro top losers


Dalal Street

Benchmark indices mildly recover after sharp fall, as investors eagerly awaited exit polls results later today after the end of second phase of Gujarat Assembly elections.

The Sensex languished below the 33,000 level after skidding below that level in mid-morning trade.

At 1:28 PM, the BSE Sensex was trading at 33,050, slipping 3 points, while the broader Nifty50 index was trading at 10,181, down 12 points.

The selling pressure was broad-based, as the BSE Midcap Index fell 0.29% and the BSE Smallcap Index declined 0.28%.

On the economy front, India's inflation based on the wholesale price index, stood at 3.93% for the month of November 2017, as compared to 3.59% for the previous month and 1.82% during the corresponding month of the previous year.

Power, Consumer Durables, Utilities, IT and Industrial Index were the top losers on the BSE, while Pharma, Oil and Gas, Energy, Auto and Telecom were the top gainers.

Capital goods stocks declined. BEML (-1.42%), Siemens (-1.18%), Thermax (- 0.87%), BHEL (- 0.56%), Bharat Electronics (- 0.44%), Havells India (- 0.43%) and ABB India (- 0.39%) edged lower.

L&T was down 0.43%, as the company said it has successfully commissioned and handed over the state-of-the-art 225 megawatts (MW) Sikalbaha Combined Cycle Power Plant to Bangladesh Power Development Board (BPDB) for commercial operation.

Dr. Reddy’s (+1.8%), Tech Mahindra (+1.8%),  HCL Tech (+1.4%), HPCL (+1.4%) and M&M (+1.2%) were the top gainers on the Nifty50.

TCS (-3%), UP (-1.9%), GAIL (-1.8%), Bajaj Finance (-1.7%) and Ambuja (-1.3%) were the top losers in today’s trade.

India VIX gained 4.95%.

Out of 1,990 stocks traded on the NSE, 446 advanced, 1,208 declined and 316 remained unchanged today.

A total of 37 stocks registered a fresh 52-week high in trade today, while 26 stocks touched a new 52-week low on the NSE.

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