Equities trade lower, but off day's lows; Tata Motors trims losses
Equity benchmarks have continued to trade lower, but are off their low points.
The Sensex is down 124.62 points or 0.34% at 36846.47, and the Nifty down 31.20 points or 0.28% at 11038.20. The market breadth is negative as 606 shares advanced, against a decline of 704, while 63 shares were unchanged. Indiabulls Housing has said that Softbank is investing Rs 2,800 crore of equity capital in its associate OakNorth bank, a commercial bank in UK. With this investment the total equity capital in the bank will be Rs 7,000 crore. It’s a negative start to this Friday morning, with the Sensex falling nearly 200 points, while the Nifty is holding 11,000-mark.
The Sensex is down 191.77 points or 0.52% at 36779.32, and the Nifty down 48.60 points or 0.44% at 11020.80. The market breadth is negative as 195 shares advanced, against a decline of 253 shares, while 30 shares were unchanged.
All sectoral indices are trading in the red, with maximum cuts visible in automobiles, metals, banks and infra names. The Nifty Midcap index is down around half a percent.
IndusInd Bank, Power Grid, BPCL and Grasim are the top gainers, while Tata Motors, Vedanta, and Zee Entertainment lost the most. The Indian rupee has opened higher on the back of fall in crude oil prices. The currency has opened at 71.38 per US dollar against its previous close.
The rupee on Thursday appreciated by 11 paise to close at 71.45 against the US dollar after the Reserve Bank of India cut the repo rate and changed its policy stance to 'neutral.
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