Mumbai, India (BBN) – The benchmark BSE Sensex was trading down by nearly 140 points as marketmen have raised concerns over the Centre’s future reform policies in view of appointment of Yogi Adityanath as the Chief Minister of the country’s most populous state.
At 12:45pm, the Sensex was down 138.35 points or 0.47 per cent at 29,510.64 and the 50-share NSE index Nifty was down 34.15 points or 0.37 per cent at 9,125.90, reports The Hindu Business Line.
Among BSE sectoral indices, IT index fell the most by 1.26 per cent, followed by TECk 1.12 per cent, metal 0.77 per cent and banking 0.45 per cent.
On the other hand, consumer durables index was up 0.84 per cent, healthcare 0.5 per cent, realty 0.45 per cent and PSU 0.14 per cent.
Top five Sensex losers were ICICI Bank (-2.39 per cent), Infosys (-1.95 per cent), TCS (-1.63 per cent), Tata Steel (-1.46 per cent) and Axis Bank (-1.41 per cent), while the major gainers were Lupin (+0.83 per cent), HDFC (+0.67 per cent), HDFC Bank (+0.56 per cent), NTPC (+0.47 per cent) and GAIL (+0.39 per cent).
Marketmen are particularly concerned about any large-scale selling by the foreign investors who tend to react promptly to any such development.
However, Some analysts are hopeful that macroeconomic factors such as further movement on the GST rollout decision would eventually decide the course for the stock market, after a temporary hit from the development in Uttar Pradesh.