Mumbai, India (BBN) – Following weak Asian cues, the Nifty and the Sensex were trading down by nearly 0.7 per cent.
At 10:50am, the 30-share BSE index Sensex was down 128.10 points or 0.48 per cent at 26,619.08 and the 50-share NSE index Nifty was down 52.65 points or 0.64 per cent at 8,209.10, reports The Hindu Business Line.
All the broader and sectoral indices barring Nifty Realty and Nifty PSU Banks were trading in the red.Volatility was down 3.2 per cent with the India Vix quoting at 14.5850.
Among BSE sectoral indices, auto index fell the most by 1.12 per cent, TECk 0.87 per cent, IT 0.85 per cent and FMCG 0.81 per cent. On the other hand, metal index was up 0.32 per cent, PSU 0.21 per cent and infrastructure 0.07 per cent.
Major Sensex losers were Asian Paints (-2.3%), Bajaj Auto (-1.75%), Tata Motors (-1.63%), Infosys (-1.49%) and Maruti (-1.43%), while the top five gainers were ONGC (+1.65%), Reliance (+1.13%), Sun Pharma (+0.74%), SBI (+0.53%) and Power Grid (+0.51%).
A report by SMC Global said: “Asian share markets stumbled after initially opening higher on a surge in crude oil prices following an output cut deal reached at the weekend between OPEC and non-OPEC producers. US stocks rose to fresh records on Friday, capping their best week since the presidential election. The gains extend a month-long rally for stocks as investors pour money into companies that benefit from stronger economic growth and fiscal stimulus. Producer prices in Japan picked up 0.4 per cent on month in November, the Bank of Japan said. That beat expectations for 0.3 per cent following the 0.1 per cent decline in 0.1 per cent in October.”