Tuesday 19 May 2015

Market weak; pharma, oil & gas stocks slip

The CNX Midcap and Smallcap indices are slightly down at 13,057 and 4,357, respectively. The Volatility index - India VIX - has jumped 3 percent at 18.45. 

The market bucked the global trend and started the day on a negative note, as the BSE Sensex opened marginally lower by 24 points at 27,663 and the NSE Nifty was down 17 points at 8,356.

At 9:32 AM, the S&P BSE Sensex is trading at 27,610 down 77 points, while NSE Nifty is trading at 8,340 down 34 points.

The BSE Mid-cap Index is trading up 0.04% at 10,671, whereas BSE Small-cap Index is trading up 0.09% at 11,158.

Some buying activity is seen in metal, banking, capital goods and fmcg sectors, while pharma, auto and consumer durable goods sectors are showing weakness on BSE.

Hero Motocorp, Tata Power, Bharti Airtel, Infosys and M&M are among the gainers, whereas ONGC, ICICI Bank, GAIL, Hindalco Industries, HDFC and Dr. Reddy's Lab are losing sheen on BSE.

The Volatility index - India VIX - has jumped 3 percent at 18.45.

Among sectors, the CNX Bank Nifty, Pharma, Metal, PSU Bank and Finance indices have declined over 0.5 percent each.

On the other hand, the Infra index is up 0.2 percent at 3,158.

In Asian Paints is the top loser in the Nifty-50 stocks - down over 1.5 percent at Rs. 745 after the company reported lower-than-expected Q4 earnings yesterday.

Lupin has dropped 1.5 percent at Rs. 1,706. NMDC, Gail India and ONGC, BPCL and ICICI Bank are the other losers - down over a percent each.

On the other hand, Hero MotoCorp has surged 3.4 percent at Rs. 2,605. Bharti Airtel has jumped 1.5 percent at Rs. 403.

Zee Entertainment, Tata Power, Infosys and Yes Bank have spurted a percent each. 

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