Nifty struggles to stay above 9400; Broader market indices underperform

The broader market indices have been underperforming in the market on Tuesday. Bajaj finserv is pulling down the BSE Mid-cap index. The stock is trading lower by close to 4% at Rs 3820 per share. The company has recently posted the financial results for the quarter ended March 31, 2017. The company’s consolidated gross revenue grew by 16% on a YoY basis for Q4 FY17.
 
Federal Bank Limited is the top contributor to the BSE Small-cap index. The stock is trading lower by around 2.5% at Rs 107.85 per share.
 
There were 165 advances, 1421 declines and 363 unchanged stocks on NSE reflecting strong negative undertone in the market.
 
At 11 AM, the S&P BSE Sensex is trading at 30428 down 142 points, while NSE Nifty is trading at 9397 down 41 points. A total of 13 stocks registered a fresh 52-week high in trade today, while 77 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading down 1.7% at 14221, while BSE Small-cap Index is trading down 2.08% at 14741.
 
Some buying activity is seen in Information Technology and Auto while Oil & Gas, Energy, Finance, Telecom are showing weakness on BSE.
 
Maruti, Eicher Motors, Wipro, ICICI Bank and Hindustan Unilever are among the gainers, whereas Sun Pharma, Aurobindo Pharma, Cipla, GAIL, Lupin are losing sheen on NSE in the first trading hour.