Midday report: Sensex falls 144 points, Nifty down 36 points

Indian equity benchmarks were trading lower in Tuesday’s afternoon session. Market sentiments were dampened when World Bank in its latest report said that India needs to invest $840 billion over the next 15 years to upgrade its urban infrastructure to effectively meet the requirements of its fast-growing population in cities. The downfall remain limited when Defence Minister Rajnath Singh said inflation in India is comparatively lower than that in the US, the UK, and other countries.

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The Sensex was trading at 61,480.08 down by 144.07 points or 0.23% after trading in a high-low range of 61,783.00 and 61,436.90. On the index, only 11 stocks were advancing and 19 were declining.

The broader indices were trading mostly red with the BSE Midcap index down by 0.10% and the Small-cap index down by 0.07%.

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The top losing sectoral indices on the BSE were Metal down 1.06%, Realty 0.83%, Capital Goods 0.67%, Energy 0.58%, and IT 0.58%. While Services up by 0.64%, Auto 0.55%, Consumer Durables 0.47%, Telecommunication 0.35%, and Oil & Gas 0.31% were the top gaining sectoral index on the BSE.

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The top losers on the Sensex were ITC down by 1.48%, Tata Steel 1.06%, Bajaj Finserv 1.01%, Larsen & Toubro 0.95%, and Kotak Mahindra Bank 0.94%. Ultratech Cement up by 1.99%,  ICICI Bank 1.35%, Titan Company 1.19%, NTPC 1.11%, and  Dr. Reddy’s Lab 1.04% were the top gainers on the index.

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The Nifty was trading at 18,293.00 down by 36.15 points or 0.20% after trading in a high-low range of 18,378.15 and 18,282.00. On the index, only 19 stocks were advancing, against 30 stocks declining, and 1 stable.

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The top losers on Nifty were Grasim Industries down 1.49%,  ITC 1.47%, Tata Steel 1.15%, HDFC Life Insurance 1.05 and Larsen & Toubro 1.02%. While ONGC up 2.55%, Hero MotoCorp 2.26%, Ultratech Cement 2.02%, Adani Ports & SEZ 1.83%, and Titan Company 1.35% were the top gainers on the index.

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Asian markets were trading higher, Nikkei 225 rose 0.10%, Shanghai Composite rose 1.53%, KOSPI Composite rose 0.23%, and Hang Seng advanced 3.71%.