Midday report: Sensex falls 87 points, Nifty down 31 points

Indian equity benchmarks were trading higher in Thursday’s afternoon session. Traders were cautious when Fitch Ratings said that India’s external finances are getting weaker but continue to be sufficient to avoid risks emerging from abroad. 

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The Sensex was trading at 59,062.63, down by 44.56 points or 0.08% after trading in a range of 58,791.28 and 59,123.58. On the index, only 15 stocks were advancing, 14 were declining and 1  stock was stable.

The broader indices were mostly trading in red with the BSE Midcap index down by 0.87% and the Small-cap index up by 0.24%.

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The top gaining sectoral indices on the BSE were TECK up by 0.99%, IT up by 0.95%, Oil & Gas up by 0.62%, Energy up by 0.45%, Telecommunication up by 0.43%, while Consumer Durables down by 1.17%, Bankex down by 0.95%, Auto down by 0.93%, Realty down by 0.82%, Financial Services down by 0.77% were the top losing sectoral indices on the BSE.

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The top gainers on the Sensex were HCL Technologies by 1.87%, Tech Mahindra by 1.75%, Infosys by 1.08%, Nestle by 1.02% and Wipro by 0.94%. On the flip side, IndusInd Bank by 4.79%,  Axis Bank by 1.72%, Ultratech Cement by 1.58%, Axis Bank by 1.22%, and Titan Company by 1.08%, were the top losers on the index.

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The Nifty was trading at 17,506.70 down by 5.55 points or 0.03% after trading in a range of 17,421.00 and 17,524.65. On the index, 26 stocks were advancing, against 23 stocks declining, while 1 stock was stable.

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The top gainers on Nifty were UPL up by 2.85%,  HCL Technologies up by 1.82%, Tech Mahindra up by 1.73%, Nestle up by 1.18% and ONGC Limited up by 1.13%. While IndusInd Bank by 4.84%,  Apollo Hospital Ent. by 1.98%,  Ultratech Cement by 1.60%, Axis Bank by 1.24 and Titan Company by 1.04% were the top losers on the index.

Asian markets were trading mostly lower, KOSPI Composite fell 0.86%, Shanghai Composite fell 0.27%, Nikkei 225 fell 0.92%, and Hang Sangfell 1.85%.