Stock market midday report: Sensex down 675 points, Nifty around 16,390
- Sensex is now trading at 55,000.10, down 675.22 points or 1.21%
- Nifty is presently trading at 16,393.40, down 176.15 points or 1.06%
- Asian markets were trading mixed on Tuesday
Indian equity indices were flat in the midday session, ahead of the country's central bank's probable repo rate announcement, as global investors monitored U.S. inflation data and important rate decisions in Europe. The RBI's Monetary Policy Committee is likely to raise benchmark interest rates again in order to contain inflation, which is still beyond the central bank's upper tolerance range.
Asian markets were trading mixed with KOSPI falling 44.31 points or 1.66% to 2,626.34, Straits Times trembled 6.44 points or 0.2% to 3,220.19, Hang Seng decreased 144.46 points or 0.67% to 21,509.44 and Taiwan Weighted was down by 93.08 points or 0.56% to 16,512.88.
On the flip side, Jakarta Composite soared 33.64 points or 0.47% to 7,130.22, Nikkei 225 surged 28.06 points or 0.1% to 27,943.95 and Shanghai Composite was up by 3.05 points or 0.09% to 3,239.42.
The Sensex is now trading at 55,000.10, down 675.22 points or 1.21% after moving in a range of 54,882.41 and 55,387.77. On the index, there were two stocks that advanced, 27 that declined, and one that stayed unchanged.
The broader indices were trading in red with the BSE Mid cap index losing 1.06%, while the Small cap index was down by 0.72%. The gaining sectoral indices on the BSE were Oil & Gas up by 1.37%, Energy up by 1.12%, Utilities up by 0.95%, Power up by 0.78% and PSU was up by 0.42%, while Consumer Durables down by 3.10%, Realty down by 1.93%, Capital Goods down by 1.70%, FMCG down by 1.70% and Basic Materials was down by 1.49% were the top losing indices on BSE.
The only gainers on the Sensex were NTPC up by 0.29% and Maruti Suzuki up by 0.23%. On the flip side, Titan Company was down by 4.94%, Hindustan Unilever down by 3.03%, Dr Reddy's Lab was down by 2.90%, Larsen & Toubro down by 2.87% and Bajaj Finance was down by 2.78% were the top losers.
The Nifty is presently trading at 16,393.40, down 176.15 points or 1.06% from a low of 16,347.10 and a high of 16,487.25. On the index, there were 8 stocks that advanced, 41 stocks that declined, and 1 stock that stayed constant.
The top gainers on Nifty were ONGC up by 5.42%, Coal India up by 1.59%, BPCL up by 0.66%, Bajaj Auto up by 0.65% and Divi's Lab was up by 0.30%. On the flip side, Titan Co was down by 4.86%, Dr Reddy's Lab down by 3.04%, UPL down by 3.02%, Hindustan Unilever down by 2.88% and Larsen & Toubro was down by 2.69% were the top losers.