Stock market midday report: Sensex declines over 700 points, Nifty around 17,500
- Sensex is now trading at 58913.47, down 722.54 points or 1.21%
- Nifty is presently trading at 17558.10, down 206.70 points or 1.16%
- Asian markets were trading mostly in green
Despite bullish signs from other Asian markets, bears had a firm grip on Dalal Street in the late morning session, with both the Sensex and the Nifty trading in the red.
Asian markets were trading mostly in green. The KOSPI increased 36.49 points or 1.23% to 3,007.51, the Nikkei 225 increased 25.02 points or 0.08% to 29,770.89, the Shanghai Composite increased 23.00 points or 0.65% to 3,583.37, the Taiwan Weighted increased 14.92 points or 0.08% to 17,833.23, and the Straits Times increased 7.92 points or 0.25% to 3,240.26. On the other hand, the Jakarta Composite was down 27.99 points or 0.42% to 6,692.27, while the Hang Seng fell 87.86 points or 0.35% to 24,962.11.
The BSE Sensex is now trading at 58913.47, down 722.54 points or 1.21% after fluctuating between 58884.71 and 59778.37. On the index, there were four stocks that advanced and 26 stocks that declined.
The wider indexes were trading in the negative, with the BSE Midcap index down 1.70% and the Small-cap index down 1.89%.
The only rising sectoral indices on the BSE were Telecom, up 3.20%, and TECK, up 0.28%, while the top losing indices on the BSE were Energy, down 3.13%, Realty, down 2.79%, Consumer Durables, down 2.48%, Auto, down 2.24%, and Oil & Gas, down 2.03%.
Bharti Airtel gained 4.31%, Asian Paints gained 1.89%, Power Grid gained 1.07%, and TCS gained 0.97% on the Sensex. On the other hand, the biggest losers are Bajaj Finance, which is down 4.52%, Reliance Industries, which is down 3.57%, SBI, which is down 3.23%, Bajaj Finserv, which is down 3.17%, and Titan Co, which is down 2.57%.
The CNX Nifty is presently trading at 17558.10, down 206.70 points or 1.16% from a high of 17805.25 and a low of 17549.15. On the index, there were 10 stocks that advanced and 40 stocks that declined.
Bharti Airtel gained 4.28%, Asian Paints gained 1.94%, TCS gained 0.96%, Power Grid gained 0.94%, and Hindalco gained 0.90% on the Nifty. On the other hand, the biggest losers were Bajaj Finance (down 4.48%), Reliance Industries (down 3.64%), Tata Motors (down 3.41%), ONGC (down 3.24%), and SBI (down 3.22%).