Market update: Nifty falls below 10k mark, Sensex also steps in the red zone
The Indian indices erased the gains collected in early trade and are now riding low with Nifty below 10,000 level. At 12.19 IST, Sensex was trading low by 314 points or 1 percent at 33,795. Whereas Nifty was down at 9,969, a percent decline.
Take a look at what has happened in the market till now:
- Indian rupee wiped out early losses, but is still trading lower at 75.49 against US dollar.
- Nifty Pharma gained 1 percent and is led by Sun Pharma, Biocon, Lupin, Torrent pharma, and Aurobindo Pharma.
- Currently, Tech Mahindra is the top gainer on the NSE. At 12.29 IST, the company traded at 576.9, up 4 percent.
- Bajaj Finance which became the top gainer early in the week is trading on the red side in the current session. At 12.31 IST, the firm’s shares faced a low by 5 percent at 2,286.
- After six positive sessions the indices face a steep drop mostly led by financials such as Axis Bank, IndusInd Bank, Bajaj Finserv, and Bajaj Finance.
- Among the sectoral indices, currently almost all are trading lower on the red side. Although, Nifty IT, PSU Bank, Pharma, and Energy are trading on green level with gaining 1 percent each.
- Kotak Mahindra and HDFC see a drop by 3 percent each.
- IOC and zee entertainment which were also among the gainers earlier in the week are trading lower in the day’s trading session.
- The shares of Reliance on the NSE have gained 2 percent after the company sold its rights issue in the previous session. At 12.46 IST, the company’s shares increased by 33 points at 1,574.
- Nifty Bank dropped by 514,7 points or 2.4 percent at 20,426, at 12.48 IST.
Note: As the stock market is still in session, the stocks are varying every minute. Stay tuned for today’s highlights after the closing bell.