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Nifty declines further. SBI, BHEL down

After a brief start in the green, the markets continue to trade in the red. After registering a low of 18,463 in the morning trades, the Sensex has managed to erase some of its losses and is at 18,500, up 37 points from day’s low.

At 11:46 AM, the Nifty is down by 32 pts at 5542.

On the other hand, the broader markets continue to hold on to its gains from the morning trades. The smallcap index is up 0.4% and the midcap index added 0.3% as compared to the Sensex which is down 0.07%.

Among the sectoral indices, Consumer Durables up 1% continues to lead the gains followed by FMCG, IT and Health care up 0.3-0.5%. Meanwhile, rate sensitives like Bankex, Realty and Auto indices continue to trade in the negative.

Bankex down 0.7% is the major dragger followed by capital goods and Power down 0.4% each. The draggers in the banking space are SBI, Punjab National Bank, Axis Bank,Canara Bank and Yes Bank down 1% each.

The top Sensex gainers are Reliance Communications up 2%, DLF, Tata Power and Tata Steel gaining 1% each.

BHEL, Hindalco and SBI down 2% each continues to be the top loser followed by Jaiprakash Associates, Hero Honda and Tata Motors down 1% each.



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