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Sensex, Nifty continue to fall; Midcap breaks 200-DMA, SPARC up
Benchmark indices extended losses in morning trade with the Sensex falling nearly 200 points, weighed by banking & financials, technology, infra and oil stocks.
The broader markets underperformed benchmarks with the BSE Midcap and Smallcap indices losing 0.9 percent and 0.8 percent, respectively on weak breadth. About three shares declined for every share rising on the exchange.
The 30-share BSE Sensex was down 180.65 points at 26061.73 and the 50-share NSE Nifty fell 58.25 points to 8003.05.
HDFC, HDFC Bank, L&T, TCS and Axis Bank were top five contributors to Sensex’s fall, down 0.5-1.7 percent followed by SBI, Adani Ports, ICICI Bank and Maruti.
However, Hindustan Unilever, Sun Pharma, Hero Motocorp, Tata Motors and Bajaj Auto bucked the trend.
Indian ADRs: Tata Motors, Infosys, HDFC Bank gain :
Indian ADRs ended mostly higher on Wednesday.
In the banking space,
ICICI Bank was up 0.13 percent at USD 7.49 and HDFC Bank gained 0.28 percent at USD 60.59.
In the IT space,
Infosys gained 0.27 percent at USD 14.97 and Wipro shed 0.42 percent at USD 9.58.
In the other sectors,
Tata Motors rose 0.61 percent at USD 34.76 and Dr Reddy’s Laboratories declined 0.66 percent at USD 44.83.