Live: Sensex, Nifty Trade Lower After Shaky Start; Cox & Kings Hits Record Low
Market Check: Sensex, Nifty Trade Lower After Shaky Start
Indian equity benchmarks traded lower after fluctuating between gains and losses in the opening trade.
The S&P BSE Sensex fell 0.42 percent or 168 points to 39,519 as of 11 a.m. and the NSE Nifty 50 traded near 11,800, down 0.4 percent. The broader market index represented by the NSE Nifty 500 Index fell 0.3 percent.
Gujarat Gas Falls After Lowering Gas Prices
Shares of Gujarat Gas fell as much as 1.4 percent to Rs 169.30.
The city gas distributor lowers gas prices for industrial and commercial use by Rs 2.5 per standard cubic metre, according to its stock exchange notification.
The stock traded at 20 times its estimated earnings per share for the coming year, Bloomberg data showed.
Adani Green Energy Jumps The Most In Over A Month
Shares of Adani Green Energy rose as much as 14.6 percent, the most since May 20, to Rs 52.15.
The stock has extended gains for the sixth consecutive trading session and is poised for its longest gaining streak since November 2018.
Trading volume was more than 17 times its 20-day average, Bloomberg data showed. The Relative Strength Index on the stock was above 70, indicating that it might be overbought.
Block Deal Alert: Yes Bank
About 12.5 lakh shares of Yes Bank changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Nifty Realty Index Worst Sectoral Performer
All the 11 sectoral gauges compiled by National Stock Exchange traded lower, led by the NSE Nifty Realty Index’s 1.8 percent fall.
TCG's Top Picks In Chemical Sector
UPL and SRF are among our favourite picks in the chemical sectors and they are likely to benefit from the Government policies, TCG Asset Management’s Managing Director Chakri Lokapriya told BloombergQuint in an interaction.
Watch the full conversation here: