Live: Sensex, Nifty Decline; Adani Transmission Drops 17% In Three Days
Opening Bell: Sensex, Nifty Open Lower
Indian equities opened lower, extending declines for the fourth consecutive trading session.
The S&P BSE Sensex fell as much as 0.98 percent or 393 points to 39,888 and the NSE Nifty 50 fell as much as 1 percent to 11,679. The broader markets represented by the NSE Nifty 500 Index fell as much as 0.88 percent.
The market breadth was tilted in favour of sellers. About 1,044 stocks declined and 429 shares advanced on National Stock Exchange.
All the sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Auto Index’s 0.9 percent fall.
Large Trade Alert: Bharti Infratel
About 13.33 lakh shares of Bharti Infratel changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Adani Transmission Drops 17% In Three Trading Sessions
Shares of Adani Transmission extended declines for the third consecutive trading session. The stock fell as much as 6.9 percent to Rs 268.80.
The scrip slumped 17 percent in three trading sessions. The Relative Strength Index was below 30, indicating that the stock may be oversold, according to Bloomberg data.
Lemon Tree Hotels Extends Declines For Second Consecutive Trading Session
Shares of Lemon Tree Hotels extended declines for the second consecutive trading session. The stock fell as much as 8.6 percent to Rs 53.60.
The scrip is set for its worst two-day fall in 10 months. Lemon Tree Hotels traded at 93 times its estimated earnings per share for the coming year, according to Bloomberg data.
Large Trade Alert: Nippon Life, Sadbhav Engineering
- Nippon Life: Abut 17 lakh shares of the company changed hands in a large trade.
- Sadbhav Engineering: About 58 lakh shares or 3.4 percent equity changed hands in a large trade.
Buyers and sellers were not known immediately.
Source: Bloomberg
F&O Check: Nifty 11,700 Put Option Premium Jumps 49%
Nifty’s 11,700 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the contract, which is set to expire on Feb. 27, rose 48.57 percent to Rs 36.25. About 11.66 lakh shares were added to the open interest which stood at over 38.81 lakh shares.