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Market LIVE: Sensex slips 250pts, Nifty tests 18K; Broader markets outshine

Stock market live updates: The broader markets were outperforming the benchmark indices, with strong gains of 0.8 per cent and 1.3 per cent for the BSE Midcap and Smallcap indices, respectively.

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MARKET LIVE | Markets | Nifty

SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Expectations that Asia’s third-largest economy won’t take as big of a hit as last year
Stock market live updates:  The key benchmark indices were back in red in late deals after briefly erasing the day's losses earlier. The BSE Sensex was down 250 points to 60,360, and the NSE Nifty was hovering around 18,000. 

Among the Sensex 30 shares, ITC surged 2.5 per cent. TCS, Titan, Axis Bank, Nestle India and Hindustan Unilever were the other prominent gainers. On the flip side, HDFC and Bajaj twins alongwith Reliance Industries were the underperformers.
 
The broader markets had also extended gains. The BSE Midcap index rallied 1.3 per cent, while the Smallcap index jumped 1.6 per cent. The overall breadth too was fairly positive with over 2,400 stocks advancing, versus 900 declining stocks on the BSE so far.

Sectorally, the BSE Consumer Durables, FMCG, Auto and Power indices were up 1.5 -2 per cent each. The Bankex too wiped out losses.
 
Among other individual stocks, SBI Cards shed 4 per cent on the BSE. As per reports, private equity firm Carlyle Group will sell its entire stake in the company for as much as Rs 2,558 crore.

Moreover, Zomato, too, dropped 5 per cent after the Competition Commission on Monday ordered a detailed probe against Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners.

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