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MARKET LIVE: Sensex off day's low, down 200pts; ITC, banks up; IT stks down

Stock market live updates: The broader markets were outperforming the benchmark indices. Both, the BSE Midcap and Smallcap indices were up over 0.5 per cent each.

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MARKET LIVE | Markets | Nifty

SI Reporter  | New Delhi 

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Experts said the FM’s decision to go for asset monetisation, instead of an increase in taxation, helped soothe investors’ nerves | Photo: PTI
Stock market live updates: The key benchmark indices continued to languish in the negative zone on the back of persistent selling pressure in IT shares and select index heavyweights - Reliance Industries, Larsen & Toubro and Hindustan Unilever.
The Sensex was down 350-odd points around 59,090-odd levels, and the NSE Nifty was testing support around the 17,700-level.

Among the Sensex 30 shares, HCL Technologies and Infosys shed 2.5 per cent each, Wipro too was down 2 per cent. Larsen & Toubro, PowerGrid Corporation, Titan, Asian Paints and HDFC Bank were the other prominent losers. 

On the positive front, ITC surged nearly 2 per cent to Rs 273. ICICI Bank and Kotak Bank were the other notable gainers. 

The broader markets was outperforming the benchmark indices by a wide margin. Both, the BSE Midcap and Smallcap indices were up 0.5 per cent and 0.6 per cent, respectively. The overall breadth too was fairly positive, with more than 2,132 stocks advancing versus 1,317 declining shares on the BSE.

Sectorally, the BSE IT index dropped 1.5 per cent, and the Consumer Durables was the other notable loser. Whereas, the BSE Power index soared 2.6 per cent. The Oil & Gas and Energy indices were up 1.6 per cent and 0.8 per cent, respectively. 

Among stocks, Ruchi Soya rose over 7 per cent after its board approved evaluating modes to enhance synergies with Patanjali Ayurved Ltd's food portfolio on an arm’s length basis. Further, the board gave its nod to change the company's name to Patanjali Foods Ltd. 

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