Sensex, Nifty Pare Losses As Capital Goods, Industrials Gain: Midday Market Update
Sensex was trading 0.12% lower at 61,869.90 as of 12:30 p.m. Nifty 50 declined 0.15% at 18,381.65.
India's stock market benchmarks pared losses as capital goods and industrials stocks gained. However, the decline in consumer durables, auto, and metal stocks kept the overall index in negative territory.
The Sensex was trading 0.12% lower at 61,869.90 on the BSE, while the Nifty 50 eased 0.15% to 18,381.65 on the NSE. Both the indices earlier eased to lows of 61,768.96 and 18,350.30, respectively.
Among Nifty 50 constituents, 17 stocks rose and 33 declined.
Larsen & Toubro Ltd., Tata Consumer Products Ltd., HDFC Life Insurance Co., UPL Ltd., and ICICI Bank Ltd. were the top gainers, while Titan Co., Tata Motors Ltd., Apollo Hospitals Enterprise Ltd., Hindalco Industries Ltd. and Eicher Motors Ltd. were the top laggards on the Nifty 50.
The broader indices underperformed their larger peers, with the mid-cap and small-cap gauges losing 0.23% and 0.21%, respectively.
Thirteen out of the 19 sectoral measures complied by BSE Ltd. declined, with BSE consumer durables losing the most to over 1%
The market breadth is skewed in favour of the bears. About 1,478 stocks rose, 1,884 fell and 130 remained unchanged.