Market Commentary - Mid-Session
The key equity barometers traded with marginal losses in early trade. Nifty opened at 23883 and hit a high of 23890 in first half hour of trade. Nifty Media, Nifty IT and Nifty Metal shares declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, moved lower by 175.89 points or 0.23% to 76,339.54. The Nifty 50 index edged lower by 59.45 points or 0.25% to 23,838.25.
The broader market outpaced the frontline indices. The BSE 150 MidCap Index inched down 0.27% and the BSE 250 SmallCap Index posted modest gains of 0.08%.
The market breadth was fragile. On the BSE, 1983 shares rose and 2027 shares declined. A total of 317 shares were unchanged.
Nifty Media index shed 2.83%. The index has slipped by 2.19% in last one month and posted modest losses of 2.83% over last one year. PVR Inox, moving lower 7.49%, led the losers followed by Zee Entertainmen, losing 4.08% and Netwrk.18 Media, down 1.94%, respectively. Out of 10 index constituents, 8 are reporting loss today.
Nifty IT index retreated 1.54%. The index has edged lower 2.41% in last one month and fell 12.66% over last one year. Infosys, easing 2.15%, led the losers followed by Mphasis, slipping 1.86% and Oracle Fin.Serv., edging lower 1.75%, respectively. All 10 index constituents are reporting losses today.
Nifty Metal index lost 0.91%. The index has posted modest gains of 2.19% in last one month and soared 38.49% over last one year. S A I L, easing 3.17%, led the losers followed by Natl. Aluminium, edging lower 1.79% and Jindal Steel, edging lower 1.66%, respectively. Out of 15 index constituents, 14 are reporting loss today.
In NIFTY500, Zydus Wellness is the top gainer today, jumping 8.61% to Rs 575.45. The counter is marginally up 9.68% in last one year. It recorded an average volume quantity of 15507.50 in last five sessions compared to 22404 over last one month.
Asian markets were marginally higher on Monday. China’s Shanghai composite is modestly lower by 0.24%, Hong Kong’s Hang Seng is trading lower by 1.11%. Japan’s Nikkei 225 is firmly higher by 1.91%.