Market Commentary - Mid-Session
The key equity barometers traded with marginal losses in morning trades. Nifty moved in a range of 22787-22407. Nifty Metal, Nifty Consumer Durables and Nifty Chemicals shares declined, while Nifty IT shares advanced.
At 10:45 IST, the barometer index, the S&P BSE Sensex, posted modest losses of 524.41 points or 0.72% to 72,724.98. The Nifty 50 index shed 215.25 points or 0.95% to 22,472.40.
The broader market outpaced the frontline indices. The BSE 150 MidCap Index recorded sharp losses of 2.66% and the BSE 250 SmallCap Index posted steep losses of 3.42%.
The market breadth was unfavorable. On the BSE, 725 shares rose and 3975 shares retreated. A total of 213 shares were unchanged.
Nifty Metal index tanked 3.19%. The index has retreated 9.18% in last one month and spiked 15.20% over last one year. Vedanta Aluminium Metal, slipping 5%, led the losers followed by Natl. Aluminium, easing 4.61% and S A I L, edging lower 3.95%, respectively. All 15 index constituents are reporting losses today.
Nifty Consumer Durables index fell 2.83%. The index has shed 8.23% in last one month and shed 10.73% over last one year. Havells India, down 4.28%, led the losers followed by Thangamayil Jew., losing 4.20% and PG Electroplast, edging lower 3.74%, respectively. All 14 index constituents are reporting losses today.
Nifty IT index posted modest gains of 0.03% to 32091. The index has jumped 12.24% in last one month and retreated 11.08% over last one year. TCS, adding 2.21%, led the gainers followed by Infosys, edging up 0.99% and Wipro, inching higher 0.97%, respectively. Out of 10 index constituents, 6 are reporting gains today.
Out of 14 sectoral indices on NSE, 13 are in red today. Nifty IT index has surged 12.24% in last one month and is sharply lower by 11.08% over last year. Nifty Metal index has slumped 9.18% in last one month and has soared 15.20% over last one year.
From NIFTY50 index, Vodafone Idea, Yes Bank AND Tata Tele. Mah. are leading in terms of volumes today, clocking turnover of 1623.06 lakh shares, 1217.85 lakh shares and 1868.11 lakh shares respectively.
Asian markets edged lower on Friday. China’s Shanghai composite is modestly lower by 0.38%, Hong Kong’s Hang Seng is ahead by 0.73%. Japan’s Nikkei 225 is trading lower by 0.70%.
NIFTY50 Oct-26 futures are in discount of 70.10 points today.