Latest Market News From CapitalHeight :
Benchmark equity indices extended losses tracking weakness in global stocks as the trade conflict between the US and China intensified. The most actively traded stocks on the NSE were ICICI Bank, Dr. Reddy's Labs, Tata Steel, TCS and HDFC Bank. The Shanghai Composite Index fell 3% and dropped to its lowest level since July 2016, while Hong Kong's Hang Seng shed more than 2%.
On the global front, China's Shanghai Composite dropped 3% and Hong Kong's Hang Seng fell 2%, while Dow Jones futures also shed around 300 points, indicating weak opening on the Wall Street.
At 2:17 PM, BSE Sensex was at 35,338 down 210 points, while NSE Nifty was at 10,720, down 79 points.
BSE Midcap Index is trading lower 1.10%, while BSE Smallcap Index is trading down 1.28%.
On the sectoral front, IT stocks are trading weak with Infosys down close to 2% followed by HCL Technologies, Mindtree, Oracle Financial Services and Wipro.
Metal stocks are trading weak and fell 1.6% with Hindustan Copper, Hindalco Industries, Jindal Steel & Power, SAIL, NMDC and Vedanta being the top losers.
Bank Nifty was also weak in the afternoon trade with State Bank of India down 2%, while Federal Bank, ICICI Bank, IDFC Bank, Punjab National Bank and RBL Bank were the other losers.
GAIL (+1.2%), Bajaj Fin (+1.2%), Bharti Airtel (+0.71%), ONGC (+0.64%) and HDFC Bank (+0.50%) were the top gainers on NSE.
Vedanta (-3.7%), IOC (-2.8%), HPCL (-2.8%), BPCL (-2.80%), and HPCL (-2.5%) were the top losers on NSE.
Out of 2,056 stocks traded on the NSE, 1,329 declined, 351 advanced and 376 remained unchanged today.
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