Mid-Session: Sensex slips in red; Nifty below 8,300 Analysis for Oct 26, 2015

Posted By: Religare
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The Indian equities slipped in negative terrain, paring its early gains, as Reliance Industries, HDFC Bank and ITC dragged market in noon trade, tracking a muted trend in fellow Asian peers. Domestic investors resorted to profit booking in blue-chips of realty, oil & gas, metal, bank, healthcare and teck sectors. The market witnessed volatility as traders avoided taking aggressive bets considering Bihar elections and F&O expiry approaching closer.

At 12:15 hours, the BSE SENSEX was trading at 27434.06, down by 36.75 points or by 0.13 per cent, and the NSE Nifty was quoting 16.65 points lower at 8278.8.

During the day"s trade so far, the BSE Sensex touched an intraday high of 27618.14 and intraday low of 27420.56, while the NSE Nifty touched high and low of 8336.3 and 8272.05, respectively.

On the sectoral front, oil&gas and metal stocks were leading the decline, falling as much as 0.75 per cent and 0.66 per cent, respectively.

Leading the decline on the D-Street were Bharti Airtel Ltd. (Rs. 351.55,-2.01%), Coal India Ltd. (Rs. 335.55,-1.71%), Lupin Ltd. (Rs. 2052.00,-1.32%), Reliance Industries Ltd. (Rs. 945.00,-1.14%), ICICI Bank Ltd. (Rs. 284.50,-0.58%), among others.

However, some buying were witnessed in blue chip stocks, such as Bharat Heavy Electricals Ltd. (Rs. 215.90,+2.93%), Bajaj Auto Ltd. (Rs. 2560.00,+1.84%), Maruti Suzuki India Ltd. (Rs. 4442.00,+1.38%), Hero MotoCorp Ltd. (Rs. 2626.95,+1.23%), Vedanta Ltd. (Rs. 103.40,+1.12%), among others.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2580, shares advanced were 922 while 1537 shares declined and 121 were unchanged.

Among the global peers, Asian stocks were trading mix, with China"s Shanghai Composite and Hang Seng slipped in negative terrain, while Japan"s Nikkei 225 continued to hold its early gains.

Story first published: Monday, October 26, 2015, 12:48 [IST]
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