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Sensex Trades Weak Again; NMDC Slumps 4%


Benchmark indices opened the day weak once again in trade led by sustained selling in blue chip stocks.

The Sensex was trading with losses of 90 points, while the Nifty dipped 33 points in trade.

Sensex Trades Weak Again; NMDC Slumps 4%
IT major TCS continue to lose ground dropping another one per cent in trade following a weakish set of results reported last week. Other IT stocks also dropped in line with HCL Tech, Infosys and Wipro among the losers.

PSU Banking stocks managed to hold ground and were resilient once again in trade. PNB, State bank of India and Bank of Baroda were all trading with gains.

Select private sector banking stocks saw some losses with IndusInd Bank, Axis Bank and Kotak Mahindra among the losers.

Reliance Industries which reported a super set of results was trading marginally lower on profit booking. NMDC Dropped as much as 3 per cent after the company reduced the price of iron ore lumps.

Shares in Clariant chemicals rose 9 per cent after the company said that it would consider a buy-back proposal.

Shares in Glenmark Pharma rose after reports that the company will raise Rs 945 crore via share sale to Aranda Investments.

Meanwhile, markets across Asia were trading mostly lower, though the Chinese Shanghai Composite and the Hang Sang rebounded into the green territory after early losses.

Read more about: sensex nifty
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