Mid-Session: Sensex, Nifty stay under stress as US Fed hikes rate; Alembic Pharma jumps 8%
14/06/2018 12:35
The Indian equities stayed under selling stress in afternoon deals on Thursday, tracking weak cues from Asian peers, as market sentiment were dented by interest hike by the US Federal Reserve and looming concerns about US-China trade frictions. In line with the benchmark indices, the broader markets were trading lower, with MidCap and SmlCap indices falling as much as 0.58 per cent and 0.29 per cent, respectively. Shares of Alembic Pharmaceuticals jumped over 8 per cent on the BSE after drug maker said it has received US drug regulator’s approval Doxycycline Hyclate capsules USP, 50 mg and 100 mg.

At 12:15 hours, the 30-share benchmark index was trading at 35508.04, down by 231.12 points or by 0.65 per cent, and the NSE Nifty was at 10782.1, down by 74.6 points or by 0.69 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 35749.88 and intraday low of 35492.74, while the NSE Nifty touched intraday high of 10833.7 and intraday low of 10773.55.

On the sectoral front, PSU and IT stocks emerged as top losers on BSE, falling as much as 1.47 per cent and 1.46 per cent, respectively.

The top losers of the BSE Sensex pack were Infosys Ltd. (Rs. 1242.00,-2.67%), State Bank of India (Rs. 282.25,-1.88%), Tata Consultancy Services Ltd. (Rs. 1794.30,-1.64%), Coal India Ltd. (Rs. 279.25,-1.64%), ICICI Bank Ltd. (Rs. 286.05,-1.63%), among others.

On the flip side, Sun Pharmaceutical Industries Ltd. (Rs. 556.80,+2.04%), Dr. Reddy's Laboratories Ltd. (Rs. 2262.25,+0.46%), HDFC Bank Ltd. (Rs. 2040.05,+0.24%), YES Bank Ltd. (Rs. 333.80,+0.21%), Bharti Airtel Ltd. (Rs. 376.55,+0.12%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2549, shares advanced were 904, while 1509 shares declined and 136 were unchanged.