Nifty below 10,900 mark; Axis Bank, Infosys stocks down

The market breadth was narrow with 765 shares advancing, 725 shares declining, and 537 remaining unchanged.

Feb 12, 2019 04:02 IST India Infoline News Service

Bombay Stock Exchange Building
Equity benchmark indices opened marginally lower, tracking its Asian peers. The Indian rupee extended gains for the sixth day against the US dollar at 71.18 against the greenback.

Axis Bank shares down 1% after the government announced it would sell part of its stake in the private sector lender held through SUUTI to raise up to Rs5,316cr.

The Sensex is up 6 points at 36,401, while the Nifty is down mere two points at 10,887. The market breadth was narrow with 765 shares advancing, 725 shares declining, and 537 remaining unchanged.

Shares of Eicher Motors erased morning losses to trade flat on the NSE. The company reported a 2.4% increase in consolidated profit after tax at Rs532.95cr in the third quarter ended December 31, 2018.

In the broader markets, BSE MidCap index was trading 56 points higher at 14,173, while BSE SmallCap index was ruling at 13,456, up 5 points.

Indiabulls HF, Power Grid, NTPC, Zee, and ONGC are trading higher on the NSE, while, Infosys, Hero MotoCorp, Eicher, and TCS are trading lower.

Volatility index India VIX was up 2.98% to 16.03.

The most active stocks were Axis Bank, Reliance Industries, Infosys, Eicher Motors, and TCS.

Asian stocks remain largely unchanged this morning and the dollar held firm after recent strong gains while oil edged up slightly after falling on Monday.

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