Nifty below 11,750-mark; Sensex down 100 pts

The Sensex slipped 74 points at 39,201 levels and the Nifty dropped 39 points to trade at 11,748 levels, below its key level of 11,750.

Apr 18, 2019 05:04 IST India Infoline News Service

Stock Market Chart
Equity benchmark indices erased its early morning gains and traded in the red on Thursday to give a company to its Asian peers as investors turned cautious ahead of Q4FY19 performance numbers of the heavy weights companies.

The Sensex slipped 74 points at 39,201 levels and the Nifty dropped 39 points to trade at 11,748 levels, below its key level of 11,750.

Reliance Industries, RBL Bank, DCB Bank, ICICI Lombard General Insurance Company, Tata Sponge Iron are going to release their resepetive results today.

Among stocks, Reliance Industries (RIL), Tata Motors, Wipro, Tech Mahindra and HCL Tech were the top gainers on the NSE. Conversely, Bharti Airtel, Indiabulls Housing Finance, Yes Bank, Infratel, and Vedanta lost the most.

All sectoral indices on the NSE were trading in the red with Nifty Realty and Metal indices declining ~3% and 2% respectively. Metal stocks declined amid fear of lower demand after Vale allowed restarting Brazil mine.

Surprisingly, shares of Reliance Industries (RIL) were trading 2% high on BSE ahead of its Q4FY19 earnings. Further, shares of Wipro gained 1% after its board approved a proposal to buyback up to 32.30 lakh shares of the company for an aggregate amount not exceeding Rs10,500cr, being 5.35% of the total paid-up equity share capital at a price of Rs325/equity shares.

Market breadth was negative on the NSE with 425 shares advancing, 1,218 shares declining, and 444 remaining unchanged.

Notably, volatility measuring index, India VIX gained 5.62% at 22.91 points.

Interestingly, Infosys, SBI, HDFC, Bharti Airtel, ITC, and L&T were the contributors for the fall in the BSE.

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