Nifty slips below 11,600 mark; IndusInd Bank, Bajaj Finance stocks under pressure

Tata Steel, Vedanta, and Sun Pharma are among the major gainers on the indices, while Wipro, Bajaj Finance, and IndusInd Bank are the main losers.

Jul 12, 2019 09:07 IST India Infoline News Service

Stock market crash
Equity benchmark indices slipped in the last hour of trading, with the Sensex down 110 points at 38,713, while the Nifty slipped 36 points to trade at 11,546 levels.

Tata Steel, Vedanta, and Sun Pharma are among the major gainers on the indices, while Wipro, Bajaj Finance, and IndusInd Bank are the main losers.

The Volatility gauge, India VIX, was down 3.62% at 12.01.

The most active stocks on the NSE are IndusInd Bank, PFC and Reliance.

The Nifty Metal and the Realty index are up over 1% each. Jindal Steel & Power, Tata Steel, Hindalco Industries, NALCO, SAIL, NMDC, and JSW Steel are the top gainers among metal stocks.

Shares of IndusInd Bank are trading lower by 2% after reporting a healthy set of Q1 numbers. The Bank’s Q1FY20 NII has improved by 34% yoy to Rs2,844cr against Rs2,122cr in the same quarter last year. The net profit was in line with consensus estimates, indicating a rise of 38.3% yoy to Rs1,432cr against Rs1,036cr yoy.

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