Nifty trade below 11,900-mark; Capital Goods, Banking stocks drag

From the BSE midcap space, DHFL, JSPL, Reliance Power, Adani Power, and Torrent Pharma among top gainers, while the top losers include Reliance Capital, Shriram Transport, Biocon, and Tata Communications.

Jun 12, 2019 09:06 IST India Infoline News Service

Market Down
Equity benchmark extended losses in the afternoon session on Wednesday as selling pressure was seen in HDFC Bank, Kotak Mahindra Bank, and ICICI Bank.

The Sensex was trading 299 points to 39,651 and the Nifty trading 90 points lower at 11,876.

The BSE Capital Goods dropped 1% led by losses seen in L&T, BEL, Havells, BHEL, and Thermax.

Shares of Suzlon fell 3.5%, followed by Finolex Cables, CG Power, ABB India, BHEL, and HEG were down in the range of 2-3%, respectively. However, shares of Sadbhav, Elgi Equipments and Graphite are up in the afternoon trade.

The BSE Bankex was also down by 1% at 34,784 levels. Kotak Mahindra Bank, ICICI Bank, HDFC Bank, SBI, and Yes Bank were the top contributors to the index fall.

Shares of Yes Bank slipped 3.5% on the BSE. The Reserve Bank of India on June 11 stated that it has imposed a fine on two prepaid payment instrument (PPI) issuers Yes Bank and ZipCash Card Services for violating regulatory norms. Meanwhile, Moody's has placed the bank's foreign currency issuer rating of Ba1 under review for a possible downgrade. Moody's has also placed the bank's long-term foreign and local currency bank deposit ratings of Ba1, foreign currency senior unsecured MTN programme rating of (P)Ba1, among other instruments under review.

From the BSE midcap space, DHFL, JSPL, Reliance Power, Adani Power, and Torrent Pharma among top gainers, while the top losers include Reliance Capital, Shriram Transport, Biocon, and Tata Communications.

Eros Media, Manpasand Beverages, Mercator, Igarashi Motors, Kohinoor Foods, Jet Airways, Peninsula Land, Coffee Day Enterprises, HDIL and Aban Offshore among others hit a 52-week low on the BSE.

Related Story