Equity benchmark indices slipped further in late morning trade on Monday led by metal, realty, financial, and media stocks amid weak global cues.
The BSE Sensex
was down 309 points at 35,700, while the Nifty
was down 92 points at 10,702. The market breadth was negative with 522 shares advancing, 1,133 shares declining, and 435 remaining unchanged.
, Bharti Infratel
, Sun Pharma
, and IOCL
were the top gainers on the Nifty50, while GAIL
, IndusInd Bank
, and JSW Steel
were trading in the red.
The Nifty Metal index declined 1% in Monday’s trade after China reported a slowdown in exports in December. China is the world's largest consumer of steel, copper, and aluminum. Jindal Steel
dropped over 3%, followed by SAIL
, JSW Steel
, and Vedanta, which
slipped over 2% each.
From the banking space, Federal Bank
tanked 5% on reports that the bank’s executive director Ganesh Sankaran will step down with effect from February 15, 2019.
Shares of IndusInd Bank
, Axis Bank
, and PNB
fell in the range of 2-1%, respectively.
On the flip side, Yes Bank jumped 4% after the bank announced the appointment of Brahm Dutt as the non-executive part-time chairman of the board.
The Nifty Realty index slipped ~1% led by Prestige
, Oberoi Realty
, and Indiabulls Real Estate
The Nifty Energy index was also slightly down 0.52%. GAIL
was down over 3%, followed by NTPC
, Power Grid
, and Tata Power
The most active stocks were Infosys
, Yes Bank, TCS
, Avenue Supermarts
(DMart), and IndusInd Bank.