Sensex, Nifty extend losses; GAIL, L&T under pressure

The BSE Sensex dropped over 300 points amid weakness in Asian peers.

Jan 14, 2019 06:01 IST India Infoline News Service

Stock market sensex nifty
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.

Yes Bank, Infosys, Bharti Infratel, Sun Pharma, and IOCL were the top gainers on the Nifty50, while GAIL, L&T, IndusInd Bank, Wipro, 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, Nalco, 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, Brigade, Oberoi Realty, DLF, and Indiabulls Real Estate.

The Nifty Energy index was also slightly down 0.52%. GAIL was down over 3%, followed by NTPC, Power Grid, ONGC, and Tata Power.

The most active stocks were Infosys, Yes Bank, TCS, Avenue Supermarts (DMart), and IndusInd Bank.

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