Sensex, Nifty open lower; Yes Bank at 52-week low

On the sectoral front, BSE IT, Bankex, Finance and Telecom were among falling sectors, while Oil & Gas, PSU and Consumer Durables surged in today’s trade.

Jun 13, 2019 04:06 IST India Infoline News Service

Stock Market Down, Sensex Down
Equity benchmark indices opened in the negative territory on Thursday amid mixed global cues and oil prices hovering at a five-month low. On the sectoral front, BSE IT, Bankex, Finance and Telecom were among falling sectors, while Oil & Gas, PSU and Consumer Durables surged in today’s trade.

The Sensex was trading at 39,640 levels, down 116 points, while the Nifty was trading lower 36 points at 11,869 levels. The market breadth was negative on the NSE with 537 shares advancing, 990 shares declining, and 548 remaining unchanged.

Shares of Indiabulls Housing Finance slipped 5% in the morning trade. The company approached the Supreme Court on Wednesday seeking that the case is heard urgently given that rumours regarding the allegations were causing a massive decline in its stock price and market cap.

Shares of Jet Airways tanked 12% on Thursday after the National Stock Exchange (NSE) in its circular informed that shares of Jet Airways (India) Ltd will be removed from daily trading of futures and options effective June 28.

Shares of Tata Motors fell 1% on the NSE. Jaguar Land Rover Ltd, its UK subsidiary of Tata Motors Ltd showed a 12.2% sales decline in May.

On the currency front, the Indian rupee oscillated between gains and losses to trade little changed at 69.33 against the US dollar.

On the economy front, the inflation numbers for May surged to their seven-month high in May although within the RBI’s range. India’s industrial output also soared to a six-month high of 3.4% in April on the back of improvement in mining and power generation.

Meanwhile, oil prices steadied after slumping as much as 4% in the previous session to nearly five-month lows on the back of a further build-up in US crude stockpiles and worries about lower demand growth.

The Volatility gauge, India VIX was down 0.37% at 14.07.

The most active stocks on the NSE are Indiabulls Housing, Yes Bank and IndusInd Bank.

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