Sensex, Nifty trade flat as investors bet cautiously; Bajaj twins, Titan, ITC offset losses

BSE Midcaps and Smallcaps indices offset the losses, surging by at least 1% each.

Nov 19, 2020 11:11 IST India Infoline News Service

Indices recovered from early sell-offs and were trading on a flat note as investors continued to bet cautiously amid weak global cues. At around 11.25 am, Sensex performed at 44,162.57, down 17.48 points or 0.04% while Nifty 50 tradeed at 12,942.15, up 3.90 points or 0.03%.

The 30-scrip index recorded 19 advances and 11 declines, while the 50-scrip index saw 34 advances and 16 declines.

BSE Midcaps and Smallcaps indices offset the losses, surging by at least 1% each.

On Sensex, gainers that supported in limiting the losses were - Bajaj Finserv (+5%), Titan (+3%), ITC (+2.5%), followed by NTPC, Tata Steel and Bajaj Finance gaining by 2% each.

ONGC, Nestle India, Power Grid, Tech Mahindra, TCS, M&M, Kotak Bank and L&T also surged between 1-2%.

However, major banking and financial stocks weighed on the benchmarks. Top underperformers on Sensex were - HDFC Bank (-2%), HDFC and ICICI Bank down 1.5% each. Axis Bank and SBI plunged by 1.4% each.

BSE Bankex was down 0.84% at 33,858.29, while BSE Finance dived 0.61% at 6,578.70.

The Indian rupee also faced the brunt of volatile domestic equities. The local currency was trading lower at 74.28 against the greenback at the interbank forex market.

The rupee opened at 74.28 against the dollar, lower by 10 paise compared to the previous closing of 74.19.

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