Sensex, Nifty trade volatile; Media, FMCG stocks gain

HPCL, Asian Paints, Sun Pharma, Zee, and ITC were the top gainers on the Nifty50, while Tata Motors, Infratel, JSW Steel, M&M, and Tata Steel were trading in the red.

Jan 24, 2019 04:01 IST India Infoline News Service

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Equity benchmark indices opened on a positive note but later on it slipped into the negative zone. On the sectoral front, realty, media, FMCG, and banking stocks are trading higher, while financial, auto IT indices are under pressure.

On the economy front, Piyush Goyal has been named the interim Finance Minister and interim Minister of Corporate Affairs during Arun Jaitley's indisposition. Goyal is likely to present the interim Budget on February 01.

The Sensex was up marginally by 7 points to 36,116, while the Nifty was slightly down by 11 points at 10,821 levels. The market breadth was narrow with 751 shares advancing, 752 shares declining, and 537 remaining unchanged.

HPCL, Asian Paints, Sun Pharma, Zee, and ITC were the top gainers on the Nifty50, while Tata Motors, Infratel, JSW Steel, M&M, and Tata Steel were trading in the red.

Shares of Bharti Infratel erased early morning gains and were trading lower by 1%. The consolidated revenue for the quarter was Rs3,640cr, which remained flat on yoy basis. Consolidated EBITDA was at Rs1,513cr, down 6.2% yoy, representing an operating margin of 41.6%.

Volatility index India VIX gained 0.33% to 17.98.

The most active stocks were IndiGo, ITC, Yes Bank, Sun Pharma, and Reliance Industries.

Asian stock markets were trading on a mixed note as investors awaited fresh development in the US-China trade talks amid global economic growth worries.

On the currency front, the yuan held overnight gains ahead of key trade talks next week. Further, the pound punched through $1.30 amid signs that the UK Parliament is inching closer to a plan for delaying Brexit.

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