On the economy front, India’s WPI inflation has eased to 2.76% in January, as compared to 3.80% in December, due to cheaper food and fuel prices.
Shares of DHFL erased morning losses and are currently trading higher by 12% on the BSE after the fresh development that the resignation was in-line to get a new strategic partner within the given time frame.
Sugar stocks gained in Thursday’s trade after media reports stated that in a meeting of CoS, a proposal was discussed to hike MSP. Shares of Balrampur Chini Mills, Dhampur Sugar Mills, Bajaj Hindusthan Sugar, Shree Renuka Sugars are up in the range of 3-6% each.
Shares of Yes Bank jumped 22% as the Reserve Bank of India (RBI) has not found any divergence in the asset classification and provisioning done by the lender during 2017-18.
The Sensex is down 70 points at 35,964, while the Nifty slipped 25 points at 10,769. The market breadth was negative with 764 shares advancing, 908 shares declining, and 390 remaining unchanged.
Yes Bank, Indiabulls HF, Zee, and Hero MotoCorp are trading higher on the NSE, while IOC, BPCL, and Coal India are trading lower.
Volatility index India VIX was up 0.42% at 15.79.
The most active stocks were Yes Bank, Reliance Industries, L&T, and Axis Bank.