Yes Bank was top loser in the Nifty 50 basket of shares, the stock rose 3.2 per cent to Rs 50.
The S&P BSE Sensex and NSE Nifty 50 indexes extended declines in noon deals ahead of futures and options expiry for the month of December. Weakness in heavyweights like Reliance Industries, HDFC Bank, Larsen & Toubro, Kotak Mahindra Bank, Bharti Airtel and Axis Bank weighed on the benchmarks. Earlier in the day, benchmarks traded marginally lower and fluctuated between gains and losses but weakness in banking shares in afternoon trading led to increased losses on Dalal Street.
As of 1:27 pm, the Sensex traded 112 points lower at 41,349 and NSE Nifty 50 index was down 34 points at 12,180.
Nine of 11 sector gauges compiled by National Stock Exchange were trading lower led by the Nifty PSU Bank index’s 1 per cent decline. Nifty Bank, Nifty Private Bank, and Nifty Realty indexes also fell between 0.2-0.6 per cent each.
On the other hand, Nifty Metal index was top gainer, up 0.6 per cent.
Mid- and small-cap shares were outperforming their larger peers as the Nifty Midcap 100 index rose 0.1 per cent and the Nifty Smallcap 100 index advanced 0.4 per cent.
Yes Bank was top loser in the Nifty 50 basket of shares, the stock rose 3.2 per cent to Rs 50. Indian Oil, Coal India, Bharti Airtel, Larsen & Toubro, Zee Entertainment, Reliance Industries and Dr Reddy’s Labs also declined between 0.8-1.6 per cent each.
On the flipside, Vedanta, JSW Steel, Tata Steel, Mahindra & Mahindra, Eicher Motors, Bajaj Finserv, Bajaj Finance and Hero MotoCorp were among the gainers.
The overall market breadth was marginally positive as 1,292 shares were advancing while 1,009 were declining on the BSE.
Source: NDTV Profit