Benchmark indices are trading at day’s low in Friday’s late morning session, with both the S&P BSE Sensex and Nifty50 tumbling almost 1 per cent. While all the sectors are facing selling pressure, auto and PSU bank stocks are the worst-hit.
The S&P BSE Sensex tumbled 372 points, or 0.96 per cent, to 38,526, with Bajaj Finance, Tech Mahindra, Hero MotoCorp, Mahindra & Mahindra, and Tata Motors leading the list of losers. The broader Nifty50 index slipped 117 points, or 1.1 per cent, to 11,480.
All the Nifty sectoral indices were trading in the red. Nifty Auto index slipped the most 2 per cent, while Nifty PSU Bank was down 1.8 per cent.
In the broader market, the S&P BSE MidCap index was hovering around 14,224 levels, down 139 points, or 0.97 per cent, and the S&P BSE SmallCap index dipped 165 points, or 1.21 per cent, to 13,393.
Reliance Industries and InterGlobe Aviation, IndiGo’s parent company, are among the 27 companies scheduled to announce their June quarter earnings today.
ACC shares rose 5 per cent to Rs 1,647 on the BSE in Friday’s early morning deal after the company reported a better-than-expected 39 per cent year-on-year (YoY) growth in consolidated net profit at Rs 456 crore in June quarter (Q2CY19) on the back of higher realisation. The cement company had a profit of Rs 329 crore in the same quarter last year. READ MORE