Sensex Sheds Over 250 Points, Nifty Below 10,650; NTPC Falls Over 4%

The domestic stock markets started off the first day of the week on Monday on a negative note. The S&P BSE Sensex skidded 43.02 points or 0.12 per cent to trade at 35,545.22 in early morning trade. The Nifty50 index tripped 7.25 points or 0.07 per cent to trade at 10,721.55. At 12:45 pm, Sensex was 288.15 points down and traded at 35,135.33 level. The NSE Nifty, at the same time, traded at
10,620.05 mark. Domestic equity indices are down today mirroring weak global sentiment, as investors booked profits in market heavyweights, while auto stocks rose following robust monthly sales data.

Asian shares were also subdued, as trade tensions between the US and its trading partners still continues to be a key concern for investors. Movement in the rupee against the US dollar and fluctuations in global crude oil prices drove investor sentiments.

Top laggards in the 30-share Sensex pack were ONGC (-0.76 per cent), TCS (-0.93 per cent), ITC (-0.94 per cent), NTPC (-1.10 per cent), Coal India (-1.12 per cent) and Vedanta Limited (-1.25 per cent). Major gainers in the Sensex pack were Bajaj Auto (+2.24 per cent), Tata Steel (+2.18 per cent), Tata Motors (+1.63 per cent), HeroMotoCorp (+1.54 per cent), Mahindra & Mahindra (+1.09 per cent) and Infosys (+0.90 per cent).

Tata Steel, Bajaj Auto, Tata Motors, Hindustan Petroleum and UPL were leading the pack of Nifty gainers while main losers on the index in the morning session were NTPC, Vedanta, Coal India, ONGC and ITC.

Sectoral indices led by power, FMCG, PSU banks, infrastructure, capital goods and banking stocks were trading in the negative zone, falling up to 1.07 per cent.

In the forex market, the rupee strengthened by 13 paise to 68.33 against the US dollar in early trade on Monday on increased selling of the US currency by exporters and banks. 

In global share markets, Japan's Nikkei dipped 0.1 per cent today, with a survey of manufacturers showing sentiment had darkened a shade in the face of trade war threats.

Brent crude was down 61 cents at $78.62 a barrel, while US crude fell 62 cents to $73.53. The pullback was modest given US crude rallied more than 8 per cent last week, while Brent gained more than 5 per cent.

In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors sold scrips worth Rs. 1,380.94 crore during last week. Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors (FPIs) invested in equities worth Rs. 528.41 crore, or $79.66 million, in the week ended on June 29. Foreign Portfolio Investors (FPIs) sold shares worth Rs 157.15 crore, while domestic institutional investors (DIIs) bought shares worth Rs 2,262.83 crore on Friday, as per provisional data.

Meanwhile, government-run consultancy company RITES on Monday made its stock market debut as it listed at Rs. 190 per share. The shares of Fine Organic Industries Limited, which listed on the bourses on Monday, lost steam soon after opening at Rs. 815, at a premium of 4.08 per cent over its issue price of Rs. 783. (With Agencies inputs)