Sensex, Nifty Struggle As Banking, Auto, Metal Shares Fall

Thirteen of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Power index's nearly 2 per cent gain.

Sensex, Nifty Struggle As Banking, Auto, Metal Shares Fall

Coal India was top loser in the Nifty 50 basket of shares, the stock fell 4.4 per cent to Rs 193.25.

The S&P BSE Sensex and NSE Nifty 50 indexes continue to trade lower and were on track to clock third straight day of losses as banking, auto and metal shares came under selling pressure. The benchmarks opened higher but soon turned negative weighed down by weakness in heavyweights like Kotak Mahindra Bank, ICICI Bank, HDFC and Maruti Suzuki. The Sensex fell as much as 366 points from day's highest level of 41,532 and NSE Nifty 50 index touched an intraday low of 12,119.

As of 12:38 pm, the Sensex was down 107 points at 41,317 and the NSE Nifty 50 index was at 12,133, down 37 points.

Thirteen of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Power index's nearly 2 per cent gain. S&P BSE Bankex, Oil & Gas, Metal, Auto and Utilities indexes were also down between 0.8-1.5 per cent each.

On the other hand, S&P BSE Information technology index was top gainer, up 1.25 per cent.

Mid- and small-cap shares were largely outperforming their larger peers as the S&P BSE MidCap index fell 0.1 per cent while the S&P BSE SmallCap index rose 0.2 per cent.

Coal India was top loser in the Nifty 50 basket of shares, the stock fell 4.4 per cent to Rs 193.25. ONGC, NTPC, Tata Motors, Power Grid, Maruti Suzuki, Kotak Mahindra Bank, UPL, Asian Paints, ICICI Bank and Bharti Infratel were also among the losers.

On the flipside, Grasim Industries, Nestle India, Tata Consultancy Services, Infosys, HCL Technologies, Adani Ports and Vedanta were among the gainers.

The overall market breadth was marginally negative as 1,178 shares were trading lower while 1,072 were trading higher on the BSE.

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