Sensex, Nifty On Track To Break 4-Day Winning Streak

The S&P BSE Sensex and NSE Nifty 50 indexes were on track to break their four-day winning streak led by losses in Reliance Industries, Infosys, HDFC Bank, ICICI Bank and Tata Consultancy Services. The Sensex traded in a range of 330 points and Nifty touched an intraday high of 11,939.55 and low of 11,845.65. The benchmarks were trading in a rangebound fashion as weekly index derivatives were set to expire later in the day. Gains in Bajaj Finance, Bharti Airtel, Axis Bank and Larsen & Toubro kept the downside in check.

As of 2:07 pm, the Sensex was down 163 points at 40,544 and Nifty fell 51 points to 11,886.

Seven of 11 sector gauges compiled by the National Stock Exchange were trading lower led by the Nifty Pharma index's 1.3 per cent fall. Private Bank, IT, financial services and auto shares were also witnessing pressure.

On the other hand, media, metal and PSU banking shares were witnessing selling pressure.

Mid- and small-cap shares were witnessing buying interest as the Nifty Midcap 100 index rose 0.2 per cent and Nifty Smallcap 100 index advanced 0.3 per cent.

Hero MotoCorp was top Nifty loser, the stock fell 3 per cent to Rs 3,080. IndusInd Bank, Cipla, ICICI Bank, Tech Mahindra, Infosys, Eicher Motors, Asian Paints, Dr Reddy's Labs and Sun Pharma were also among the losers.

On the flipside, Bajaj Finance, Bharti Airtel, Adani Ports, Indian Oil, Britannia Industries, Tata Motors, ONGC, Larsen & Toubro, Tata Steel and Bajaj Finserv were among the gainers.

The overall market breadth was neutral as 1,294 shares were advancing while 1,218 were trading lower on the BSE.