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Nifty trades below 10,650 mark; Sun Pharma, Infosys stocks drag

Among sectoral indices, the Nifty Metal index was trading nearly 1% lower led by a fall in shares of Hindustan Zinc and Hindalco.
Benchmark equity indices extended losses in late afternoon trade, with the Sensex falling over 150 points tacking losses in global equities. Shares of heavyweight’s index ITC, Infosys and Reliance Industries edged lower.

The Sensex was trading below the psychological 35,000 mark after falling below that level in morning trade.

At 2:16 PM, the BSE Sensex was trading at 34,931, down 199 points, while the Nifty50 index was trading at 10,621, down 59 points.

Among sectoral indices, the Nifty Metal index was trading nearly 1% lower led by a fall in shares of Hindustan Zinc and Hindalco. The Nifty IT index too was down led by a fall in shares of MindTree and Wipro.

Shares of Godrej Properties zoomed 3% after the company reported its net profit stood at Rs141.5cr, increased by 126% on yoy basis.

Shares of HUDCO hit its lowest level since listing at Rs63.45, down 1% on the BSE.

Indiabulls Real Estate stock rose 1% after the company initiated sale of commercial assets in Chennai, which constitutes non-core business operations.

On the economy front, the seasonally adjusted Nikkei India Services Business Activity Index rose from 50.3 to 51.4 in April.

The BSE Midcap was marginally down by 0.30% and the BSE Smallcap indices were down 0.06%.

Adani Ports (+2.3%), GAIL (+2%), ONGC (+1.2%), BPCL (+1.1%) and HCL tech (+1%) were the top gainers on Nifty50.

Sun Pharma (-2.6%), Infosys (-2%), Bajaj Auto (-2%), Eicher (-2%) and Cipla (-1.6%) were the top losers in today’s trade.

Out of 2,046 stocks traded on the NSE, 726 advanced, 946 declined and 374 remained unchanged today.