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Sensex down 150 points; Alkem Lab, Persistent Systems stocks down

Domestic benchmark indices continued to trade in the negative territory led by losses in shares of metal, infrastructure, and oil and gas companies.

At 2:10 PM, the BSE Sensex was trading at 33,022, down 151 points, while the Nifty50 index was trading at 10,142, down 42 points.

The BSE Midcap and the BSE Smallcap indices were down by 0.48% and 0.80%, respectively.

Nifty Metal was the worst performer among sectoral indices on the NSE, down 1.5%, as investors booked profits after Tuesday’s gains.

Nifty Auto was the top gainer among sectoral indices, up 0.3%.

Shares of Jet Airways India fell over 3.5% after media reports said the company has deferred payment of March salary to its staff.

Alkem Lab stock fells 11% after USFDA issued Form 483 with 13 observations for its Daman plant.

Persistent Systems stock tanked 10% after the IT company informed the exchanges that it is expecting a decline in IP revenues for Q4FY18, which is about to wrap up shortly.

HAL listed at 5% discount to its issue price of Rs1,240 per share on NSE. The issue had the weak subscription at 0.99x. The stock is currently trading at Rs1,167.40 down by Rs47.6 or 3.92% from its previous closing of Rs1,215 on the BSE.

Volatility index India VIX was down 1.36% to 15.3375.

Tech Mahindra (+2.2%), Wipro (+1.9%), Hero MotoCorp (+1.8%), Bosch (+1.7%) and Maruti (+1.6%) were the top gainers on Nifty50.

Tata Steel (-3.5%), Bharti Airtel (-3%), Adani Ports (-2.6%), Hindalco (-1.7%) and ICICI Bank (-1.6%) were the top losers in today’s trade.

Out of 2,026 stocks traded on the NSE, 517 advanced, 1,189 declined and 320 remained unchanged today.

A total of eight stocks registered a fresh 52-week high in trade today, while 126 stocks touched a new 52-week low on the NSE.