Sensex, Nifty trade volatile; Midcap underperforms
Equity benchmarks erased gains dragged by auto, metal, media, IT, pharma and media stocks.
Benchmark indices were trading range bound but have now turned into a negative zone. Financial stocks are the top gainers, with Bank Nifty gaining a percent, while Nifty PSU bank index up over 1.5%.
At 1:16 PM, the BSE Sensex was trading at 35,181, down 27 points, while the Nifty50 index was trading at 10,708, down mere eight points.
In the broader market, the BSE Midcap was marginally lower by 0.24%, while the BSE Smallcap was up 0.02%.
Most realty shares rose. Godrej Properties (up 4.66%), Anant Raj (up 2.43%), Phoenix Mills (up 1.36%), DLF (up 1.07%), Indiabulls Real Estate (up 1.06%), Sunteck Realty (up 0.95%), Mahindra Lifespace Developers (up 0.74%), D B Realty (up 0.63%).
Fortis Healthcare stock slipped 2% after block deal. Around 37 lakh shares change hands in two block deals.
Godrej Consumer Products stock gained 1.5% after the company posted that its net profit rose 59% year-on-year to Rs617cr for the fourth quarter ended March led by its strong soap business.
Shares of Unichem Laboratories added 1% after USFDA approval for Valsartan tablets.
ICICI Bank (+7%), HPCL (+3.5%), BPCL (+2.3%), SBI (+1.9%) and Eicher (+1.5%) were the top gainers on Nifty50.
M&M (-2.5%), IndusInd Bank (-2%), L&T (-1.9%), Yes Bank (-1.6%) and Bajaj Finance (-1.4%) were the top losers in today’s trade.
Out of 2,045 stocks traded on the NSE, 724 advanced, 939 declined and 382 remained unchanged today.