Sensex, Nifty volatile; Bank of Baroda, Balrampur Chini stocks slip
Equity benchmark indices fluctuated between gains and losses in the morning trade amid mixed global clues.
On the international front, Trump administration will slap a 10% tariff on about $200bn in Chinese goods next week and more than double the rate in 2019, deepening what’s shaping up to be a prolonged trade war between the world’s two biggest economies.
Shares of Bank of Baroda fell 8% after the government decided to merge Vijaya Bank and Dena Bank with BoB. Other small-sized PSU banks such as Indian Overseas Bank, Corporation Bank, UCO Bank and Central Bank of India were trading higher by 8% respectively, whereas Indian Bank and Canara Bank shed up to 3%.
The Indian rupee started marginally lower against the US dollar on Tuesday at the interbank foreign exchange market.
Sensex was down 25 points at 37,560, and the Nifty was down 9 points at 11,368. India VIX inched higher 0.17% to 14.52.
In the broader market, the BSE Midcap up 0.11%, while the BSE Smallcap was slightly up.
Out of 2,058 stocks traded on the NSE, 752 advanced, 823 declined and 483 remained unchanged today.
HUL (+2.6%), Dr.Reddy’s (+1.6%), Yes Bank (+1.5%), UPL (+1.3%) and Titan (+1.1%) were the top gainers, while Tech Mahindra (-1.8%), Vedanta (-1.7%), Tata Motors (-1.5%), Power Grid (-1.3%) and SBI (-1.1%) were the top losers on the NSE.
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