Sensex Sheds Over 100 Points; Bajaj Auto, Axis Bank Weak


Ultratech cement, Bajaj Auto and Axis Bank have shed around a per cent each on the BSE

The benchmark indices are having a lacklustre session of trading as they seek to consolidate near all-time highs, after the gains witnessed in the past two weeks. At 12:30 pm, the Sensex is trading at 58,107.55, lower by 142.80 points or 0.25 per cent and the Nifty is at 17,307.40, down 43.70 points or 0.22 per cent. Out of the 30 BSE Sensex stocks, 15 are trading in the green and an equal number are in negative territory. Gains in Bharti Airtel, ITC, Tata Steel and Hindustan Unilever and being negated by losses in Ultratech cement, Bajaj Auto and Axis Bank.

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The broader markets are outperforming the largecap peers, with the BSE Midcap index and BSE Smallcap index gaining 0.1 per cent and 0.3 per cent respectively.

In the currency market, the rupee has plunged 25 paise to 73.85 against the US dollar on Thursday, weighed down by the an uptrend in the dollar index and importer hedging. At the interbank foreign exchange, the rupee opened at 73.77 against the dollar and subsequently declined to 73.85.

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Meanwhile, all eyes are on the ECB council meeting scheduled later in the day as it is expected to start tapering its stimulus programme soon given the surge in inflation to a 10-year high.

On the stock-specific front, Nestle has soared by 2 per cent to top the gainer’s list on the BSE. Bharti Airtel, ITC, Tata Steel and Hindustan Unilever have added up to 1 per cent each on the BSE.

On the other hand, Ultratech cement, Bajaj Auto and Axis Bank have shed around a per cent each in the BSE pack.

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Among stocks in the news, Infosys has announced a multi-year strategic partnership with global media firm Economist Group to accelerate sustainability solutions. Infosys shares are trading at Rs 1,685, lower by 0.4 per cent, on the BSE.

And TCS has said that Avianca, one of the leading airlines in South America, selected it as a strategic partner in its cloud transformation journey. TCS shares rose 0.9 per cent to Rs 3,797.40 on the BSE.

The BSE market breadth is positive. Out of 3,200 stocks traded on the BSE, there are 1,671 advancing stocks as against 1,375 declines.


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