Index heavyweights such as Reliance Industries (RIL), Infosys, TCS, ICICI Bank and HCL Technologies were among top index contributors. The smallcap index outperformed the BSE Sensex, rising 0.41 per cent to trade at 14,633.
Headline indices BSE Sensex and Nifty 50 were continuously gyrating between gains and losses in Tuesday’s opening session. At 9.55 AM, the 30-share Sensex was trading 85 points or 0.22 per cent higher at 38,502, while the broader Nifty 50 index was ruling 13 points or 0.12 per cent up at 11,379. Index heavyweights such as Reliance Industries (RIL), Infosys, TCS, ICICI Bank and HCL Technologies were among top index contributors. The smallcap index outperformed the BSE Sensex, rising 0.41 per cent to trade at 14,633. “The Nifty is trading above 11300 which continues to remain a bullish sign. However, if we disrespect the levels of 11200, we could slide further to break 11000. On the upside, an impulsive bull rally will only be seen post 11600. Until then we would be in a 300-400 point range between 11200 – 11600,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Infosys top Sensex gainer: Out of 30 Sensex stocks, 10 scrips were trading in the positive territory. Infosys gained 1.52 per cent to trade at Rs 939, followed by TCS, HCL Tech, Tech Mahindra. Other gainers on the index were Reliance Industries, ICICI Bank, Bajaj Finance and Asian Paints.
Bharti Airtel drops over 1%: NTPC shares were the worst-performing stocks on the index, down 1.51 per cent. While Nestle India, IndusInd Bank, Bharti Airtel, Power Grid Corporation of India and Kotak Mahindra Bank were down in the range of 1-1,26 per cent. SBI, Titan Company, HDFC, ITC and ONGC were among other losers.
SmallCaps beat BSE Sensex: The broader markets were also positive in Tuesday’s session. BSE Midcap index was up 0.11 per cent or 16.45 points to trade at 14,718.57, while the BSE SmallCap index was ruling 0.41 per cent or 59.49 points higher at 14,633.
Nifty IT, Nifty Pharma only sectoral gainers: The trend among the sectoral indices was negative. Nifty IT index was top sectoral gainer, up 1.51 per cent led by Naukri, TCS, L&T Infotech and Wipro. Nifty FMCG index was down 0.33 per cent dragged down by ITC, Nestle India, Dabur and Hindustan Unilever (HUL).
Bharat Dynamics tanks 13%: Bharat Dynamics share price tumbled 12.64 per cent at Rs 335.90 apiece on BSE a day after the defence company informed that government is planning to sell 15 per cent stake in Bharat Dynamics through an offer for sale on 8-9 September.