Sensex, Nifty trade flat as volatility shrinks; Dr Reddy’s tops, Adani Ports dips; 12 mid-caps rise over 1%

By: | Published: May 22, 2018 9:55 AM

The domestic markets started in the negative territory on Tuesday with the key equity indices Sensex and Nifty hovering into losses as shares of blue-chip companies such as Infosys, SBI, ICICI Bank contributed heavily in the downsurge while Bharti Airtel plunged over 2%.

Amid the constituents of BSE Sensex, shares of Bajaj-Auto, Tata Motors, Dr Reddy’s, Coal India and ONGC surged 1-2%. (Image: PTI)

The domestic markets started in the negative territory on Tuesday with the key equity indices Sensex and Nifty hovering into losses as shares of blue-chip companies such as Infosys, SBI, ICICI Bank contributed heavily in the downsurge while Bharti Airtel plunged over 2%. Shares if JP Associates, Just Dial, Balrampur Chini Mills, Reliance Naval and Engineering and TV18 Broadcast emerged as the top gainers while shares of MGL, BBTC, DLF, Dilip Buildcon and BEML were the top laggards out of the ‘A’ group on BSE.

Amid the constituents of BSE Sensex, shares of Bajaj-Auto, Tata Motors, Dr Reddy’s, Coal India and ONGC surged 1-2% whereas shares of Infosys, Hero MotoCorp, Sun Pharma, Adani Ports, SBI, M&M tanked up to 1.2%. The sectoral indices on NSE were trading mixed with Nifty PSU Bank index shedding more than 1% and Nifty Metal index being the highest gainer. Volatility declined in the wee hours of trading as India Vix, the volatility indicator on NSE, dropped 18.49% to 11.7450 on Tuesday.

A bunch of mid-cap shares which shone in the early dealings are Ashok Leyland, TVS Motor, JSW Steel, Petronet LNG, Britannia, Tata Global Beverages, Bajaj Finserv, Pidilite, Bharat Forge, IDFC Bank, Cummins India and REC. These 12 stocks surged more than 1% each on Tuesday while Vakrangee, DLF, Apollo Hospitals, Shree Cement and Dabur declined more than 1% with Vakrangee losing 5%.

US stocks rose on Monday and gains in industrials helped propel the Dow to a more than two-month closing high, after a truce between the United States and China calmed fears that a trade war might be imminent, Reuters said in a report. The Russell 2000 rose 0.7% to hit a record closing high for a fourth straight session, though the index of small-cap companies underperformed large caps, Reuters report added. The Dow Jones Industrial Average rose 298.2 points or 1.21% to 25,013.29, the S&P 500 gained 20.04 points or 0.74% to 2,733.01, and the Nasdaq Composite added 39.70 points or 0.54% to 7,394.04.

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