Sensex And Nifty Down In Early Trade

After touching new all time high in yesterday's trade, the market opened in red in the early morning trade. The benchmark indices Sensex and Nifty slipped by 0.25% and 0.31% in the opening session. This is primarily due to profit-booking by the retail investors. The overall market breadth on BSE was negative as about 775 shares advanced while 1102 shares declined on BSE. The broader markets BSE mid-cap and small-cap indices were down by 0.03% and 0.19% respectively.

Tracking the momentum of the sectoral indices, selling pressure was witnessed in Metal, IT and Oil & Gas sector; these sectors were trading in red and were down by 0.71%, 0.74% and 0.52% respectively. The major gainers in today's trade were Apollo Tyres, the stock was trading up by 1.65% after the report that the company is setting up a new plant in Hungary with 442.2 million euros. Cipla was up by 0.91% after the company announced collaboration with UK based S&D Pharma in Czech Republic and Slovakia. Shares of Punj Llyod were seen trading up by 6.40% after the company wins Rs 3515 crore tankage order from Petronas Malaysia. However Hindalco and Jindal Steel and Power were seen trading in red, the shares of the company was down by 1.43% and 0.92% respectively as the Supreme Court is expected to give the verdict on coal block allocations today.

Further a mixed trend was seen in the Asian markets, Japan's Nikkei was up by 0.37%, and China’s Shangai was up by 0.13%. However, Honk Kong's Hang Seng was seen trading down by 0.20%.