Sensex And Nifty Extend Losses After Witnessing Gains In Early Trade

The benchmark indices opened marginally higher in the early morning trade. However the indices are likely to remain range bound ahead of Supreme Court’s verdict on coal block allocations. Also the investors are cautious due to the September F&O expiry tomorrow. At 9.30 am, the BSE Sensex was up by 45 points at 26839 and NSE Nifty was up by 12 points at 8012. However, the markets dipped and extended losses at 10.45 am. The Sensex dipped down by 8 points at 26767 and the Nifty edged lower by 14 points at 8003. The BSE mid-cap and small-cap indices were seen trading in red and were down by 1.43% and 1.70% respectively.

Tracking the momentum of the sectoral indices, all the indices were seen trading in negative zone. However, BSE FMGC index was trading up by 0.78%. The gainers in today trade included Thermax which was up by 3.42% after the company announced the joint venture with Wilcox Energy and also the company has received an export order of Rs 339 crore. JSW Energy was up by 2% after it mentioned in the BSE disclosure that it has received environmental clearance from Ministry of Environment, Forests and climate change to increase its mining capacity. The other gainers in today's trade included Wipro, Coal India and Sun Pharma which was up by 1.94%, 1.66% and 1.49% respectively. However, shares of Jindal Steel and Power were seen trading in negative zone, down by 1.40% ahead of Supreme Court verdict today. Bharti Airtel, PNB and BPCL were also seen trading in red down by 2%, 1.59% and 1.57% respectively.

Further a mixed trend was seen in the Asian markets, Japan's Nikkei was seen trading in negative zone, down by 0.47%. However, Hong Kong's Hang Seng and China's Shanghai was seen trading up by 0.43% and 0.85% respectively.