Sensex, Nifty Fall On Mixed Global Cues

The benchmark indices opened on a lower note after resuming from a long holiday. The indices were seen trading in a negative zone. BSE Sensex was seen trading down marginally by 86 points at 26481 while NSE Nifty was down by 33 points at 7911. However the broader markets BSE mid-cap and small-cap indices outperformed their counterparts. The mid-cap and small-cap indices were seen trading in a positive zone, up by 0.13% and 0.38% respectively.

Tracking the momentum of the sectoral indices, BSE IT was the top sectoral gainer, up by 0.70%. Among the gainers, Tata Motors and HCL Tech were up by 1.65% and 0.94% respectively. Ballarpur Industries was seen trading up by 10% after the company entered an agreement with International Finance Corp for the sale of new shares around $100 million. Hindustan Motors and ICICI Bank were up by 5.6% and 2% respectively after the companies’ allotted 11.42% and 5.15% stake to its lenders. Among the losers, Hindalco and Jindal Steel were trading down by 3.70% and 3.02% respectively. IPCA Laboratories was down by 4% after the reports that Health Canada has banned imports of some medication. DLF was trading down by 3% after Prime Minister Narendra Modi asked Election Commission to look into the deal.

Further a mixed trend was seen in the Asian markets. Hong Kong's Hang Seng and China's Shanghai was marginally up by 0.64% and 0.26% respectively. However, Japan's Nikkei was down by 0.43%.