Key benchmark indices extended losses and hit fresh intraday low in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex was down 166.17 points or 0.58% at 28,493.16. The Nifty 50 index was currently down 48.10 points or 0.54% at 8,783.45. Weakness in Asian stocks weighed on sentiment.
The Sensex dropped 168.60 points or 0.58% at the day's low of 28,499.62 in mid-morning trade, its lowest level since 21 September 2016. The barometer index fell 37.30 points or 0.13% at the day's high of 28,630.92 at the onset of the trading session. The Nifty dropped 51.65 points or 0.58% at the day's low of 8,779.90 in mid-morning trade, its lowest level since 21 September 2016. The index shed 22 points or 0.24% at the day's high of 8,809.55 at the onset of the trading session.
In overseas stock markets, Asian stocks dropped after losses on Wall Street on Friday, 23 September 2016, as investors' attention turned from central banks to American politics ahead of the first US presidential debate. US stocks logged weekly gains but ended with solid losses on Friday, 23 September 2016. Investors awaited US presidential debate between Donald Trump and Hillary Clinton due later in the global day today, 26 September 2016. US presidential elections will be held on 8 November this year.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,160 shares rose and 1,108 shares fell. A total of 163 shares were unchanged. The BSE Mid-Cap index was currently up 0.1%. The BSE Small-Cap index was currently up 0.17%. Both these indices outperformed the Sensex.
Realty stocks were mixed. Sobha (up 0.44%), Indiabulls Real Estate (up 2.33%), Godrej Properties (up 0.06%), and Housing Development & Infrastructure (HDIL) (up 0.18%) gained. Unitech (down 1.15%), Oberoi Realty (down 1.27%), NBCC (down 0.73%), DLF (down 0.03%), and Omaxe (down 0.12%) edged lower.
Most auto stocks declined. Mahindra & Mahindra (M&M) (down 1.39%), Ashok Leyland (down 0.6%), Eicher Motors (down 0.34%), Hero MotoCorp (down 0.98%), and Bajaj Auto (down 0.58%) declined. Maruti Suzuki India (up 0.17%) and TVS Motor Company (up 0.1%) gained.
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Shares of GNA Axles were trading at Rs 249 on BSE, a premium of 20.29% over the initial public offer price of Rs 207. The stock debuted at Rs 248.50, a premium of 20.05% to the initial public offer (IPO) price. So far the stock hit a high of Rs 260 and low of Rs 242.20. On BSE, so far 4.12 lakh shares were traded on the counter. GNA Axles is into manufacturing of rear axle shafts used in on-highway and off-highway vehicular segments in India.
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