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Markets continued to trade lower in afternoon session this Monday on back of profit-booking in fast moving consumer goods and infrastructure stocks after recent rally.
At 1PM, the Bombay Stock Exchange's 30-share index Sensex fell 207 points at 19,913 while the National Stock Exchange's 50-share Nifty was down 60 point at 6,048.
Meanwhile, global risk appetite was firm driven by a rally in Japanese exporters after the yen weakened past 102 versus the dollar.
Asian markets traded mixed with Hong Kong’s Hang Seng falling 1% to 23,074, China’s Shanghai Composite shed 0.25% to 2,241, Singapore’s Straits Times fell 0.2% to 3,437 while Japan’s Nikkei surged 1% to 14,874 today.
Meanwhile, European markets were down in opening deals. France’s CAC declined 0.1% to 3,949, UK’s FTSE shed 0.08% to 6,619 while Germany’s DAX was down 0.04% to 8,275.
Back home, the key sectoral indices such as FMCG, capital goods, IT, technology, bankex dropped while oil and gas rose on the BSE.
The gainers on the Sensex included, Dr Reddy’s gaining 1.2%, NTPC rose 0.7% while HDFC Bank added 0.2% on the BSE.
The laggards included counters such as ITC slumping 4.4%, GAIL and BHEL dropped over 2%, Larsen & Toubro declined 1.8%, Tata Consultancy Service and Wipro were down between 1.5-1.8% on the BSE.
The key notable movers included, DLF is trading lower by 2% at Rs 233 ahead of the equity share sale to institutional investors tomorrow to raise up to Rs 1,888 crore.
Bank of Baroda has dipped 3% to Rs 683 on reporting 32% year-on-year (yoy) fall in its net profit at Rs 1,029 crore for the fourth quarter ended March 31, 2013, due to higher provisioning for bad loans. The state-owned bank had profit of Rs 1,518 crore in a year ago quarter.
The broader markets fell with mid-caps and small-caps declining nearly 0.5% on the BSE.
The market breadth was negative. Out of 2,189 stocks traded, 1,248 stocks declined compared to 810 gained on the BSE.
