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The market remained under pressure in noon trade due to profit booking in banking, power, FMCG, oil and select auto stocks. The Sensex fell 73.93 points to 29246.33 and the Nifty declined 36.30 points to 8832.80.
The broader markets also lost ground, down 0.2 percent. Declining shares outnumbered advancing ones by a ratio of 1435 to 1104 on the BSE.
Tata Power, ICICI Bank, ITC, NTPC, Wipro, Reliance Industries, Axis Bank, Bajaj Auto and SBI were down 1-2 percent while Tata Steel, M&M, Infosys, HDFC, Maruti, Cipla and TCS gained 1-2 percent.
Bharat Forge gained more than 3 percent after the Kalyani Group announced a defense tie up with Dassault Rafale. Baba Kalyani told CNBC-TV18 that defence and aerospace are a strategic part of the company’s growth programme.
Tata Motors DVR, Jain Irrigation DVR and Future Retail DVR rallied 5-7 percent after S&P BSE indices announced rules for considering DRVs in all BSE indices. They will consider including DVRs in Sensex, BSE 100, BSE 200, BSE 500 when indices are rebalanced in June.
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Posted in: Indian Market Tips
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