Benchmark indices have slipped marginally into the red this afternoon after hitting new all-time highs earlier in the day amid a choppy trading session. At 1:00 PM, the BSE Sensex was trading at 55,472.55, down 114.71 points, or 0.21 percent, and the NSE Nifty, at 16,503.95, down 58.71 points, or 0.35 percent. Gains in information technology stocks have been offset by losses in select financial names. In the broader markets, the BSE Mid and Small Cap indices are down 0.2 percent each.
On the currency front, the rupee fell 3 paise to 74.27 against the US dollar in early trading, trailing the solid US currency. On the interbank exchange, the rupee opened at 74.23 against the dollar and then declined further to 74.27, registering a 3 paise decline from its previous close amid muted domestic equities.
Of the specific stocks, IndusInd Bank, SBI and Axis Bank each lost about one percent to top the losers list on the BSE.
On the other hand, Tech Mahindra was top winner on the BSE; the stock rose 2.9 percent to Rs 1,408. Other IT stocks also performed well, with HCL Tech, Infosys and TCS each gaining 1-2 percent on the BSE.
Among the stocks in the news, Fiem Industries rose a whopping 20 percent to a record high of Rs 951.80 after the company informed exchanges that it was becoming the sole supplier of some auto parts to Ola Electric Mobility.
And Suven Life Sciences rose a whopping 10.65 percent, reaching an intraday high of Rs 87.80 after the company announced a phase 3 clinical trial of SUVN-502 (Masupirdine), a treatment for agitation and aggression in dementia of the brain. type of Alzheimer’s.
Overall market size turned negative as 955 stocks rose and 2087 fell on the BSE.