 "Vedanta, HDFC among top Sensex losers in noon deals")
Markets continued to trade weak in noon deals with the benchmark indices, the S&P BSE Sensex and the CNX Nifty slipping 0.6% each to 26,435 and 7,968 levels around 1:30pm led by a fall in metal and financial stocks.
Weakness was also visible in the broader markets with the S&P BSE Mid-cap index and the S&P BSE Small-cap indices losing around 0.4% each.
Among the S&P BSE Sensex counters, Vedanta Ltd was the top loser, slipping 2.5% to Rs 176 levels. HDFC, Tata Steel, BHEL, Dr Reddy’s Laboratories, Axis Bank, ONGC and ICICI Bank also lost in the range of 1% and 2.3%.
On the other hand, Coal India, Tata Power, GAIL India, Hindalco, Mahindra & Mahindra and Infosys moved up 0.2% - 0.7%.
METAL INDEX AT 52-WEEK LOW
Shares of metal companies were under pressure with most of the stocks quoting at their 52-week lows on the NSE as Chinese demand has failed to pick up yet despite stimulus measures by the biggest consumer. CLICK HERE FOR A DETAILED REPORT
Tata Steel, Hindalco Industries, JSW Steel and Steel Authority of India (SAIL) have touched their respective 52-week lows during intra-day trade, while Vedanta, Tata Sponge Iron, Jindal Steel & Power (JSPL) and National Aluminium Company (Nalco) are trading nears to their 52-week low on the NSE.
ECONOMIC NEWS
In other economic news, merchandise exports in May contracted 20.19% to $22.34 billion versus $28 billion a year ago in the same month. Exports registered a bigger fall in May as against April when it contracted 13.96%, data show.
Total exports in the first two months of the financial year through May also contracted 17.21% at $44.40 billion compared with $53.63 billion in the corresponding period of last year, according to data released by the ministry of commerce and industry on Tuesday.
Weakness was also visible in the broader markets with the S&P BSE Mid-cap index and the S&P BSE Small-cap indices losing around 0.4% each.
Among the S&P BSE Sensex counters, Vedanta Ltd was the top loser, slipping 2.5% to Rs 176 levels. HDFC, Tata Steel, BHEL, Dr Reddy’s Laboratories, Axis Bank, ONGC and ICICI Bank also lost in the range of 1% and 2.3%.
On the other hand, Coal India, Tata Power, GAIL India, Hindalco, Mahindra & Mahindra and Infosys moved up 0.2% - 0.7%.
METAL INDEX AT 52-WEEK LOW
Shares of metal companies were under pressure with most of the stocks quoting at their 52-week lows on the NSE as Chinese demand has failed to pick up yet despite stimulus measures by the biggest consumer. CLICK HERE FOR A DETAILED REPORT
Tata Steel, Hindalco Industries, JSW Steel and Steel Authority of India (SAIL) have touched their respective 52-week lows during intra-day trade, while Vedanta, Tata Sponge Iron, Jindal Steel & Power (JSPL) and National Aluminium Company (Nalco) are trading nears to their 52-week low on the NSE.
ECONOMIC NEWS
In other economic news, merchandise exports in May contracted 20.19% to $22.34 billion versus $28 billion a year ago in the same month. Exports registered a bigger fall in May as against April when it contracted 13.96%, data show.
Total exports in the first two months of the financial year through May also contracted 17.21% at $44.40 billion compared with $53.63 billion in the corresponding period of last year, according to data released by the ministry of commerce and industry on Tuesday.