Sensex, Nifty off the day's low

The market barometers trimmed losses in mid-afternoon trade. At 14:27 IST, the barometer index, the S&P BSE Sensex, was down 1015.06 points or 3.21% at 30,632.94. The Nifty 50 index was down 277.85 points or 3% at 8,984.

In the broader market, the S&P BSE Mid-Cap index declined 2.39% while the S&P BSE Small-Cap index slipped 2.89%. The decline in both these indices was lower than the decline in the Sensex.

Sellers outpaced buyers. On the BSE, 650 shares rose and 1675 shares fell. A total of 156 shares were unchanged. In Nifty 50 index, only 9 stocks advanced while 41 stocks declined.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee edged lower to 76.835 compared with its previous closing of 76.535.

The yield on 10-year benchmark federal paper rose to 6.212% as compared with 6.209% in the previous trading session.

MCX Gold futures for 5 June 2020 settlement rose 0.94% to Rs 46,144.

In the commodities market, Brent crude for June 2020 settlement was down $3.72 to $21.85 a barrel. The contract fell $2.51 or 8.93% to settle at $25.57 a barrel in the previous trading session.

Buzzing Index:

The Nifty Realty index slipped 3.02% to 183.20, amid profit booking after a steep surge. The index climbed 6.90% in past four sessions.

Prestige Estates Projects (down 6.79%), Brigade Enterprises (down 5.73%), Oberoi Realty (down 5.61%), D B Realty (down 4.81%), Housing Development and Infrastructure (HDIL) (down 4.63%), Peninsula Land (down 4.31%), Anant Raj (down 3.76%), Godrej Properties (down 3.33%), Sunteck Realty (down 3.1%), Phoenix Mills (down 2.61%), Mahindra Lifespace Developers (down 2.46%), DLF (down 2.19%) and Omaxe (down 0.16%) declined.

Stocks in Spotlight:

Mphasis (down 9.14%), Bharat Forge (down 8.63%), NBCC (India) (down 8.42%), Jindal Steel & Power (down 7.90%) and RBL Bank (down 7.07%) were the top mid-cap losers.

Supreme Petrochem (down 12.94%), Multi Commodity Exchange of India (down 10.17%), Jagran Prakashan (down 10.06%), 3I Infotech (down 10%), Hindustan Oil Exploration Co. (down 9.90%) and Gokaldas Exports (down 9.73%) were the top small-cap losers.

Shriram Transport Finance Company slumped 13.72% to Rs 591.30. The company said its board approved issuing redeemable non-convertible debentures/subordinated debentures on private placement basis for purpose of business of the company. The company has sought shareholders' approval for the renewal of limits to issue debentures on private placement basis by the board upto Rs 35,000 crore for the purpose of the business of the company.

JMC Projects (India) tumbled 4.92% to Rs 42.55. The construction company said that as per the directions received from the government, all four road project special purpose entity vehicles (SPVs) of the company have resumed collecting user fee at all toll plazas on National Highways with effect from 20 April 2020.

Bandhan Bank tumbled 9.14% to Rs 196.35. The latest shareholding pattern showed that Caladium Investment, an affiliate of GIC, Singapore's Sovereign Wealth Fund hiked its stake in Bandhan Bank to 4.49% in March quarter from 3.39% in December quarter.

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