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Sensex, Nifty hit fresh intraday low

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Key indices further extended losses and hit fresh intraday low in afternoon trade. At 13:29 IST, the barometer index, the S&P BSE Sensex, was down 366.57 points or 0.93% at 39,085.50. The Nifty 50 index was down 111.25 points or 0.94% at 11,712.05.

Trading for the day began on a negative note. Selling picked up pace as the session advanced.

Among secondary barometers, the BSE Mid-Cap index was down 0.88%. The BSE Small-Cap index was down 0.91%.

The market breadth was weak. On BSE, 630 shares advanced and 1712 shares declined. A total of 138 shares were unchanged.

Tata Steel (down 3.98%), Vedanta (down 3.07%), Axis Bank (down 2.41%), Tata Motors (down 2.13%) and Reliance Industries (down 1.96%), were the major Sensex losers.

IT stocks were mixed. Hexaware Technologies (up 2.77%), MphasiS (up 1.96%), Larsen & Toubro Infotech (up 0.90%), Oracle Financial Services Software (up 0.55%), Infosys (up 0.42%) and NIIT Technologies (up 0.18%), edged higher.

HCL Technologies (down 0.61%), Tech Mahindra (down 0.51%) MindTree (down 0.24%), Persistent Systems (down 0.17%) and TCS (down 0.15%), edged lower.

Laurus Labs was up 0.68%. Laurus Labs announced after market hours on Friday, 14 June 2019, that the US Food and Drug Administration (USFDA) completed inspection of Active Pharmaceutical Ingredient (API) facilities in units 1 & 3 at Parawada, Visakhapatnam, Andhra Pradesh, with two observations. The company stated that the observations are procedural in nature. It was a regular surveillance audit by USFDA, and no data integrity issues were observed in the inspection.

On the macro front, India's exports were $29.99 billion in May 2019, as compared to $28.86 billion in May 2018, showing a growth of 3.93%. In rupee terms, exports were Rs 2.09 lakh crore in May 2019, as compared to Rs 1.94 lakh crore in May 2018, registering a growth of 7.36%. Imports were $45.35 billion (Rs 3.16 lakh crore) in May 2019, which was 4.31% higher in dollar terms and 7.76% higher in rupee terms over imports of $43.48 billion (Rs 2.93 lakh crore) in May 2018. The data was announced by the government after market hours on Friday, 14 June 2019.

Overseas, European shares were trading higher on Monday. Asian shares were mixed. Investors were cautious ahead of a closely-watched Federal Reserve meeting, while political tensions in the Middle East and Hong Kong kept risk-appetite in check.

US stocks ended lower on Friday, 14 June 2019, as investors turned cautious before this week's Fed meeting, while a warning from Broadcom on slowing demand weighed on chipmakers and added to U.S.-China trade worries.

In economic data, industrial production rose 0.4% in May, a solid and broad-based gain helped by increased production of pickup trucks and cars, the Federal Reserve said Friday. It was the strongest monthly rise in six months

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, June 17 2019. 13:11 IST