Nifty trades lower; ONGC, ICICI Bk, NTPC, ITC, SAIL dip

At 13:30 hours IST, the Nifty was trading lower amid volatility. Selling continued in banking and financial, metal, power, FMCG, cement and select auto stocks. However, buying was seen in Reliance Industries, Bharti, Wipro, L&T, Infosys, JSPL, Tata Motors, Cipla, PNB and Ranbaxy Labs.

The BSE Sensex was down 98 points at 16254, and the Nifty was down 26 points at 4820. About 1283 shares have advanced, 1667 shares declined, and 810 shares are unchanged. BSE Midcap & Smallcap had underperformed Sensex & were down 0.72% & 1.135 respectively. Banking, realty and metal stocks continued to reel under pressure. The Nifty November future was trading at 10 points premium.

Top gainer on the Sensex was Bharti Airtel up 4.58%. Tata Motors was up 2.39% while L&T & Wipro was above 2% each. Thinksoft Global which listed on Monday was up 7%. The stock has gained more than 60% post listing in 3 days.

In the midcap space, BF Utilities, Balrampur Chini, Kansai Nerolac, Deccan Chronicle and Ipca Labs were up 5-8%. Everest Kanto was down 11% post company reported loss in its Q2 earnings. KGN Industries, Sintex India, IDBI Bank & Apollo Tyres fell 3-5%.

In the smallcap space, Hexaware Tech, Oil Country, Lakshmi Machine, KRBL & Agro Tech Foods moved up 6-10% while Manappuram, Panyam Cements, Arshiya Intl, Resurgere Mines & Shristi Infra declined 5-12%.

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