Sensex, Nifty Down In Negative Territory On Weak Global Cues
(RTTNews) - The Indian market, which opened on a weak note Thursday morning, tracking global cues, continues to languish in negative territory with several frontline stocks under selling pressure.
Worries about rising inflation, and mounting fears of a global recession amid high interest rates hurt European and the U.S. markets overnight, and the mood in Asian markets remains bearish as well.
The benchmark BSE Sensex, which fell to 58,791.28, is down 149.98points or 0.25 percent at 58,957.21. The broader Nifty index of the National Stock Exchange is down 33.60 points or 0.19 percent at 17,478.65, off the session's low of 17,421.00.
IndusInd Bank is down nearly 4 percent despite reporting a sharp increase in net earnings. The bank reported a 60.5 percent rise in standalone net profit to Rs 1,786.72 crore on a 12.9 percent increase in total income to Rs 10,718.85 crore in the second quarter of this financial year over a year-ago.
Titan Industries, NTPC, State Bank of India and ICICI Bank are down 1 to 1.4 percent. HDFC Bank, HDFC, Axis Bank and UltraTech Cement are also notably lower.
HCL Technologies is climbing nearly 1.5 percent. Nestle, Tata Consultany Services, Wipro, Power Grid Corporation, Hindustan Unilever, Bharti Airtel and Power Grid Corporation are also up in positive territory.
Nestle is gaining 1.25 percent, lifted by an 8 perent increase in net profit in the second quarter.
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