Equity gauges dip, HDFC Bank top loser
Mumbai, Maharashtra: Equity benchmark indices dipped by over half a percent during early hours on Wednesday amid mixed global cues with banking and financial stocks taking a hit.
At 10:15 am, the BSE S&P Sensex was down by 417 points or 0.83 percent at 49,719 while the Nifty 50 edged lower by 91 points or 0.61 percent to 14,754. Sectoral indices at the National Stock Exchange were mixed with Nifty financial service lower by 1.3 percent, private bank by 1 percent, and IT by 0.5 percent. But Nifty metal, PSU bank rose by 1 percent each.
Among stocks, HDFC Bank lost by 3 percent to Rs 1,506.40 per share while home loan lender HDFC was down by 2.8 percent to Rs 2,531. ICICI Bank ticked lower by 1.4 percent, Kotak Mahindra Bank by 0.7 percent, Tech Mahindra by 1.1 percent, and Bajaj Auto by 0.7 percent. However, Tata Motors, Tata Steel, SBI Life, Adani Ports, Hindalco, and Bajaj Finserv traded with a positive bias. Meanwhile, Asian stocks were on track for their first monthly loss since last October even as investors focused on growing signs of a sure-footed global economic recovery Japan's Nikkei was down 0.71 percent while Hong Kong's Hang Seng fell by 0.31 percent. South Korea's Kospi moved up a bit by 0.08 percent.
