On Tuesday, the Sensex and Nifty fell 0.85% and 0.63% respectively to snap a six-day winning runDomestic stock markets started Wednesday's session on a positive note with the S-P BSE Sensex index opening 100 points higher and the broader NSE Nifty benchmark starting the day 3.80 points shy of 11,600,a day after the indices broke a six-day winning run.
The gains were however short-lived with the Sensex falling as much as 95.99 points to hit 38,867.85 on the downside in the first few minutes of trade, and the Nifty sliding to as low as 11,556.50, down31.85 points from its previous close.
Losses in banking and automobile stocks pulled the markets lower however gains in information technology shares provided some support.Analysts awaited more large cap earnings for cues.Sensex Up 126 Points, Nifty At 11,599; HDFC, Reliance Industries, Infosys Push Markets HigherAt 10:09 am, the Sensex traded 125.70 points - or 0.32 per cent - higher at 39,089.54 and the Nifty was up 10.95 points at 11,599.30.StockContribution to Sensex in pointsHDFC33.16RELIANCE29.49INFY23.56ICICIBANK19.29SBIN18.36AXISBANK18.05TCS17.68POWERGRID-3.89M-M-3.9ONGC-3.97INDUSINDBK-7.4HINDUNILVR-8.73KOTAKBANK-15.4LT-16.43HDFC, Reliance Industries and Infosys contributed 86.21 points to the Sensex at the time.Larsen - Toubro (L-T) Shares Decline Ahead Of Q2 EarningsLarsen - Toubro sharesfell as much as 1.63 per cent to Rs1,418.45 apiece on the BSE, ahead of the earnings announcement by the engineering conglomerate.At 10:03 am, the L-T stock was down 1.20 per cent at Rs 1,424.55apiece on the exchange, as against a flat Sensex.IT Stocks Buck TrendSeven out of the 11 sectoral indices on the National Stock Exchange (NSE) traded in the negative zone, with the IT stocks bucking the trend.
IndexChangeNiftyIT+0.56%Nifty Pharma+0.11%Nifty PSU Bank+0.11%Nifty Fast Moving Consumer Goods+0.02%NiftyFinancial Service-0.04%Nifty Auto-0.31%Nifty Bank-0.45%Nifty Metal-0.45%Nifty Private Bank-0.66%Nifty Realty-0.76%Nifty Media-1.80%Infosys Shares Edge Higher After Falling Over 4% In Early TradeInfosys shares edged higher after falling as much as 4.40 per cent to Rs615.00 apiece on the BSE.
At 9:46 am, the Infosys stock was up 0.81 per cent at Rs 648.50apiece on the bourse, outperforming the benchmark Sensex index which was flat at 38,964.31.Sensex Down Over 50 Points, Nifty At 11,566; Banking Stocks Lead LossesAt 9:32 am, the Sensex traded 56.55 points - or 0.15 per cent - lower at 38,907.29 while the Nifty was at 11,566.40, down 21.95 points - or 0.19 per cent - from its previous close.Top losers on the 50-scrip index at the time were Yes Bank, Adani Ports, Tata Motors, Zee Entertainment and Bharti Airtel, trading between 1.63 per cent and 4.63 per cent lower.
Infosys, Kotak Mahindra Bank and HDFC Bank were the top drags on Sensex.Sensex Opens 100 Points Higher, Nifty Starts Day At 11,596The stock markets started the day with mild gains, with the Sensex opening 100 points higher at 39,063.84.
The Nifty started the session at 11,596.20, up 7.85 points from its previous close.Sensex, Nifty Move Higher In Pre-Open MarketAt 9:04 am, the Sensex was up 155.69 points - or 0.40 per cent - at 39,119.53 in the pre-opening session, while the broader NSE Nifty benchmark was up 37.60 points - or 0.32 per cent - at 11,625.95.Infosys American Depositary Shares Down 3%Infosys American Depositary shares fell 3.01 per cent to end at $9.01 in the US overnight, a day after registering their worst fall since 2013.On the BSE, Infosys shares had nosedived as much as 16.86 on Tuesday before settling at Rs.
643.30, down 16.21 compared with the previous close.
That wiped out investors' wealth worth nearly Rs.
53,000 crore.
(What led to sharp fall in Infosys shares on Tuesday)Axis Bank Shares In Focus TodayAxis Bank shares will be in focus on Wednesday, a day after the private sector lender reported a surprise loss for the quarter ended September 30.In a regulatory filing after market hours on Tuesday, Axis Bank said its net loss stood at Rs 112 crore hurt by a one-off tax expense of Rs 2,138 crore ($301.22 million), as against a net profit of Rs 790 crore in the corresponding period a year ago.Sensex, Nifty Snapped Six-Day Winning Streak On TuesdayOn Tuesday, the Sensex index ended 334.54 points - or 0.85 per cent - lower at 38,963.84 and the broader Nifty benchmark settled at 11,588.35, down 73.50 - or 0.63 per cent - from its previous close, after gaining 3.74 per cent and 3.80 per cent respectively in the past six sessions.Asian Markets Down Following Wall StreetEquities in other Asian markets slipped, with MSCI's broadest index of Asia-Pacific shares outside Japan falling 0.5 per cent and Japan's Nikkei 225 index almost flat after having fallen as much as 0.4 per cent, following a 0.36 per cent fall index in the S-P 500 in the US overnight.SGX Nifty Futures Indicate Flat Opening For Domestic MarketsDomestic stock markets are likely to start Wednesday's session on a flat note a day after benchmark indices S-P BSE Sensex and NSE Nifty snapped a six-day winning streak.
At 8:36 am, the Singapore Exchange (SGX) Nifty futures traded 4.00 points down at 11,614.00.The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty index in India.