The benchmark indices have extended their losses in noon trading thanks to selling pressure in information technology stocks. At 2:21 pm, the BSE Sensex is trading at 59,081.05, lower by 1000.50 points or 1.66 per cent and therefore the NSE Nifty is at 17,584.80, down 272.25 points or 1.53 per cent. The broader markets also are trading weak, with the BSE Midcap index and BSE Smallcap index shedding around 1 per cent each.
Asian shares are trading mixed as investors were concerned over China Evergrande Group’s debt crisis and a widening power shortage in China.
In the currency market, the rupee appreciated 8 paise to 73.75 against the US dollar in early trading, tracking positive domestic equities. At the interbank exchange , the rupee opened at 73.79 against the dollar and edged higher to 73.75 thereafter.
On the stock-specific front, Bharti Airtel has dived nearly 4 per cent to ₹ 696 to the losers list on the BSE. Information technology stocks still trade weak, with HCL, Infosys and Tech Mahindra losing 1-3 per cent each on the BSE. Bajaj Finance and Bajaj Finserv are the opposite significant losers within the BSE pack.
On the opposite hand, power stocks are trading firm, with NTPC and Powergrid gaining around 5 per cent each on the BSE. Titan, Reliance Industries and Maruti Suzuki are the opposite significant gainers within the Sensex pack.
Among stocks within the news, BPCL shares gained quite 1 per cent on the BSE after the country’s second largest fuel retailer announced plans to pump in ₹ 1 lakh crore into petrochemicals, renewables and electric mobility during subsequent five years.
BHEL soared nearly 7 per cent after company bagged an order from Goa Shipyard for warship gun mount.
