EconomyIndia stock market news: Equity indices muted, metal and realty...

India stock market news: Equity indices muted, metal and realty stocks drop

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Mumbai (Maharashtra): Equity benchmark indices were in the negative zone during early hours on Monday with Nifty metal slipping by 3.4 percent.

At 10:15 am, the BSE S&P Sensex was down by 210 points or 0.43 percent at 48,824 while the Nifty 50 slipped by 96 points or 0.66 percent to 14,338.

Most sectoral indices at the National Stock Exchange were in the red with Nifty metal dipping by 3.4 percent, realty by 2.5 percent, pharma by 1.8 percent, and IT by 0.5 per cent.

Among stocks, Hindalco dropped by 4.4 pc on Monday morning to Rs 242.25 per share while Tata Steel cracked by 2.9 percent and JSW Steel by 2.2 percent. The other prominent losers were Tata Motors, Hero MotoCorp, IndusInd Bank, Coal India, and Power Grid Corporation.

However, agrochemicals manufacturer UPL gained by 3.1 percent to Rs 538.80 per share. HDFC Bank, Wipro, Nestle India, Britannia, and Reliance Industries also traded with a positive bias.

Meanwhile, Asian share markets pared early losses as data confirmed China’s economy had bounced back last quarter due to a jump in factory output.

Chinese blue chips edged up 0.4 percent while MSCI’s broadest index of Asia Pacific shares outside Japan trimmed losses and was off 0.2 percent. Japan’s Nikkei slipped 0.8 percent and away from a 30-year high. 

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