Sensex down 23 points; ITC, ICICI Bank trade weak

Last Updated: Wed, Oct 19, 2016 14:32 hrs

After a sharp setback that pushed the Sensex down by over 125 points earlier this afternoon, the market has staged a recovery with select stocks finding some good support at lower levels.

Still, with global cues not any significantly encouraging, investors are largely staying away, looking for some clear signals to emerge. Asian markets mostly closed higher, but buying interest was subdued in most of the markets. Major European markets are trading slightly weak.

The Sensex is now down 22.55 points or 0.01% at 28,028.33. The Nifty50 is up 3.15 points or 0.04% at 8681.05.

BHEL is trading 4.2% up. Wipro, Idea Cellular, Tata Power, Lupin, Power Grid Corporation, GAIL India and Bharti Infratel are up 2% - 3%.

Adani Ports, Sun Pharmaceutical Industries, NTPC, Reliance Industries, Cipla, Tech Mahindra, ONGC, Axis Bank, BPCL, Bharti Airtel, Grasim Industries, Bajaj Auto and Infosys are also trading higher.

ITC and ICICI Bank are down 2% and 1.8%, respectively. Hero Motocorp, Zee Entertainment Enterprises, HDFC, Tata Motors, Hindalco, State Bank of India and Hindustan Unilever are lower by 0.5% - 1%.

Havells India is trading 4% down. The company reported a 21.97% increase in net profit to Rs 145.79 crore on 9.8% rise in total income to Rs 1477.54 crore in the September 2016 quarter, over the corresponding quarter last year. The net profit was boosted by 158.16% surge in other income to Rs 25.30 crore in the second quarter.

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