Sensex, Nifty remain in negative territory; Infosys, TCS trade higher

Last Updated: Thu, Nov 24, 2016 12:01 hrs

As selling continues at several counters, the market, which opened lower on weak global cues and on concerns about near term economic growth seeing a likely slowdown, continues to languish in negative territory around noon.

The rupee's fall to a fresh nine-month low is triggering some buying in IT majors.

At 24,943.50, the Sensex is now down 108.31 points or 0.41% from its previous close. The Nifty50 of the National Stock Exchange is down 39.30 points or 0.49% at 7994.00.

Among Sensex stocks, Tata Motors is down 3.2%. NTPC is trading 2.4% down and ICICI Bank is down 1.75%. Reliance Industries, Adani Ports, GAIL India and Axis Bank are down 1.2% - 1.6%.

Bajaj Auto is gaining more than 1.5%. Infosys is up 1.3% and Tata Consultancy Services is up 1.1%, while State Bank of India is adding 1%. Asian Paints, Wipro and Coal India are up marginally.

Nifty stocks Tata Motor DVR, Zee Entertainment Enterprises, Eicher Motors, Kotak Bank, Aurobindo Pharma and Idea Cellular are down 1% - 3%. Bosch, BPCL and Grasim Industries are also weak.

Bank of Baroda is up 2.1%, with traders picking up the stock after previous session's decline. Tech Mahindra and Hindalco are up 1.85% and 1.7%, respectively. UltraTech Cement, Ambuja Cements and ACC are up with modest gains.

Seamec Limited shares are up 1.5% on positive reaction to an announcement from the company that it has entered into a contract for the charter hire of vessel “Revelation” with Resolve Salvage and Fire (Asia) for undertaking a job in West Coast of India. The value of charter during firm period is $244,000.

Transformers and Rectifiers is up 1.4% after the company announced that it has bagged an order worth Rs 96 crore from Adani Group to supply 232 units of inverter duty transformers and 19 units of power transformers upto 110 kV class for the group's solar power project.

More from Sify: