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Sensex again down by 150 points in early trade

25 Sep 2018 : 01:27 Comments: 0 Views: 
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Share price of Infosys rose 1 percent after Infosys Public Services Inc (IPS) has been awarded a CAD USD 80.3 million contract by Public Services and Procurement Canada (PSPC) to modernize and automate their procurement processes.

IPS is working with Ernst & Young LLP (EY) and SAP Canada Inc. (SAP) to digitize PSPC procurement system through the implementation and management of a cloud-based electronic procurement solution.

Selling pressure has hit the market within the first fifteen minutes of trade. The Sensex has now extended losses to over 100 points, while the Nifty is hovering below 10,950-mark.

A weaker rupee and high crude prices are weighing on financials space, while non-banking financial companies (NBFCs) have also continued with their bear streak. Banks, automobiles, FMCG and metal names are the top losers among all sectoral indices, while pharmaceuticals are the big gainers. The Nifty IT index is trading marginally higher.

The Sensex is down 106.99 points or 0.29% at 36198.03, while the Nifty is down 36.70 points or 0.33% at 10930.70. The market breadth is negative as 486 shares advanced, against a decline of 964 shares, while 65 shares were unchanged.

Yes Bank and ONGC are the top gainers, while Bharti Airtel, Power Grid, Indiabulls Housing and Bharti Airtel have lost the most.

Syngene International on Tuesday announced that Manoj Nerurkar, Chief Operating Officer, will step down from his role with effect from October 1, 2018. The company informed about this in a filing with the exchanges. Here is a look at how the stock is reacting in trade so far.

It is a negative start to the market on Tuesday, with the Nifty beginning 14 points lower around 10,950-mark. The Sensex is trading flat.

The Sensex is down 6.16 points or 0.02% at 36298.86, and the Nifty down 14.00 points or 0.13% at 10953.40. The market breadth is narrow as 300 shares advanced, against a decline of 227 shares, while 49 shares are unchanged.

Among sectors, banking names have taken a hit, along with automobiles and metal names. Pharmaceuticals are trading in the green, while IT names are trading flat, amid a weak rupee.

HDFC and Yes Bank are the top gainers, while Power Grid, ICICI Bank, Indiabulls Housing and Bajaj Finance have lost the most.

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