Market update:Indices give up gains
Published On: Wednesday, March 11, 2020 | By: Team KnowMyStock
Benchmark indices were trading volatile today(11th March), with the volatility index, India VIX, surging 7 percent. The S&P BSE Sensex slipped 67 points, to 35,570 levels. Tata Steel and Infosys (both down 3%) were the top laggards in the Sensex pack. On the other hand, Reliance Industries was up 4 percent. The broader Nifty50 index hovered around 10,400 levels, down 64 points, or 0.6 percent. The majority of the Nifty sectoral indices were trading in the green. Nifty Bank, Nifty PSU Bank, and Nifty Private Bank indexes were all up over 1 percent each. On the other hand, the Nifty IT index slipped 2 percent.
In the broader market, the S&P BSE MidCap index was up 148 points, or 1 percent, and the S&P BSE SmallCap index climbed 158 points or 1.24 percent.
Shares of IT companies were under pressure with sector giant Tata Consultancy Services (TCS) and Wipro hitting their respective 52-week lows on the NSE in the early morning trade on concerns over potential impact from COVID-19.
Shares of telecom companies gained on the report that it would take at least six months to evaluate the companies' self-assessment of dues linked to adjusted gross revenue (AGR).
HPCL, BPCL tank over 4% after crude oil prices rise for the second straight day.
RIL had hit a 52-week low of Rs 1,094.95 March 9 owing to a crash in crude oil prices.
today (11th March) at 9.30 AM shares of RIL were trading 4.8 percent higher at Rs 1,166.50 on the BSE.
Tags: market update Sensex
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
