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Wednesday, May 22, 2019   
Asian Paints  1366.75    (0.60%)
 
Axis Bank  779.30    (0.80%)
 
Bajaj Auto  3049.70    (2.31%)
 
Bajaj Fin.  3447.70    (0.44%)
 
Bharti Airtel  335.05    (1.28%)
 
Coal India  240.30    (1.26%)
 
H D F C  2140.60    (1.25%)
 
HCL Technologi...  1059.20    (0.21%)
 
HDFC Bank  2405.10    (0.05%)
 
Hero Motocorp  2698.80    (1.58%)
 
Hind. Unilever  1766.15    (-0.97%)
 
ICICI Bank  405.50    (1.29%)
 
IndusInd Bank  1517.55    (4.84%)
 
Infosys  709.20    (0.00%)
 
ITC  299.55    (-1.88%)
 
Kotak Mah. Ban...  1495.50    (0.56%)
 
Larsen & Toubr...  1460.55    (0.85%)
 
M & M  640.95    (0.34%)
 
Maruti Suzuki  6904.10    (0.68%)
 
NTPC  129.60    (0.90%)
 
O N G C  176.55    (1.29%)
 
Power Grid Cor...  182.10    (-1.03%)
 
Reliance Inds.  1340.70    (0.07%)
 
St Bk of India  340.85    (0.98%)
 
Sun Pharma.Ind...  420.65    (2.92%)
 
Tata Motors  179.45    (1.61%)
 
Tata Motors-DV...  85.35    (2.71%)
 
Tata Steel  473.70    (0.04%)
 
TCS  2082.75    (-1.25%)
 
Vedanta  166.45    (0.60%)
 
Yes Bank  137.70    (-2.34%)
 
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Mid Session Commentary
You are here : Equity | News | Mid Session Commentary
Barometers recover; power sector shares tumble
(14:27, 15 May 2019)

Key equity barometers firmed up once again in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 139.67 points or 0.37% at 37,458.20. The Nifty 50 index was up 44.80 points or 0.40% at 11,266.85.

Indices opened higher and hit fresh intraday high in morning trade. Gains were supported by recovery in other global stock markets. Benchmarks held firm near day's high in mid-morning trade. Indices briefly slipped into the red in afternoon trade.

Among secondary barometers, the BSE Mid-Cap index was down 0.14%. The BSE Small-Cap index was up 0.12%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1149 shares rose and 1279 shares fell. A total of 182 shares were unchanged.

Power sector shares tumbled. Jaiprakash Power Ventures (down 5%), Adani Power (down 3.92%), Reliance Power (down 2.49%), Reliance Infrastructure (down 1.76%), GMR Infrastructure (down 1.58%), Tata Power (down 1.43%), NTPC (down 1.16%), CESC (down 0.52%) and JSW Energy (down 0.07%), edged lower. NHPC (up 0.22%) and Torrent Power (up 1.67%), edgede higher.

State-run Coal India was down 1.38%. State-run Power Grid Corporation of India was down 0.3%.

Banks shares were mixed. Among private sector banks, Yes Bank (down 6.12%), Axis Bank (down 0.37%), IndusInd Bank (down 0.2%), City Union Bank (down 0.15%) and Federal Bank (down 0.15%), edged lower. ICICI Bank (up 0.30%), HDFC Bank (up 0.50%), Kotak Mahindra Bank (up 1.24%) and RBL Bank (up 1.49%), edged higher.

Among public sector banks, Union Bank of India (down 9.15%), UCO Bank (down 4.19%), IDBI Bank (down 4.13%), Bank of India (down 2.41%), United Bank of India (down 2.02%), Syndicate Bank (down 1.45%), Punjab & Sind Bank (down 1.12%), Corporation Bank (down 0.78%), Bank of Baroda (down 0.55%) and Canara Bank (down 0.36%), edged lower. Punjab National Bank (up 0.3%), Bank of Maharashtra (up 0.33%), State Bank of India (up 0.41%), Indian Bank (up 0.77%), Allahabad Bank (up 1.29%), Central Bank of India (up 1.44%) and Andhra Bank (up 2.04%), edged higher.

Meanwhile, the southwest monsoon is likely to make its onset over the Indian coast around 4 June 2019, private weather forecasting agency Skymet said on Tuesday. The 4 June prediction comes with an error margin of two days.

Overseas, European stocks edged lower on Wednesday as the rebound in global shares struggled to maintain its momentum. Asian shares ended mostly higher Wednesday, following a recent slump amid escalating tensions on the US-China trade front.

Growth in China's industrial output for April increased 5.4% year-on-year from a 4-1/2 year high in March.

US stocks advanced on Tuesday, paring heavy losses sparked by a raging US-China trade war over the past week. US President Donald Trump on Tuesday called the escalating dispute with China a little squabble but said Washington was still considering extending tariffs to another $300 billion worth of Chinese merchandise.

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