Nifty, Sensex Open Lower; TechMahindra, Coffeeday, Axis Bank Fall

Nifty, Sensex Open Lower; TechMahindra, Coffeeday, Axis Bank Fall

Domestic stock benchmark indices have opened Wednesday’s trading on a lower note, led by weak global signals.

Meanwhile the Indian rupee opened slightly lower at 68.90/USD today against previous close 68.86/USD.

On the Commodity space, the Crude prices rose for a 5th day on Wednesday, buoyed by a bigger fall in US inventories.

At 10am. The BSE Sensex slipped 92-pts to 37,216-level with TechMahindra, Axis Bank, HCL Tech and TCS being the top losers. The Nifty also slumped 26-pts at 11059-level with major gains led by Yes bank, IndusInd bank, Indiabull Housing, SunPharma and JSW Steel.

Among sectoral indices on the NSE, Nifty auto, Metal and PSU Bank were witnessing buying force, whereas Nifty IT, Media and Realty were seeing selling pressure, with maximum fall in Nifty Realty which is down by 2.09% led by losses in Indiabull Real Estate, DLF and SunTech, down by 3 to 5.88pc in range.

Among buzzing stocks, Coffee Day Enterprises (Coffeeday) slipped another 20pc fall to to hit the share 52-week low after the Company’s missing founder founder confirmed dead.

Shares of TechMahinda falls 3.17pc at Rs619.95, despite posting 6.8pc increase in net profit to Rs959.3-Cr, while shares of Hero Moto Corp rose 2pc at Rs2303.70 per share after posting strong Q1 earnings.

Shares of Axis Bank slips 3.55pc after reporting earning reports.

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