Equities On Low Swing In The Absence Of Fresh Triggers, Tech Mahindra Falls By 1.7%
The BSE S&P Sensex was down by 137 points to 41,421 while the Nifty 50 edged lower by 38 points at 12,218.
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Equity benchmark indices were subdued during early hours on Tuesday, the last trading session of 2019, with experts saying the market is likely to remain range-bound in the absence of any major triggers.
At 10:15 am, the BSE S&P Sensex was down by 137 points to 41,421 while the Nifty 50 edged lower by 38 points at 12,218. Sectoral indices at the National Stock Exchange were mixed with Nifty IT down by 0.6 per cent, private bank by 0.5 per cent and auto by 0.4 per cent. Nifty realty ticked up by 0.25 per cent.
Among stocks, Tech Mahindra fell by 1.76 per cent to Rs 768.95 per share while Wipro slipped by 0.78 per cent. Eicher Motors was down by 0.9 per cent and Hero MotoCorp by 0.8 per cent. The others which lost were IndusInd Bank, Kotak Mahindra Bank and HDFC.
Those which showed marginal gains were Bharti Infratel, Coal India, Dr Reddy's, Hindustan Lever and Britannia.
Meanwhile, Asian shares slipped, echoing falls on Wall Street, as investors locked in gains made since the United States and China reached a preliminary trade deal earlier this month.
MSCI's broadest index of Asia Pacific shares outside Japan was down by 0.39 per cent, its weakest performance since December 4. Hong Kong's Hang Seng dropped by 0.32 per cent.
Meanwhile, markets in Japan and South Korea were closed for a holiday.
Reports said the White House's trade adviser said on Monday that the US-China phase one trade deal will likely be signed in the next week but the confirmation will come from President Donald Trump or the US Trade Representative.