Sensex, Nifty marginally lower amid volatility; Midcap shines
Equity benchmarks traded marginally lower on profit booking while the broader markets outperformed with the BSE Midcap rising 0.8 percent.
The 30-share BSE Sensex was down 74.70 points at 28133.92 and the 50-share NSE Nifty fell 10.90 points to 8655.40. About 1054 shares advanced against 741 declining shares on the BSE.
ICICI Bank fell more than 2 percent ahead of Q1 earnings. A CNBC-TV18 poll expects the bank to report 28 percent decline in profit on yearly basis.
L&T too was down around a percent as investors will closely watch company's FY17 guidance due later today. HDFC Bank, HDFC, Infosys, Reliance Industries, Bharti Airtel and TCS were losers while ITC, Axis Bank, Bajaj Auto, Lupin, Sun Pharma and Tata Motors supported the market.
The Sensex was down 10.22 points at 28198.40 and the Nifty declined 2.75 points at 8663.55. Axis Bank, L&T, Tata Steel, Adani Ports, Coal India, Eicher Motors, Bosch, Tata Power and Tata Steel were early gainers while BHEL, ICICI Bank, Bharti Airtel, NTPC, SBI, Bharti Infratel and ACC were losers.
The Indian rupee opened flat at 67.04 per dollar against previous close 67.04.