Sensex slips 200 pts, Nifty breaks 9900 at open; Just Dial soars 5%
Equity benchmarks opened sharply lower on Wednesday and erased all its previous day's gains, tracking weakness in global peers.
The 30-share BSE Sensex was down 201.91 points at 31,607.64 and the 50-share NSE Nifty fell 56.75 points to 9,895.45.
Nifty Midcap lost 0.7 percent as about three shares declined for every share rising.
Bharat Financial Inclusion, Divis Labs, Adani Enterprises, JP Associates, Adani Power, HCC, Indiabulls Real, DLF, Idea Cellular, Escorts, Ujjivan Financial, M&M Financial, InterGlobe Aviation were down up to 3 percent. However, Just Dial rallied 5 percent as HDFC MF picked up stake in company.
HDFC Bank, ITC, HDFC, IOC, ICICI Bank, TCS and Infosys were leading contributors to Sensex' losses. However, Indiabulls Housing, HCL Technologies, HUL, UltraTech Cement and Asian Paints bucked trend.
Shares of HCL Technologies added 1.5 percent intraday as the company is going to acquire a UK based company.
The company has agreed to buy ETL Factory, a UK based company, which is doing business as Datawave.
ETL has created an innovative data automation platform which enables enterprise customers execute large scale, complex data-migration project at a leaner, faster and smarter way.
Bharat Road Network, the road and highways BOT company, opened its initial public offering for subscription today.
The public issue of up to 2.93 crore equity shares will constitute 34.90 percent of the post issue paid-up equity share capital.
The company is expected to raise Rs 571.35 crore at Rs 195 per share (the lower end of price band) and Rs 600.65 crore at Rs 205 per share, the higher end of price band.The issue will close on September 8.
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