Taking Stock: Nifty below 25,950, Sensex falls 151 pts; IT, pharma, realty drag

About this update from Premier Explosives Limited

Indian benchmark indices remained under pressure on October 28 amid selling seen across the sectors barring metal and banks.Amid mixed global cues, the market opened marginally lower. Despite the initial hour recovery, the benchmark indices traded lower for most part of the session. However, the final hour recovery helped to erase some of the intraday losses.At close, the Sensex was down 150.68 points or 0.18 percent at 84,628.16, and the Nifty 50 was down 29.85 points or 0.11 percent at 25,936.20. BSE Midcap and smallcap indices ended almost flat.Also Read - Currency risk inevitable in global investments, but diversification offers strong hedgeOn the sectoral front, metal and PSU Bank indices rose 1.2 percent each, while IT, pharma, FMCG and realty shed 0.5-1 percent.Bajaj Finserv, Trent, Coal India, Tech Mahindra, ONGC and Nestle India were among top losers on Nifty 50, while top gainers included JSW Steel, Tata Steel, SBI Life Insurance, L&T and HDFC Life.Also Read: IDBI Bank divestment: Centre may soon invite financial bids as IMG set to meet on Oct 31 to finalise processIn stock-specific action, Bata India shares slipped nearly 7 percent intraday after Q2 profit declined 73 percent, Indus Towers shares added 3 percent post Q2 results, Sai Silks (Kalamandir) shares hit 52-week high as Q2 profit jumps 68 percent, JK Tyre and Industries shares jumped 3 percent as Q2 profit zoomed 64 percent, Canara Robeco AMC shares shed 4 percent after Q2 standalone profit slipped.Multi Commodity Exchange of India share price slipped 2 percent as trading was halted for most part for the session, Bondada Engineering shares slipped 7 percent despite better Q2 earnings, Newgen Software Technologies shares gained 10 percent after Q2 profit jumped 64 percent, Premier Explosives shares rose 3.5 percent on order win worth Rs 429.6 crore.Also Read - IIP growth slows to a three-month low of 4% in SeptemberNearly 160 stocks touched their 52-week high on the BSE, including City Union Bank, Tata Steel, JSW Steel, Indian Bank, SBI Life Insurance, Laurus Labs, HBL Engineering, Hindalco Industries, PNB, Federal Bank, Bank of Baroda, Bank of India, SBI, Bharti Airtel, Canara Bank, Paytm, Grasim Industries, Cummins India, among others. Click to View MoreOutlook for October 29Rupak De, Senior Technical Analyst at LKP SecuritiesThe market remained highly volatile on the NSE monthly F&O e...

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