Sensex gives up 50,000, Nifty below 14,800, indices trade at day’s lows; RIL, HDFC Bank fall

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Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading at day’s lows on Monday. BSE Sensex was hovering around 49,950, while the Nifty 50 gave up the 14,800 level. The top BSE Sensex losers were Housing Development Finance Corporation (HDFC), HDFC Bank, State Bank of India (SBI), Kotak Mahindra Bank, Reliance Industries Ltd (RIL). On the flip side, ONGC shares gained the most, rising over 1 per cent. Power Grid Corporation of India, Maruti Suzuki, Tech Mahindra, Asian Paints were among the top index gainers. All the Nifty sectoral indices were trading in the red today. Nifty Financial Services, Nifty Metal, and Nifty Bank indices were down over one per cent.

Shares of MTAR Technologies listed on the stock exchanges today at a strong premium over its IPO price, despite the benchmark indices plummeting. MTAR Technologies began trading at Rs 1,063.9 per share, an 85% premium over the issue price of Rs 575 apiece.

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