Stock Market update: Sensex, Nifty50 give up key support levels, down over 1% - bank, financials services stocks drag

Stock Market Update: Domestic equity markets tumbled over 1 per cent intraday on Friday. The benchmark indices – Sensex and Nifty50 – gave up their key levels of 60,000 and 17,900. The drag was mainly led by banking and financial services stocks. Auto, FMCG, and Metals stocks too were under pressure as they turned choppy in the afternoon session.

At around 12:40 PM, the BSE Sensex was down 637.45 points or 1.06 per cent to 59,660.55, while Nifty50 was down 188.5 points or 1.05 per cent to 17,767.95. The broader markets followed the benchmark suite as both the Nifty mid and small cap fell by around 1 per cent each.

As man as 10 stocks advanced and 39 declined, while one remained unchanged at around 12:40 PM. IndusInd Bank shares fell most, almost 3.5 per cent, followed by Bajaj twins down between 2.5-3 per cent intraday. Coal India, SBI, Tata Motors, and NTPC each dipped over 2 per cent intraday. 

In the otherwise negative market, Adani Ports shares jumped over 3 per cent, followed by Larsen and Toubro shares up over 1 per cent and Infosys trading around 1 per cent intraday today. While Tech Mahindra, Eicher Motor, Wipro, and HCL Tech gained marginally intraday.

Sectorally, all indices are trading in the red - except Nifty IT, which is up over 0.5 per cent. Nifty Bank and Financial dragged the market most as they fell by around 1.5 per cent, followed by Nifty Auto and FMG each down around 1 per cent intraday.

From the broader markets, IRCTC gains 4 per cent on data monetisation plan; Power Mech hits new high on order win from Adani Group; Tata Chemicals hits new high on healthy outlook and Future Group stocks tumble after lenders plan to sell loans worth Rs 18,850 crore, in an otherwise weak market today.