Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessMarkets

Sensex volatile, Mid & Smallcap outperform; Axis Bank loses 4%

Axis Bank was the biggest loser, down nearly 4 percent followed by ITC, Lupin, ICICI Bank, HUL and Tata Motors whereas BHEL gained the most, up 2 percent. Reliance Industries, HDFC Bank, TCS, ONGC and HDFC were other gainers.

September 23, 2016 / 12:42 PM IST

Moneycontrol Bureau12:40 pm Europe: European stocks opened lower as investors awaited the latest data on manufacturing and services activity in the euro zone.

European markets will be keeping a close eye on the flash manufacturing and services purchasing manager's index (PMI) for the euro zone in September for the latest indicator on the region's heath.

In Asia, markets were mixed. Japanese stocks were trading lower after returning from a one-day holiday on Thursday, having rallied on Wednesday when the Bank of Japan (BOJ) announced an overhaul of its monetary policy framework.12:35 pm Interview: The impact of Brexit will be temporary on Tech Mahindra, says the company's Chief Executive Officer CP Gurnani. In the long run, it is going to be beneficial.Tech Mahindra's communication services business is showing recovery and growth, says Gurnani. He adds that he continues to remain bullish on the vertical.12:20 pm Exports: The country's largest carmaker Maruti Suzuki today announced crossing the milestone of 15 lakh vehicles in its cumulative exports.

"These vehicles have been exported to over 100 countries including Europe, Latin America and Africa. Early this year, the company's premium hatchback Baleno, manufactured exclusively in India, became the first car to be exported from India to Japan," the company said in a statement.

MSI had started exports to Europe in 1987-88, when a small number of cars were sent to Hungary.

"Thereafter, exports have grown at a steady pace, as new models and markets were added from time to time. Although exports business is inherently subject to economic and policy changes in the destination countries, the company has been able to maintain an upward trend in exports over the years," it said.Also read - Auto component maker GNA Axles to list shares on September 26

12:00 pm Market check: Equity benchmarks remained volatile in noon trade while the broader markets outperformed with the BSE Midcap and Smallcap indices rising 0.7 percent each.

The 30-share BSE Sensex was down 8.48 points at 28764.65 and the 50-share NSE Nifty declined 1.10 points to 8866.35.

Axis Bank was the biggest loser, down nearly 4 percent followed by ITC, Lupin, ICICI Bank, HUL and Tata Motors whereas BHEL gained the most, up 2 percent. Reliance Industries, HDFC Bank, TCS, ONGC and HDFC were other gainers.

Oil prices eased, pulled down by a technical sell-off following two sessions of strong rises and on caution ahead of a gathering of OPEC ministers next week in Algeria to discuss possible production cooperation to rein in global oversupply.

US West Texas Intermediate (WTI) crude oil futures were trading at USD 45.97 per barrel, down 0.76 percent, from their previous close. International Brent crude oil futures were down 0.52 percent at USD 47.40 a barrel.

first published: Sep 23, 2016 12:00 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347