Sensex down over 100 points, Nifty manages to hold 10,800; IndusInd Bank falls 2%

There was some weakness in the financials space, which weighed on the indices. Automobiles and pharmaceuticals, among others, were the other big gainers. There was a considerable outperformance by the Nifty Midcap segment, gaining almost half a percent. 

At the close of market hours, the Sensex was down 106.41 points or 0.29% at 36106.50, and the Nifty down 33.60 points or 0.31% at 10821.60. The market breadth was negative as 1217 shares advanced, against a decline of 1362 shares, while 153 shares were unchanged.

Tata Motors, NTPC, and Titan were the top gainers, while IndusInd Bank, Kotak Mahindra Bank, and HPCL lost the most.  

Sonata Software acquires stake in Rezopia: Sonata Software North America, Inc. a wholly owned subsidiary of the company, has entered into a definitive agreement with each of other shareholders of Rezopia, Inc., to acquire remaining 40% stake in Rezopia, Inc., a California corporation.

“The rupee is expected to come under pressure as crude oil prices are rising once again in the international market. Further, now focus would shift to India's macroeconomic data. CPI is expected to remain benign. Hence, there is a chance of interest rate cut by the RBI. But political risk is rising for the market. The Budget is expected to be populist after the BJP's debacle in state elections last month. This might put pressure on the fiscal arithmetic. Globally tension has eased somewhat between US and China...but it is early to say anything. There is a sell-off in the global market which may have impact on the Indian market as well. So, overall the rupee is expected to be driven by global factors and the upcoming political factors in the domestic market. In the near term, the rupee is expected to trade in 69.50 to 72 band,” Rushabh Maru, Research Analyst at Anand Rathi Shares and Stock Brokers said in a statement. 

Buzzing: Shares of AGC Networks surged 8.5 percent intraday Thursday after company subsidiary completed the acquisition of Black Box Corporation, a leading digital solutions provider in the US. 

BUZZING STOCK: Share price of Delta Corp fell 2 percent in the early trade on Thursday despite company reported better numbers for the quarter ended December 2018 (Q3FY19).

Company's Q3 profit was up 13 percent to Rs 50.53 crore versus Rs 44.74 crore, revenue increased 27 percent to Rs 205.81 crore versus Rs 162.17 crore, YoY,

Market opens: It is a mildly lower start on the benchmarks on Thursday morning, with the Nifty above 10,800-mark.  

The Sensex is down 49.87 points or 0.14% at 36163.04, and the Nifty down 20.30 points or 0.19% at 10834.90. The market breadth is negative as 312 shares advanced, against a decline of 376 shares, while 37 shares were unchanged.

Consumption and metal names are trading higher, while pain is visible among banks and pharmaceuticals, among others. The Nifty Midcap index is trading flat. 

Tata Motors and NTPC are top gainers, while IndusInd Bank, Axis Bank, Bharti Infratel and HPCL lost the most.  

Market at pre-open: Benchmark indices have opened mixed in pre-opening trade. 

The Sensex is up 52.92 points or 0.15% at 36265.83, and the Nifty down 68.90 points or 0.63% at 10786.30.

The Indian rupee opened flat at at 70.46 per dollar on Thursday against previous close 70.46.

Crude Update: Oil prices fell by 1 percent on Thursday on swelling US supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth.

Asia trades lower: Asian shares began cautiously on Thursday, struggling to rise after a multi-day rally as markets await more news on US-China trade talks that have raised hopes of a deal to avert an all-out trade war.

SGX Nifty: Trends on SGX Nifty indicate a positive opening for the broader index in India, a gain of 29.50 points or 0.27 percent. Nifty futures were trading around 10,905-level on the Singaporean Exchange.

Wall Street extends rally: Wall Street rallied for a fourth session on Wednesday, propelled by Apple, chipmakers and other trade-sensitive stocks after signs of progress in trade talks between the United States and China.