The BSE Sensex tanked below the 36,000-level by falling over 124 points in early session today as participants preferred to trim their positions ahead of the Union budget to be presented on Thursday. IT, FMGC, capital goods, healthcare and teck stocks fell in the early hours.
Shares ICICI Bank, Larsen & Toubro, NTPC and Vedanta will be in a close watch ahead of their respective Q3 earnings due later today. Stocks of ICICI Bank declined 1.39% as the banker is scheduled to announce its earning numbers.
The NSE Nifty50 index was trading 28 points down at 11,021, while the BSE Sensex was 119 points down at 35,911 in the late morning hours.
The stocks of ICICI Bank, Tata Consultancy Services, Hindustan Unilever Limited, Infosys, Coal India and ITC have contributed mostly in the Sensex fall. Shares of Havells India, Avanti, Bharat Electronics, and TVS Motors plunged 3 to 5%.
Shares of Hero MotoCorp, Reliance Industries, Tata Motors, Kotak Mahindra Bank, State Banka of India, Adani Ports, and Bharti Airtel come out as the major gainers among Sensex while Coal India, Dr Reddy’s ICICI Bank, HUL, Wipro, TCS, Power Grid and slumped up to 2 percent.