Sensex slides 339 pts, Nifty below 15,750

The key equity indices traded near the day's low in the morning trade amid negative global cues. The Nifty hovered below the 15,750 level. Auto, oil & gas and PSU banks stocks advanced while consumer durables, realty and IT stocks corrected.

At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 339.47 points or 0.64% to 52,821.81. The Nifty 50 index declined 99.05 points or 0.63% to 15,733.

In the broader market, the S&P BSE Mid-Cap index fell 0.63% while the S&P BSE Small-Cap index lost 0.66%.

The market breadth was negative. On the BSE, 1,208 shares rose and 1,669 shares fell. A total of 137shares were unchanged.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,278.42 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,184.47 crore in the Indian equity market on 27 June, provisional data showed.

Buzzing Index:

The Nifty Consumer Durable index fell 1.94% to 22,803.95, snapping its three day gaining streak. The index advanced 2.51% in three trading sessions.

Among the components of the Nifty Consumer Durables index, Titan Company (down 3.51%), Kajaria Ceramics (down 2.24%), Orient Electric (down 1.95%), Voltas (down 1.88%) and Crompton Greaves Consumer Electricals (down 1.6%) were the top losers.

Stocks in Spotlight:

Star Health rose 0.65% to Rs 518.15. The insurer has signed a corporate agency agreement with IDFC FIRST Bank for distribution of its health insurance solutions. Under this strategic agreement, Star Health and Allied Insurance Company will offer its best in class health insurance products to the Bank's customers using IDFC FIRST Bank's state of the art digital platform and its wide distribution network. IDFC FIRST Bank has a digital first approach and serves customers through its net banking platform and mobile app, which complement its nationwide branches, ATMs and loan centres.

Glenmark Pharmaceuticals fell 1.44% to Rs 380.90 after the pharma company said that it's fully owned subsidiary Glenmark Pharmaceuticals Inc., USA, has acquired the approved ANDAs of four over-the-counter (OTC) drugs from Wockhardt. The acquired abbreviated new drug applications (ANDAs) are Famotidine Tablets USP, 10 mg and 20 mg (OTC), Cetirizine Hydrochloride Tablets USP, 5 mg and 10 mg (OTC), Lansoprazole Delayed-Release Capsules USP, 15 mg (OTC) and Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC).

Brigade Enterprises rose 2.95% to Rs 453.60 after the company announced that the Brigade group has signed a joint development agreement (JDA) to develop around 2.1 million square feet of residential apartments in Chennai. The land, located at Perumbakkam, just off OMR Sholinganallur junction, is spread over 15 acres and will be developed as a large residential township. Perumbakkam is one of the fast-emerging residential hubs in Chennai, witnessing increasing infrastructure development recently.

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