Share Market News: Sensex, Nifty decline amid weak global cues; Yes Bank, UCO Bank, Suzlon most active

Share Market Updates Today: Indian equity benchmarks traded lower in early deals on Friday, taking cues from the global markets. Investor sentiment got dampened by recession fears in the US and hawkish commentary from major central banks. Following the US Federal Reserve, both the Bank of England and European Central Bank (ECB) raised rates by half a percentage point each and delivered hawkish commentary, hinting at a prolonged rate-hike cycle.

Back home, the 30-share BSE Sensex fell 303 points or 0.49 per cent to trade at 61,496, while the broader NSE Nifty moved 112 points or 0.61 per cent higher to trade at 18,303. Nifty futures on the Singapore Exchange quoted 60 points, or 0.33 per cent, lower at 18,399.50, hinting at a weak start for the domestic market on Friday.

HCL Technologies, Infosys, Hindalco, Asian Paints and Dr Reddy's were among the top laggards on the NSE platform today with their shares down as much as 1.84 per cent. In contrast, ONGC, Tata Motors, Coal India, BPCL and Reliance Industries were among the top gainers.

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Mid- and small-cap shares were weak as Nifty Midcap 100 fell 0.73 per cent and small-cap edged 0.05 per cent lower.

14 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in the red. Sub-indexes Nifty IT and Nifty Consumer Durables were underperforming the NSE platform by falling 1.34 per cent and 0.70 per cent, respectively. On the flip side, Nifty Oil & Gas gained 0.41 per cent.

The overall market breadth stood slightly weak as 1,026 shares were seen advancing while 1,115 were declining on BSE.

Yes Bank, UCO Bank, Suzlon, GLT Infra, IOB, PNB, Bank of Maharashtra, JP Power, Green Power and South Indian Bank were the most active stocks on the NSE platform, in terms of volume.

On the global front, Asian shares rose, tracking an overnight surge in Wall Street. Japan's Nikkei fell 1.54 per cent, South Korea's Kospi edged 0.07 per cent lower and China's Shanghai Composite slipped 0.25 per cent. Hong Kong's Hang Seng index, however, rose 0.25 per cent.

All three major US stock indexes settled sharply lower. The Dow Jones Industrial Average declined 764 points or 2.25 per cent to close at 33,202.22; the S&P 500 plunged 100 points or 2.49 per cent to finish at 3,895.75; and the Nasdaq Composite slumped 360 points or 3.23 per cent to settle at 10,810.53.

Stocks in F&O ban

BHEL, Delta Corp, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Indiabulls Housing Finance, IRCTC and PNB are in F&O (Futures and Options) ban period today. Stocks are placed under F&O ban when the derivative contracts in their securities cross 95 per cent of the market-wide position limit.

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FII-DII data

Foreign institutional investors sold Rs 711 crore worth of equities on a net basis on Thursday, while domestic investors bought Rs 261 crore of shares, as per provisional NSE data.