Sensex slips over 250 points; IOC stock gains 4%

Share indices fell to their day's low, weighed by losses in banks, metals and index majors Infosys, RIL, Kotak Mahindra Bank, HDFC and ICICI Bank.

Weakness in global markets and caution ahead of the Union Budget for 2018-19 due on Thursday are keeping investors on the sidelines.

At 3:03 PM, the BSE Sensex was trading at 36,034, down 251 points, while the broader Nifty50 index was ruling at 11,050, down 80 points.

In specific stocks, shares of TVS Motor Co erased gains and fell over 1% after the company's net profit for the third quarter ended December 31, came in at Rs154 cr, compared with Rs133cr in the year-ago quarter.

Shares of the state-owned oil refinery and marketing companies rose 1-3% due to a decline in prices of crude oil.

ITD Cementation stock dropped 2% after it fixed QIP issue price of Rs202.25, which was at a discount of up to 5% to the floor price of Rs213.20.

Volatility index India VIX slipped 4.98% at 16.9950.

BPCL (+1.9%), Airtel (+1.5%), GAIL (+1.5%), HPCL (+1.4%) and Hero MotoCorp (+1%) were the top gainers on Nifty50.

Eicher (-2.7%), Dr. Reddy’s (-2.6%), Kotak Mahindra Bank (-2.4%), Infratel (-2.3%) and Asian Paints (-1.9%) were the top losers in today’s trade.

Out of 2,019 stocks traded on the NSE, 413 advanced, 1,294 declined and 312 remained unchanged today.

A total of 24 stocks registered a fresh 52-week high in trade today, while 32 stocks touched a new 52-week low on the NSE.

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