Indices extend fall; Nifty below 10,250 mark

Benchmark indices extended losses and were dragged by weakness in metal, oil and gas, FMCG, auto and financial services stocks. The market fell further amid political upheaval after the Telugu Desam Party (TDP) formally decided to quit the NDA government.

At 2:18 PM, the BSE Sensex was trading at 33,285, down 400 points, while the Nifty50 was ruling at 10,231, down 129 points.

In the broader market, the BSE Midcap and the BSE Smallcap indices inched lower by 0.45% and 0.28%, respectively.

Dr Reddy's Laboratories stock is trading marginally down. The pharma company has launched Levocetirizine Dihydrochloride tablets, USP 5mg, an over-the-counter therapeutic equivalent generic version of Xyzal Allergy 24HR tablets in the United States market.

DLF gained 0.60% after announcing that the company’s board of directors would consider declaration of interim dividend for FY18 on March 20.

JP Associates stock rallied 10% after Rare Enterprises bought 3cr shares or 1.2% equity stake in the company at Rs18.37 per share valuing the deal at Rs55cr.

The volatility index, India VIX gained 4.29% at 14.9450.

M&M (+1.7%), Infratel (+1.2%), Aurobindo (+0.94%), UPL (+0.91%) and Yes Bank (+0.71%) were the top gainers on Nifty50.

BPCL (-3.6%), IOC (-3.3%), Tata Motors (-2.6%), HPCL (-2.5%) and UltraTech (-2.3%) were the top losers in today’s trade.

A total of 10 stocks registered a fresh 52-week high in trade today, while 19 stocks touched a new 52-week low on the NSE.

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