Equity indices flat, SBI Life down 3.7 pc

Auto and financial stocks were under pressure during early hours on Thursday, edging equity benchmark indices into the negative terrain.

At 10:15 am, the BSE S&P Sensex was down by 64 points or 0.11 per cent at 58,186 while the Nifty 50 dipped by 22 points or 0.13 per cent to 17,331.

Many sectoral indices were in the red with Nifty realty down by 1 per cent, pharma by 0.42 per cent and financial service by 0.2 per cent. But Nifty FMCG and metal rose marginally.

Among stocks, SBI Life lost by 3.7 per cent to Rs 1,174.05 per share while Eicher Motors was down by 0.6 per cent and Bajaj Auto by 0.5 per cent.

Wipro lost by 0.8 per cent, Tech Mahindra by 0.7 per cent, Cipla by 0.6 per cent and Reliance Industries by 0.4 per cent.

However, Tata Motors, Nestle India, Britannia, Bharti Airtel, Hindalco and ONGC traded with a positive bias.

Meanwhile, Asian shares dropped in line with a cautious global mood as investors worried about the combination of slowing global growth and the potential tapering of central bank stimulus.

MSCI's broadest index of Asia Pacific shares outside Japan lost 1.04 per cent while Japan's Nikkei dropped 0.38 per cent.

South Korea's Kospi was off 0.74 per cent and Hong Kong's Hang Seng shed 1.17 per cent.

(ANI)

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