UltraTech Cement, Bajaj Auto and Axis Bank have lost almost one per cent each on the BSE.
After the gains in the last two weeks, the benchmark indices have been trading short as they seek to consolidate near all-time highs. At 12:30 pm, the Sensex is trading 142.80 points or 0.25 percent down at 58,107.55 and the Nifty is down 43.70 points or 0.22 percent at 17,307.40. 15 out of 30 BSE Sensex stocks are trading in the green and an equal number are in negative territory. Gains in Bharti Airtel, ITC, Tata Steel and Hindustan Unilever and losses in UltraTech Cement, Bajaj Auto and Axis Bank were being negated.
The broader market is outperforming largecap peers, with the BSE Midcap index and BSE Smallcap index gaining 0.1 per cent and 0.3 per cent, respectively.
The rupee fell by 25 paise to 73.85 against the US dollar in the currency market on Thursday due to a rise in the dollar index and importer hedging. At the interbank foreign exchange, the rupee opened at 73.77 against the dollar and later fell to 73.85.
Meanwhile, all eyes are on the ECB Council meeting to be held later in the day as inflation is expected to start easing its stimulus program soon in view of the bounce back to a 10-year high.
On the stock-specific front, Nestle has climbed 2 per cent to top the list of gainers on the BSE. Bharti Airtel, ITC, Tata Steel and Hindustan Unilever hold up to one per cent each in the BSE.
On the other hand, UltraTech Cement, Bajaj Auto and Axis Bank have lost nearly one per cent each in the BSE pack.
Among stocks in the news, Infosys has announced a multi-year strategic partnership with global media firm Economist Group to accelerate sustainability solutions. Shares of Infosys are trading at Rs 1,685, down 0.4 per cent on the BSE.
And TCS has said that Avianca, one of the leading airlines in South America, has selected it as a strategic partner in its cloud transformation journey. Shares of TCS rose 0.9 per cent to Rs 3,797.40 on the BSE.
BSE market breadth is positive. Of the 3,200 stocks traded on the BSE, 1,671 are forward stocks, while 1,375 are down.
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