Sensex, Nifty lower; Idea gains 3%, Axis & Yes Bank most active

IDEAEquity benchmarks continued to consolidate ahead of inauguration speech of Donald Trump as US President later today and Union Budget (on February 1).

The 30-share BSE Sensex was down 87.77 points at 27220.83 and the 50-share NSE Nifty declined 21.95 points to 8413.15.

The market breadth was also negative as about 1277 shares declined against 1060 advancing shares on the BSE.

Axis Bank, ICICI Prudential, Yes Bank, GAIL, Infosys and Motherson Sumi were most active shares on bourses.

Bharti Airtel gained 3 percent after a media report indicated likely fund raising by the company to build war chest, via private placement. Idea Cellular also rose 3 percent.

Axis Bank retained its top position in selling list, down more than 5 percent on dismal earnings performance in Q3 on higher provisions and non-performing assets, though slippages were lower than analysts’ estimates. Yes Bank rose 2 percent after stellar quarterly earnings.

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