Besides banks, Tata Group stocks extended their fall after the abrupt ouster of Chairman Cyrus Mistry on Monday, lower global crude oil prices and dampened sentiment ahead of the October month F&O expiry on Thursday.
Finally, the BSE Sensex ended with a loss of 255 points at 27,837. The BSE Sensex opened at 28,051, touched an intra-day high of 28,050.55 and low of 27,760.
The NSE Nifty closed with a loss of 76 points at 8,615. The NSE Nifty opened at 8,657 hitting a high of 8,657.30 and low of 8,597.
Heavy selling pressure was witnessed in banking, metal, financial, industrial, pharma, and power stocks, while telecom and consumer durables stocks were among the gainers.
On the economy front, Union Minister Nirmala Sitharaman expressed disappointment at India’s rank remaining low on the ease of doing business front. The efforts and reforms undertaken by the Centre and states have not been adequately captured in the ranking released by the World Bank, Nirmala Sitharaman said.
On the global front, Asian markets closed in red. The Nikkei 225 closed marginally higher. Hong Kong’s Hang Seng index and Shanghai Composite index closed in red.
European markets were trading in red on Wednesday, as oil prices extended losses and investors digested a slew of mixed earnings reports. The FTSE 100 and the CAC 40 were trading lower by 2% each. DAX slipped 1.02%.
The India VIX (Volatility) index was down 0.20% at 14.4525. Out of 1,481 stocks traded on the NSE, 982 declined and 457 advanced today.
The rupee was trading up one paise at 66.82 per US dollar.
Axis Bank tanked 8% to Rs 486 on the BSE. The bank has posted a net profit of Rs 319 crore for the quarter ended September 30, 2016 as compared to Rs 1915.6 crore for the quarter ended September 30, 2015.
Cadila Healthcare dropped 4.8% after the pharma company posted a net profit after taxes, Minority Interest & Share of Profit/Loss of Associates of Rs 338 crore for the quarter ended September 30, 2016 as compared to Rs 475 crore for the quarter ended September 30, 2015.
Suzlon Energy gained 0.48% after the company signed a Share Subscription and Shareholders’ Agreement with Ostro Energy Private Limited for setting-up of a solar power project under Prathamesh Solarfarms Limited, presently a wholly owned subsidiary of the Company, and eventually sale of Prathamesh.
Navneet Education inched up 1% at Rs 110 on the BSE. The company announced the acquisition of Chicago-based Britannica’s Indian curriculum business. Under the agreement, the current Britannica business unit will become an independent company with Navneet.
ITC Ltd closed marginally higher on the BSE. The company posted a net profit of Rs 2,500 crore for the quarter ended September 30, 2016 as compared to Rs 2,262.5 crore for the quarter ended September 30, 2015.
Bharti Airtel Ltd zoomed 2%. The company has posted a net profit of Rs 1460 crore for the quarter ended September 30, 2016 as compared to Rs 1536 crore for the quarter ended September 30, 2015.
A total of 102 stocks registered a fresh 52-week high in trade today, whereas seven stocks touched a new 52-week low on the NSE.
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