Stock Market Today: Nifty, Sensex End Lower As HDFC Bank, RIL, ICICI Bank Weigh
The NSE Nifty 50 settled 140.20 points or 0.62% lower at 22,302.50, and the S&P BSE Sensex ended 383.69 points or 0.52% down at 73,511.85.
KEY HIGHLIGHTS
Rupee Closes Weaker Against U.S. Dollar
The local currency closed 2 paise weaker against the U.S. Dollar at 83.51
It closed at 83.49 on Monday.
Source: Bloomberg
Nifty, Sensex End Lower As HDFC Bank, RIL, ICICI Bank Weigh: Market Wrap
India's benchmark indices ended lower on Tuesday as heavyweights HDFC Bank Ltd. ICICI Bank Ltd., and Reliance Industries Ltd. declined.
The NSE Nifty 50 settled 140.20 points or 0.62% lower at 22,302.50, and the S&P BSE Sensex ended 383.69 points or 0.52% down at 73,511.85.
The benchmark NSE Nifty 50 index extended losses to a third session, while the S&P BSE Sensex reversed gains from Monday.
Intraday, the NSE Nifty 50 index declined 0.94% to 22,232.05 and the S&P BSE Sensex fell 0.86% to 73,259.26.
"Mid and Smallcaps remained under the grip of the bears which dragged the overall markets lower. As the day progressed, the Index compounded its losses; however, in the last session, some recovery was seen from the lower levels and Nifty50 settled the day at 22,302.50 with a loss of 140.20 points," said Aditya Gaggar, director, Progressive Shares.
Among the sectors, FMCG extended its morning gains to be the outperformer of the day while a steep recovery in the IT counters helped the sector to end the day in green. Conversely, Realty and Metal were the major laggards. The Index has made yet another bearish candle on the daily chart indicating upper hand of the Bears. The previous bullish gap zone of 22,160-22,200 will be considered support while 22,400 is an immediate hurdle, Gaggar said.
Hindustan Unilever Ltd., ITC Ltd., Tata Consultancy Services Ltd., Infosys Ltd., and Kotak Mahindra Bank Ltd. added to the index.
HDFC Bank Ltd., ICICI Bank Ltd., Reliance Industries Ltd., Powergrid Corp of India Ltd., and Tata Motors Ltd. pressured the benchmark.
On NSE, 10 sectors out of 12 ended lower, and two settled higher. The NSE Nifty Realty was the top loser among sectoral indices, and the NSE Nifty FMCG was the top gainer among sectoral indices.
Broader markets underperformed. The S&P BSE Midcap closed 1.9% lower and the S&P BSE Smallcap settled 1.65% lower.
Seventeen out of 20 sectors on the BSE closed lower. S&P BSE Fast Moving Consumer Goods, S&P BSE Information Technology, and S&P BSE Teck were the only indices that rose.
Market breadth was skewed in the favour of sellers. Around 2,727 stocks declined, 1,096 rose and 109 remain unchanged on the BSE.
Watch India Market Close At NDTV Profit
Kajaria Ceramics Q4 Earnings Highlights (Consolidated, YoY)
Revenue rose 2.98% to Rs 1,240.82 crore from Rs 1,204.82 crore
Ebitda fell 2.23% to Rs 172 crore from Rs 175.94 crore
Margin fell 74 bps at 13.86% from 14.6%
Net profit fell 5.79% to Rs 104.27 crore from Rs 110.69 crore
Board recommends final dividend of Rs 6 per share
Approves increase in investment limits in arm Kajaria Plywood to Rs 125 crore from Rs 115 crore
Approves increase in investment limits in Keronite Tiles to Rs 65 crore from Rs 50 crore
To invest Rs 15 crore to set up manufacturing facility of tiles adhesive at Rajasthan
Jindal Stainless Supplies Alloy Steel Sheets To DRDO
Jindal Stainless Ltd. is to supplied special alloy steel sheets in DRDO’s SMART system for navy.
Alert: DRDO stands for Defence Research and Development Organisation
Source: Exchange filing
