Equity benchmarks extended losses in last hour of trade, falling more than 2 percent. The Sensex crashed 621.91 points to 27820.19 and the Nifty plunged 179.20 points to 8426.80.
The Sensex is down 532.49 points or 1.9 percent at 27909.61 and the Nifty is down 148.30 points or 1.7 percent at 8457.70. About 788 shares have advanced, 1992 shares declined, and 158 shares are unchanged
Today, shares of ITC, Infosys, L&T, ONGC, HUL, M&M, Hero Motocorp, Cipla, Dr Reddy's Labs, Wipro and NTPC plunged 2-4 percent followed by HDFC, TCS, Axis Bank and Tata Motors with over 1 percent loss. However, ICICI Bank bucked the trend, up 1.6 percent. Sun Pharma gained nearly a percent.
Select bank shares are gaining in today’s session. SBI and HDFC Bank have gained around 0.4% each while ICICI Bank has gained nearly 2%. Tata Steel, up 2% and Sun Pharma, up 2.4% are other major gainers.
IT majors extended losses after lower-than-expected revenue growth in the fourth quarter by TCS. TCS was down 1.3% while Infosys dropped 2.4%. Wipro was down 1.9% and HCL Tech was down 0.8% ahead of their results tomorrow.
FMCG majors ITC and HUL which had gained in the previous weeks also extended losses and were down 2-2.8% each. Further, concerns that unseasonal rains that have damaged crops in parts of the country could reduce rural demand thereby hurting volumes also weighed on sentiment.
NTPC is down 2%. NTPC has signed a MoU with the Odisha government for setting up of an ITI (Industrial Training Institute) at an investment of Rs 7.72 crore in Ganjam district.
BHEL has lost 1.9%.
Reliance Industries was the biggest contributor to Sensex's fall, down 4.5 percent on profit booking post strong Q4 earnings.
The Sensex is down 532.49 points or 1.9 percent at 27909.61 and the Nifty is down 148.30 points or 1.7 percent at 8457.70. About 788 shares have advanced, 1992 shares declined, and 158 shares are unchanged
Today, shares of ITC, Infosys, L&T, ONGC, HUL, M&M, Hero Motocorp, Cipla, Dr Reddy's Labs, Wipro and NTPC plunged 2-4 percent followed by HDFC, TCS, Axis Bank and Tata Motors with over 1 percent loss. However, ICICI Bank bucked the trend, up 1.6 percent. Sun Pharma gained nearly a percent.
Select bank shares are gaining in today’s session. SBI and HDFC Bank have gained around 0.4% each while ICICI Bank has gained nearly 2%. Tata Steel, up 2% and Sun Pharma, up 2.4% are other major gainers.
IT majors extended losses after lower-than-expected revenue growth in the fourth quarter by TCS. TCS was down 1.3% while Infosys dropped 2.4%. Wipro was down 1.9% and HCL Tech was down 0.8% ahead of their results tomorrow.
FMCG majors ITC and HUL which had gained in the previous weeks also extended losses and were down 2-2.8% each. Further, concerns that unseasonal rains that have damaged crops in parts of the country could reduce rural demand thereby hurting volumes also weighed on sentiment.
NTPC is down 2%. NTPC has signed a MoU with the Odisha government for setting up of an ITI (Industrial Training Institute) at an investment of Rs 7.72 crore in Ganjam district.
BHEL has lost 1.9%.
Reliance Industries was the biggest contributor to Sensex's fall, down 4.5 percent on profit booking post strong Q4 earnings.
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Reliance Industries was the biggest contributor to Sensex's fall, down 4.5 percent on profit booking post strong Q4 earnings.
Read more at: http://www.moneycontrol.com/news/local-markets/nifty-breaches-8450-sensex-falls-600-pts-reliance-down-5_1362391.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/local-markets/nifty-breaches-8450-sensex-falls-600-pts-reliance-down-5_1362391.html?utm_source=ref_article
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