Nifty ends above 7900, Sensex slumps 144pts; ITC, SBI up 1%

The Sensex ended down 143.84 points or 0.6 percent at 26121.40, and the Nifty slipped 39.10 points or 0.5 percent at 7915.20. About 1491 shares have advanced, 1127 shares declined, and 127 shares are unchanged. 

Tata Motors, Maruti, ITC, Vedanta and SBI were top gainers while Sun Pharma, BHEL, Dr Reddy's Labs, Wipro and ICICI Bank were losers in the Sensex. 

The Indian rupee was trading lower by 61 paise at 66.36 against the US dollar amid robust demand for the US currency from importers and banks while the weakness in domestic equities also dampened sentiment.

SECTORS & STOCKS

BSE Realty index was the top loser down 2.2% followed by Healthcare, Bankex, Capital Goods and Power indices.

Sun Pharma was the top Sensex loser down nearly 6% after the company reported a 46% year on year (YoY) dip in its consolidated net profit at Rs 1,107 crore for the quarter ended September 30, 2015 (Q2) due to lower sales growth, volatile currency movements and supply constraints. The drug maker had posted a net profit of Rs 2,050 crore for the corresponding period of the previous fiscal.

Dr Reddy’s Laboratories ended down 3.4%, extending its Friday’s 15% fall on the BSE, after the company has received a warning letter issued by the US Food and Drug Administration (USFDA), relating to its three plants Srikakulam, and Miryalaguda, Telegana along with the oncology formulation business at Duvvada. Among other pharma shares, Cipla slipped 1.6%.

Among the private banking majors HDFC Bank and ICICI Bank ended down 1.7% each.

IT majors also witnessed profit booking after recent gains. TCS, Infosys and Wipro were down 0.4-2% each.

Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each. Larsen & Toubro has entered into an in-principle agreement with Adani Kattupalli Ports for strategic sale of Kattupalli Port in Tamil Nadu. Acquisition cost was not disclosed.

Tata Motors gained 3.9% in an otherwise weak market after Tata Motors-owned Jaguar Land Rover launched a new 4.5 billion pounds cost-cutting plan to offset rising emissions cost and the slowdown in China.

Among other shares, Tata Power ended up 1% after the company today reported a consolidated net profit of Rs 247.31 crore for the second quarter ended September 30, on increase in revenue.

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