Closing Bell: Sensex ends 340 points lower, Nifty holds 10,000; Yes Bank down 9%.
A largely choppy session has ended around the low point. However, the Nifty held psychological 10,000-mark, while the Sensex ended over 300 points lower. The 50-share index has had a wobbly start to November series.
Selling was visible across all sectors, with banks, consumption, IT, metals and pharmaceuticals witnessing weak trades. The Nifty Midcap was mildly lower.
A drop in crude oil prices too failed to lift up sentiment on D-Street.
At the close of market hours, the Sensex closed lower by 340.78 points or 1.01% at 33349.31, while the Nifty closed down by 94.90 points or 0.94% at 10030.00. The market breadth was negative 1,090 shares advanced, against a decline of 1,438 shares, while 1,087 shares were unchanged.
Bajaj Auto, Tata Motors, UPL and Titan were the top gainers, while Yes Bank, Axis Bank, and JSW Steel lost the most.
HEADLINES OF THE DAY
Pharma major, Dr Reddy’s Laboratories, reported a rise of 77 percent (year-on-year) in its net profit at Rs 503.8 crore. The company had reported a profit of Rs 284.9 crore during the same period of last year.
RIL's Hathway & Den buys to hit broadcasters, DTH firms: Ind-Ra.
Reliance General Insurance Company (RGI) reported 20 percent rise in profit at Rs 56 crore for the second quarter ended September 30, 2018.
Edelweiss Financial Services Ltd (Edelweiss) reported a jump of 53 per cent in its consolidated net profit at Rs 276.38 crore in second quarter ended September driven by a healthy core income.
ITC Q2 profit rises 12% to Rs 2,955 cr, revenue up 13% on growth across segments.
European stocks were lower, tracking losses in Asia as anxiety over the outlook for US corporate profits renewed concerns about global economic growth.
Results to be announced tomorrow :- DCM Shriram Ind,Divis Labs,.
The crucial resistance for Nifty spot is now seen at 10280 and above this 10450 Support for the immediate term is now placed at 9900 next support will be 9750.
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