Sensex falls 297 points to close at 37,880; Nifty below 11,250

0
20

NEW DELHI: Equity indices on Thursday ended in red after the benchmark BSE sensex fell over 250 points, dragged by heavy losses in banking, auto and metal stocks amid muted earnings outlook.

The 30-share BSE index dropped 297.55 points or 0.78 per cent to close at 37,880.40, while the broader NSE Nifty plunged 78.75 points or 0.70 per cent to end at 11,234.55.

Top losers in the sensex pack include IndusInd Bank, Yes Bank, Tata Motors, ICICI Bank, SBI, Tata Steel and HDFC Bank with their stocks falling as much as 6.09 per cent. 22 out of 30 shares ended in red.

While, Bharati Airtel, Reliance, Hindustan Unilever, HCL Tech, Power Grid, Sun Pharma, Asain Paints and Bajaj Auto were the only gainers in the 30-share BSE index — with their shares rising as much as 4.33 per cent.

On the NSE index, except for Nifty Pharma, all sub-indices ended lower. Nifty PSU Bank, Nifty Private Bank and Nifty Bank were the top losers with their shares down as much as 2.94 per cent.

Weak earnings outlook weighed on domestic investor sentiment, traders said.

Kicking off the earnings season, IndusInd Bank’s Q2 consolidated net profit jumped 52.2 per cent, but gross non-performing assets rose to 2.19 per cent of gross advances as on September 30, 2019, from 1.09 per cent in the same period a year ago.
IT services firm Tata Consultancy Services Ltd (TCS) is scheduled to report its Q2 financial results later in the day, while Infosys Ltd is scheduled to report its results on Friday.
Meanwhile, foreign institutional investors (FIIs) remained net sellers in the capital market, pulling out Rs 485.24 crore on Wednesday, while domestic institutional investors bought shares worth Rs 956.26 crore, data available with stock exchange showed.
(With agency inputs)

LEAVE A REPLY

Please enter your comment!
Please enter your name here