Homemarket Newsstocks News

    Sensex, Nifty end at over 6-month lows, HDFC twins, Reliance Industries drag Nifty

    Sensex, Nifty end at over 6-month lows, HDFC twins, Reliance Industries drag Nifty

    Sensex, Nifty end at over 6-month lows, HDFC twins, Reliance Industries drag Nifty
    Profile image

    By Sudarshan Kumar   IST (Updated)

    Mini

    Financials turned out to be the top losers, while IT alone batted for the bulls in a session that saw the broader NSE index breaching 10,100 mark and Sensex slipping below 33,700.

    Indian market closed lower on Thursday, tracking its global peers with benchmark indexes, the Sensex and Nifty, ending at over 6-month closing lows. Financials turned out to be the top losers, while IT alone batted for the bulls in a session that saw the broader NSE index breaching 10,100 mark and Sensex slipping below 33,700.
    At close, Sensex was down 344 points to 33,690, while Nifty declined by 100 points to 10,125. HDFC twins and Reliance Industries dragged Nifty by more than 40 percent whereas support came from IT stocks of HCL Tech, Wipro.
    The broader markets traded under severe pressure with the Nifty Bank tumbling 247 points to 24,817 and Nifty Midcap Index by 102 points to 16,276.
    Maruti Suzuki reported a weak earnings for July-September quarter with the automobile major’s operating margin falling 160 bps to 15.2 percent and profit slipping to Rs 2,240 crore.
    JSW Steel posted better-than-expected earnings with profit coming in at Rs 2,087 crore against the poll of Rs 2,080 crore. EBITDA came in at Rs 4,906 crore against the estimate of Rs 4,565 crore. Post-Q2 results, the steel major’s shares recovered 3 percent from lows to close with a gain of 0.4 percent in trade.
    Nifty November futures closed with a premium of 65 points at 10,190. For the October series, Nifty was down 8 percent and Sensex 7 percent. Indiabulls Housing Finance and Tata Motors were top index losers in the October series with a fall of over 26 percent each. Amongst indices, IT was the only index that saw positive returns in October series.
    On the global front, Asian equities mostly tumbled following sharp losses on Wall Street overnight. Greater China markets struggled for gains as Hong Kong’s Hang Seng index fell 1 percent.
    The Shanghai composite erased earlier losses of more than 2.5 percent to close marginally higher at 2,603.8. The Shenzhen composite declined 0.34 percent to close at 1,292.80.
    Meanwhile, Japan’s Nikkei 225 fell 3.72 percent to close at 21,268.73, while the Topix index was down 3.1 percent to end the trading day at 1,600.92.
    In South Korea, the Kospi fell 1.63 percent to close at 2,063.3, with shares of Samsung Electronics and SK Hynix both declining by at least 3 percent each. The benchmark index was down more than 16 percent year-to-date.
    Samsung shares were down 3.64 percent. The declines came after semiconductor stocks saw their worst day in nearly a decade on Wednesday.
    Australia’s ASX 200 fell 2.83 percent to close at 5,664.1, with most sectors declining. The energy subindex lost 2.65 percent while the heavily weighted financial sector was down 3.02 percent.
    Major banking stocks were down, with shares of ANZ falling 2.55 percent, Commonwealth Bank down 2.4 percent, Westpac off by 2.49 percent and the National Australia Bank down 2.5 percent.
    Shares of Australia’s largest wealth manager AMP plunged 24.47 percent. The decline followed after the company said that it would sell its life insurance arm at a discount.
    Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng