The domestic equity markets started Tuesday’s trading session with a marginal decline led by profit booking, coupled with negative global cues as oil prices dipped and Chicago Fed President Charles Evans said that the Fed could raise short-term interest rates by three quarter-point moves by the end of 2017.
Tata Group stocks closed in a negative zone after Ratan Tata took back control of the Tata Group after Cyrus Mistry was abruptly removed as Chairman of the $100 billion coffee-to-steel business empire. Tata Steel fell 2.5%, TCS slipped 1.2% while Tata Metaliks tumbled 4.9%.
Nifty closed with a loss of 18 points at 8,691, while BSE Sensex ended with a loss of 88 points at 28,091.
On the global front, Asian stocks edged lower on Tuesday. Japan’s Nikkei closed gains at 0.75%. China’s Shanghai Composite and Hong Kong’s Hang Seng ended marginally lower.
European stocks were trading in green on Tuesday, ahead of economic data this week that is likely to influence policy of the world’s main central banks. The FTSE 100 is marginally up 0.43%. The CAC 40 and DAX gained 0.3% each.
Adani Ports & Special Economic Zone soared 9.4% on the BSE. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 1091 crore for the quarter ended September 30, 2016 as compared to Rs 677.6 crore for the quarter ended September 30, 2015.
IDBI Bank tumbled 3% after the bank posted a net profit of Rs 55.5 crore for the quarter ended September 30, 2016 as compared to Rs 119.5 crore for the quarter ended September 30, 2015.
HDFC Bank closed 1% lower at Rs 1250 on the BSE. The bank posted a net profit of Rs 3455 crore for the quarter ended September 30, 2016 as compared to Rs 2869 crore for the quarter ended September 30, 2015.
Adani Enterprises dropped 5% after the company posted a net profit aftex taxes, Minority Interest & Share of Profit / (Loss) of Associates of Rs 63 crore for the quarter ended September 30, 2016 as compared to Rs 298.7 crore for the quarter ended September 30, 2015.
Arvind jumped 12% to Rs 404 on the BSE. The company posted a net profit aftex taxes, Minority Interest & Share of Profit / (Loss) of Associates of Rs 72 crore for the quarter ended September 30, 2016 as compared to Rs 70.7 crore for the quarter ended September 30, 2015.
Federal Bank climbed 8.3% after the bank posted a net profit of Rs 201 crore for the quarter ended September 30, 2016 as compared to Rs 161.3 crore for the quarter ended September 30, 2015.
Bharti Infratel zoomed 2.4% after the company posted 31% increase in consolidated net profit at Rs 777 crore for the September quarter of the current financial year.
Idea Cellular dipped 2% after the company posted an 88% plunge in its consolidated net profit at Rs 91.46 crore in the September quarter due to higher expenses.
The rupee was trading up by one paise at 66.84 per US dollar.
Out of 1,543 stocks traded on the NSE, 884 declined and 593 advanced today.
Top 5 Nifty Gainers: Bharti Airtel (2.44%), Hero Motocorp (2.42%), Bajaj Auto (1.43%), Maruti Suzuki (1.35%) and M&M (1.19%)
Top 5 Nifty Losers: Axis Bank (-8.00%), ICICI Bank (-2.75%), Tata Motors (-2.31%), ITC Ltd. (-1.68%) and Asian Paints (-1.32%)
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