The Sensex and Nifty closed near a 4-month low amid weakness in global markets and uncertainty about the outcome of US presidential elections which weighed on the sentiment.
The domestic market opened lower, the Nifty breached the crucial 8500 level for the first time since July 11.
Nifty closed with a loss of 29 points at 8,485, while BSE Sensex ended with a loss of 97 points at 27,430.
On the economy front, the Centre and the states have managed a broad consensus on the tax rates under the goods and services tax (GST) after the Centre agreed to add an additional slab of 40% in the rate structure of this ambitious tax reform, as per media reports.
Among the Asian Markets, China’s Shanghai Composite closed in green, while the Japan’s Nikkei and Hong Kong’s Hang Seng closed lower by 1% respectively.
Ambuja Cements advanced 1% after the company reported a net profit of Rs 277 crore for the quarter-ended September, as against Rs 244 crore.
TTK Prestige dropped 8.7% after the company a net profit of Rs 35.6 crore for quarter-ended September, compared to Rs 38.60 crore. It saw net sales of Rs 883 crore for the three-month period, compared to Rs 746 crore YoY.
Hero MotoCorp gained 1.7%. Hero MotoCorp reported a 3.6% increase in sales at 663,153 units in October.
Strides Shasun Ltd soared 7.2%. The company said it and Mylan agreed to settle regulatory and general claims on the Agila transaction. After payment to Mylan, Strides to receive approximately $30 million from regulatory escrow.
TVS Motor Company slipped 2%. The company posted 12% increase in total sales at 308,690 units in October. The Chennai-based company sold 274,622 units in the same month last year.
IL&FS Engineering tanked 6.3% after the company reported a net loss of Rs 81 crore for the quarter ended September 30, 2016 as against a net loss of Rs 82 crore in the same quarter a year ago.
European shares were trading flat ahead of Bank of England’s latest rate decision and fresh corporate earnings. The FTSE 100 was trading down. DAX and the CAC 40 were trading flat around 0.4% each.
The rupee was trading flat at 66.70 per US dollar.
Out of 1,412 stocks traded on the NSE, 1,015 declined and 354 advanced today.
Top 5 Nifty Gainers: ITC Ltd. (4.18%), Hind. Unilever (2.05%), NTPC (0.95%), ONGC (0.86%) and Infosys Ltd. (0.82%).
Top 5 Nifty Losers: Sun Pharma (-4.46%), Dr. Reddys Lab (-4.39%), Lupin Ltd. (-3.91%), Maruti Suzuki (-1.70%) and Bharti Airtel (-1.28%)
To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.