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Markets down on dull Q4 nos, global cues
Stock markets kicked off the new week on a dull note as a plunge in Tokyo and disappointing domestic corporate earnings along with a fall in manufacturing sector activity rattled investors.
Sensex sheds 170 points while Nifty falls 44 points
Mumbai: Stock markets kicked off the new week on a dull note as a plunge in Tokyo and disappointing domestic corporate earnings along with a fall in manufacturing sector activity rattled investors.
The 30-share benchmark BSE Sensex stayed in the negative zone throughout the day and settled 169.65 points or 0.66 per cent lower at 25,436.97 after touching a low of 25,341.14. This is the weakest closing since April 12.
The broader Nifty also succumbed to selling and slipped below the 7,800-mark in early trade to hit a low of 7,777.30 before recovering partially to close 43.90 points or 0.56 per cent down at 7,805.90
Investor sentiment was badly hit following heavy losses in Japanese shares, dragging the Nikkei down by 3.11 per cent, as exporters took a major hit from surging yen after BOJ took investors by surprise by deciding against fresh stimulus.
Private lender ICICI Bank emerged as the top Sensex loser, skidding 4.08 per cent to close at Rs 226.95 as the company posted its worst numbers in over a decade with net profit plunging 87 per cent in March quarter.
On the other side, housing finance major HDFC Ltd, however, perked up by 0.36 per cent on 30.76 per cent surge in Q4 consolidated net profit. The country's largest carmaker Maruti Suzuki ended 0.91 per cent up at Rs 3,829.55 after it posted a 13.3 per cent growth in sales in April.
Of 30-share Sensex pack, 18 scrips ended lower. Major losers were Dr Reddy's (2.66 pc), Adani Ports (1.93 pc), Bharti Airtel (1.64 pc), HDFC Bank (1.37 pc), SBI (1.35 pc), ITC (1.20 pc), Tata Steel (1.07 pc) Wipro (0.98 pc) and Infosys (0.84 pc). However, BHEL rose by 1.91 per cent followed by GAIL (1.89 pc) and Hero MotoCorp (0.99 pc).
Among BSE sectoral and industry indices, banking fell by 1.34 per cent, teck 0.65 per cent, IT 0.65 per cent, realty 0.59 per cent, finance 0.49 per cent and industrials 0.16 per cent. The market breadth was negative as 1,327 shares ended lower, 1,283 closed higher.
Overseas, markets in China, Hong Kong, Malaysian, Singapore and Thailand remained closed for public holidays. In Europe, most indices rose as a sharp decline in the previous session prompted investors to look for bargains.
