Sensex, Nifty Log Their Worst Decline In Over Two Weeks
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Closing Bell: Sensex, Nifty Log Their Worst Decline In Over Two Weeks
Indian equity benchmarks erased their opening gains and declined the most in over two weeks. The S&P BSE Sensex Index closed 0.98 percent lower at 34,812 and the NSE Nifty 50 Index closed at 10,482.20, down 0.97 percent.
The market breadth was tilted in favour of sellers. Ten out of 11 sectoral gauges compiled by NSE declined, led by the NSE Nifty Auto Index's 2.4 percent fall. On the flipside, NSE Nifty IT Index was the only sectoral gainer, up 0.7 percent.
Britannia Industries Q2 Profit Rises 16%
Britannia Industries reported a net profit of Rs 303 crore during the three months ended September, an increase of 16 percent from the year-ago period, according to its stock exchange notification.
Key earnings highlights (Q2, YoY)
- Net profit up 16 percent at Rs 303 crore.
- Revenue up 12.8 percent at Rs 2,870 crore.
- Ebitda up 20.5 percent at Rs 454.4 crore.
- Margin at Rs 15.8 percent versus 14.8 percent.
Rupee Weakens Further, Slips Below 73/$
The Indian weakened further and depreciated as much as 0.79 percent to trade at 73.06 per U.S. dollar.
Eicher Motors Declines Ahead Of Earnings Announcement
Shares of Eicher Motors declined for the second day and fell as much as 1.8 percent to Rs 22,084 ahead of its quarterly results announcement for the July-September period.
The stock is 27 percent below the Bloomberg consensus one-year price target. The scrip declined 27 percent so far this year.
Block Deal Alert: GMR Infra
GMR infra: About one crore shares changed hands in a single block deal, Bloomberg reported. Buyers and sellers were not known immediately.