Employees are reflected in a glass panel as they use desktop computers while monitoring data at a securities brokerage in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex Drops Over 450 Points Dragged By RIL, HDFC

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Closing Bell: Sensex, Nifty Fall For Second Day As Energy, IT Shares Drag

Indian equity benchmarks extended decline dragged by bluechip stocks like Reliance Industries, HDFC, Infosys and Yes Bank.

The S&P BSE Sensex fell 1.33 percent or 464 points to 34,316 and the NSE Nifty 50 Index dropped 1.43 percent or 149 points to 10,304.

Seventeen of 19 sector gauges compiled by BSE ended lower dragged by the S&P BSE Energy and S&P BSE IT Indices’ over 2.5 percent drop. On the flipside, the S&P BSE FMCG Index was top gainer, up 0.4 percent.

The mid- and small-cap shares were in-line with their larger peers as the S&P BSE MidCap Index fell 1.1 percent and the S&P BSE SmallCap Index tumbled 1.3 percent.

RBI Extends Tenor Of Two Government Of India Bonds

The Reserve Bank of India, in consultation with the Government of India, has converted two securities maturing in 2018-19 and 2019-20 having total face value of Rs 6,155 crore to two longer tenor securities maturing in 2025-26 and 2023-24 respectively.

The transaction has been conducted on October 17, 2018 at the Financial Benchmarks India Private Limited (FBIL) prices with a scheduled commercial bank.

UltraTech Cement Plunges After Profit Miss Estimates In Q2

Shares of the Mumbai-based cement maker fell as much as 5.32 percent, the most in over 10 months, to Rs 3,525 after it missed Bloomberg consensus estimates in July-September quarter.

Key earnings highlights:

  • Standalone net profit down 9 percent at Rs 391 crore versus estimate of Rs 421 crore (YoY)
  • Revenue up 21 percent at Rs 7,771 crore versus Rs 6,426 crore (YoY)
  • EBITDA down 7 percent at Rs 1,207 crore versus Rs 1,294 crore (YoY)
  • Margin at 15.5 percent versus 20.1 percent (YoY)

Blue Dart, Mahindra CIE Among Stocks Moving On Heavy Volumes

  • Blue Dart: The Mumbai-based courier service company fell as much as 0.8 percent to Rs 2,760. Trading volume was 18 times its 20-day average.
  • Sudarshan Chemicals: The Pune-based chemical maker fell as much as 20.52 percent to Rs 300.20. Trading volume was 205 times its 20-day average.
  • Mahindra CIE: The Pune-based auto parts maker fell as much as 2.45 percent to Rs 257.10. Trading volume 13.4 times its 20-day average.
  • Finolex Industries: The Pune-based PVC pipe maker fell as much as 2.12 percent to Rs 471.20. Trading volume was 9.5 times its 20-day average.

Market Check: Sensex, Nifty Struggle As RIL, Infosys, Yes Bank Fall

Indian equity benchmarks continue to struggle as bluechips like Reliance Industries, Yes Bank, Infosys and Tata Motors DVR came under selling pressure.

The Sensex fell 1.13 percent or 393 points to 34,386 and the Nifty 50 Index dropped 1.2 percent or 127 points to 10,326.

Fifteen of 19 sector gauges compiled by BSE were trading lower dragged by the S&P BSE Energy Index's 3.3 percent decline. On flipside, the S&P BSE Metal Index rose 0.6 percent.

The mid- and small-cap shares were in-line with larger peers as the S&P BSE MidCap Index tumbled 1 percent and the S&P BSE SmallCap Index slipped 1.5 percent.

Sensex Drops Over 450 Points Dragged By RIL, HDFC