A broker speaks on his mobile phone during the session at the Bombay Stock Exchange in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Sensex, Nifty Drop To One-Month Low 

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Closing Bell: Sensex, Nifty Close At Over One-Month Low

Indian equity benchmarks ended at over a month low, dragged down by losses in Tata Motors and oil retailers.

The S&P BSE Sensex ended 0.84 percent lower at 38,277.55 and the NSE Nifty 50 ended at 11,497.90, down 0.87 percent. The broader market index represented by the NSE Nifty 500 Index ended 0.86 percent lower.

The market breadth was tilted in favour of sellers. About 1,209 stocks declined and 559 shares advanced on National Stock Exchange.

Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 2.74 percent fall. On the flipside, the NSE Nifty IT Index was the only sectoral gainer, up 0.15 percent.

Escorts Falls After Q4 Results

Shares of the tractor maker declined as much as 3.2 percent to 643.45 apiece. The company posted its March quarter results today.

Key Highlights: (YoY)

  • Net profit rose 7 percent to 121 crore.
  • Revenue rose 14 percent to Rs 1,632 crore.
  • Ebitda rose 10 percent to Rs 190.50 crore
  • Operating margin fell 40 basis points to 11.7 percent.
  • Company declared a final dividend of Rs 2.50 per share.

The relative strength index to the stock was below 30, indicating the stock may be oversold. The stock declined 34 percent in the past 12 months compared with a 9 percent gain in the Sensex.

Europe Market Check: Equities Trade Lower

European stocks fell from a steady start as losses in banking and mining stocks dragged down the indices amid ongoing U.S.-China trade negotiations.

Sensex, Nifty Drop To One-Month Low 

Essel Group Shares Slump

Shares of Essel Group companies fell in today’s session. The relative strength index on the stocks were below 30, indicating they may be oversold.

  • Zee Entertainment declined 11 percent intraday to Rs 342 apiece.
  • Dish TV fell 12.1 percent to Rs 30.75 apiece.
Sensex, Nifty Drop To One-Month Low 

Stocks Moving On Heavy Volumes

Narayana Hrudalaya

  • Stock declined 2.7 percent to Rs 190.15.
  • Trading volume was more than 30 times its 20-day average.

Aavas Financiers

  • Stock advanced 9 percent to Rs 1,462.95.
  • Trading volume was more than 12 times its 20-day average.

Security and Intelligence Services

  • Stock fell 6.3 percent to Rs 883.50.
  • Trading volume was more than 16 times its 20-day average.

Star Cement

  • Stock rose 7.7 percent to Rs 118.
  • Trading volume was more than six times its 20-day average.