A trader looks at financial data on computer screens on the trading floor. (Photographer: Luke MacGregor/Bloomberg)

Sensex, Nifty Clock Longest Losing Streak In Nearly Three Months

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Closing Bell: Sensex, Nifty Clock Longest Losing Streak In Nearly Three Months

Indian equity benchmarks ended lower for the seventh consecutive trading session, their longest losing streak in nearly three months.

The S&P BSE Sensex closed 0.6 percent or 230 points lower at 37,558.91 and the NSE Nifty 50 ended at 11,301.80, down 0.5 percent. The broader market index represented by the NSE Nifty 500 Index closed 0.43 percent lower.

The market breadth was tilted in favour of sellers. About 1,005 stocks fell and 734 shares advanced on National Stock Exchange.

Six out of 11 sectoral gauges compiled by NSE ended higher, led by the NSE Nifty Media Index’s 3.6 percent higher. On the flipside, the NSE Nifty Metal Index was the top sectoral loser, down 1.4 percent.

Asian Paints Q4 Profit Misses Lowest Estimate

Asian Paints Ltd.’s quarterly during January-March period misses the lowest estimate.

The paintmaker reported a net profit of Rs 473 crore in the three months ended March, a fall of 1.6 percent from the year ago period, according to its stock exchange filing. The missed the lowest analyst estimate of Rs 530 crore tracked by Bloomberg.

Key Earnings Highlights (Q4, YoY)

  • Revenue up 12 percent to Rs 5,018 crore.
  • Ebitda down 2 percent to Rs 822 crore.
  • Margin at 16.4 percent versus 18.7 percent.
  • Shares of the company fell as much as 2.7 percent to Rs 1,348.50 after the results announcement.

Apollo Tyres Falls After Q4 Results Announcement

Shares of Apollo Tyres fell as much as 4.8 percent to Rs 182.55 after announcing its fourth quarter results.

Key Earnings Highlights (Q4, YoY)

  • Revenue up 5 percent to Rs 4,273 crore.
  • Net profit down 66 percent to Rs 84 crore.
  • Ebitda down 18 percent to Rs 423 crore.
  • Margin at 9.8 percent versus 12.8 percent.
  • One-time loss of Rs 100 crore due to IL&FS.

Money Market Update: Rupee Slips Below 70/$

The Indian rupee traded at day’s low and fell below 70 against the U.S. dollar.

Sensex, Nifty Clock Longest Losing Streak In Nearly Three Months

Market Check: Sensex, Nifty At Day’s Low

Indian equity benchmarks were trading at day’s low. The S&P BSE Sensex fell over 200 points and the NSE Nifty 50 traded below 11,300.

Sensex, Nifty Clock Longest Losing Streak In Nearly Three Months