A trader monitors financial data on computer screens on the trading floor. (Photographer: Chris Ratcliffe/Bloomberg)

Nifty Clocks Longest Losing Streak In Nearly Five Months; Yes Bank Rallies 31%

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Closing Bell: Sensex Ends 157 Points Lower; Nifty Closes Below 10,750

Indian equity benchmarks ended lower led by the declines in Reliance Industries Ltd. and HDFC Bank Ltd.

The S&P BSE Sensex Index closed 0.44 percent or 157 points lower at 35,876.22 and the NSE Nifty 50 Index ended below 10,750, down 0.44 percent.

The 31-share index clocked its longest losing streak since Sept. 05, 2018 and the 50-stock index clocked its longest losing streak Sept. 24, 2018.

The market breadth was tilted in favour of sellers. About 875 stocks declined and 936 shares advanced on National Stock Exchange.

Eight out of eleven sectoral gauges compiled by NSE advanced, led by the NSE Nifty Media Index's 3.9 percent rally. On the flipside, the NSE Nifty IT Index was the top sectoral loser, down 1.1 percent.

Nifty Clocks Longest Losing Streak In Nearly Five Months; Yes Bank Rallies 31%

Stocks Reacting To Earnings Announcement

Gabriel India (Q3, YoY)

  • Stock fell as much as 5.8 percent to Rs 139.25.
  • Net profit at Rs 22 crore versus Rs 21.53 crore.
  • Revenue at Rs 510 crore versus Rs 541.53 crore.

Kaveri Seeds (Q3, YoY)

  • Stock fell as much as 8.5 percent to Rs 467.20.
  • Revenue down 6 percent to Rs 67 crore.
  • Net profit down 33 percent to Rs 3.6 crore.
  • Ebitda down 97 percent to Rs 0.2 crore.
  • Margin at 0.3 percent versus 13.6 percent.

Ashok Leyland (Q3, YoY)

  • Stock rose as much as 10.4 percent to Rs 87.10.
  • Revenues down 12 percent to Rs 6325 crore.
  • Net profit down 21 percent to Rs 381 crore.
  • Ebitda down 22 percent to Rs 650 crore.
  • Margin at 10.3 percent versus 11.7 percent.

Sadbhav Engineering (Q3, YoY)

  • Stock fell as much as 4.4 percent to Rs 165.60.
  • Net profit at Rs 56.25 crore versus Rs 61.82 crore
  • Revenue at Rs 925.53 crore versus Rs 839.36 crore.

NCL Industries (Q3, YoY)

  • Stock rose as much as 3.6 percent to Rs 97.
  • Net profit at Rs 6.5 crore versus Rs 13.71 crore.
  • Revenue at Rs 241.18 crore versus Rs 222.72 crore.

United Breweries (Q3, YoY)

  • Stock rose as much as 1.3 percent to Rs 1,413.
  • Revenue up 21 percent to Rs 1,451.2 crore.
  • Net profit up 130.4 percent to Rs 109.2 crore.
  • Ebitda up 62.4 percent to Rs 247.8 crore.
  • Margin at 17.1 percent versus 12.7 percent.

Stocks Moving On Heavy Volumes

Oracle Financial Services

  • Stock fell as much as 9 percent to Rs 3,471.05.
  • Trading volume was eight times its 20-day average.

NBCC India

  • Stock fell as much as 8.4 percent to Rs 47.20.
  • Trading volume was more than five times its 20-day average.

Indian Oil

  • Stock fell as much as 4.9 percent to Rs 123.55.
  • Trading volume was more than triple its 20-day average.

Rain Industries

  • Stock fell as much as 10 percent to Rs 90.50.
  • Trading volume was almost triple its 20-day average.

Jain Irrigation

  • Stock rose as much as 8.3 percent to Rs 55.30.
  • Trading volume was double its 20-day average.

Money Market Update: Rupee Weakens Further, Trades Below 71.15/$

The Indian rupee weakened further against the U.S. dollar. The home currency depreciated as much as 71.17 against the greenback.

Nifty Clocks Longest Losing Streak In Nearly Five Months; Yes Bank Rallies 31%

Page Industries’ Q3 Profit Up 23%, Margin Expands

Page Industries reported a profit of Rs 102 crore in the three months ended December, an increase of 23 percent from the year ago period, according to its stock exchange notification.

Key Earnings Highlights (YoY)

  • Revenue up 19 percent to Rs 738 crore.
  • Ebitda up 28 percent to Rs 165 crore.
  • Margin at 22.4 percent versus 20.8 percent.

Shares of the company fell as much as 2.4 percent to Rs 23,806.25 on NSE after the results announcement.