E-Paper
Sensex falls 109 points as Airtel, HDFC earnings weigh
The benchmark BSE Sensex on Monday retreated from its two-month highs by falling 108.85 points to 27,361.96 as earnings numbers from heavyweights Bharti Airtel and HDFC Ltd failed to cheer investors.
The benchmark BSE Sensex on Monday retreated from its two-month highs by falling 108.85 points to 27,361.96 as earnings numbers from heavyweights Bharti Airtel and HDFC Ltd failed to cheer investors.
Profit-booking in PSU, oil and gas, consumer durables, metal and banking stocks also added to the rout as the index fell from over two-month highs hit in the previous session.
The BSE barometer after rising over 147 points in early trade to hit a high 27,618.14 soon slipped into the negative zone after participants preferred to book profits in recent gainers and touched a low of 27,318.20.
Finally, it settled 108.85 points or 0.40% lower at 27,361.96. The index had rallied by 183.15 points in the previous session to hit a two-month high of 27,470.81.
The NSE Nifty after rising past 8,300-mark to touch a high of 8,336.30 points in early trade, succumbed to profit-booking and ended 34.90 points or 0.42% down at 8,260.55.
Of the 30-pack Sensex, 15 shares ended with losses, while NTPC ended flat.
The rupee depreciating 18 paise to 65.01 against the US dollar (intra-day) also weighed. Shares of Coal India suffered the most by falling 2.40% followed by HDFC by 2.09% after the company posted a marginal rise in consolidated net profit to Rs 2,106.51 crore for the second quarter ended September 30.
Bharti Airtel slipped 1.91% even as its second quarter profit beat estimates. Other losers which contributed to the fall include RIL, Lupin, Axis Bank, ONGC, HDFC Bank, SBI, ITC, ICICI Bank, M&M, L&T and Cipla.
However, BHEL, Vedanta, Bajaj Auto, Tata Steel, Hero MotoCorp, HUL, GAIL, Dr Reddy’s, Sun Pharma, Tata Motors, Hindalco and Wipro cushioned the fall. Sector-wise, the BSE PSU index suffered the most by losing 0.99%, followed by oil&gas 0.95, consumer durables 0.87%, metal 0.70%, realty 0.69% and banking 0.63%.
Profit-booking by retail investors also dragged down small-cap index by 0.72% while mid-cap index shed 0.52%. Asian shares ended mostly higher after China slashed interest rates for the sixth time in a year. Europe, however, was mixed in its early deals.
