Sensex falls 112 points on earnings worry, derivatives expiry
The benchmark BSE Sensex on Tuesday declined by another 112 points to close at over one-week low of 27,531.41 due to continued selling in heavyweights such as ITC, Tata Motors and Vedanta on muted earnings amid weakening rupee.business Updated: May 29, 2015 10:41 IST
The benchmark BSE Sensex on Tuesday declined by another 112 points to close at over one-week low of 27,531.41 due to continued selling in heavyweights such as ITC, Tata Motors and Vedanta on muted earnings amid weakening rupee.
A cautious stance adopted by participants, who trimmed positions ahead of May derivatives expiry on Thursday, and absence of any positive trigger also dampened trading sentiments, brokers said.
At the forex market, the rupee was trading 42 paise down at Rs 63.99 against the American currency (intra-day).
Falling for the second day in a row, the 30-share Sensex closed down 112.47 points, or 0.41%, at 27,531.41 --the lowest closing level since May 15.
It touched a high of 27,675.94 and a low of 27,473.54 in day trade. The 50-issue Nifty of NSE fell by 30.90 points, or 0.37%, to 8,339.35 after hovering between 8,320.05 and 8,378.90 intra-day.
Vedanta Ltd plunged 2.33% and was the biggest loser among Sensex scrips. ONGC fell sharply by 2.05%. Tata Motors fell by 1.60% ahead of its January-March quarter earnings due later in the day.
ITC was down 1.05%, sliding for the second session after disappointing earnings on Friday. Sun Pharma, NTPC, Reliance, ICICI Bank, HDFC and Dr Reddy's recorded losses up to 1.34%.
FMCG major Nestle shares closed down 2.10% after cracking over 6% intra-day following reports that UP Food Safety and Drug Administration may file case against the company due to higher than permitted levels of lead and a food additive in Maggi noodles.
However, state-run BHEL emerged as top gainer among Sensex stocks by soaring 2.88% even as it posted 52 per cent fall in net profit at Rs 888.35 crore for the quarter ended March 31, 2015.