Sensex slips for 5th day, falls 181 points to trade at 1-month low

The domestic stock market extended loses to a fifth straight session on Friday as the benchmark BSE Sensex slipped by 181 points to fall to a one-month low of 26,656.83, bogged down by weaker-than-expected quarterly numbers of heavyweights, ITC and L&T.

The domestic stock market extended loses to a fifth straight session on Friday as the benchmark BSE Sensex slipped by 181 points to fall to a one-month low of 26,656.83, bogged down by weaker-than-expected quarterly numbers of heavyweights, ITC and L&T.

The BSE Sensex rebounded by 54 points in Friday’s early trade, but is still below the 27,000-mark. (HT File Photo)

ITC was among the worst performers on Sensex and Nifty with over 4% plunge in share prices after the firm’s second quarter earnings failed to impress investors. The FMCG major posted a marginal rise in standalone net profit at Rs 2,431.25 crore for the September quarter.

Whereas, diversified group L&T fell 4.11% after its second quarter net profit missed market estimates.

The November month derivatives series began on a positive note as the 30-share Sensex rose around 105 points in early trade to touch a high of 26,942.29; however, on emergence of selling on tepid earnings by some blue-chips, the index dipped to the session’s low of 26,585.20.

It finally settled lower by 181.31 points or 0.68% at 26,656.83 -- its weakest closing since October 1.

However, NTPC, ICICI Bank, Dr Reddy, Axis Bank, Sun Pharma, Hindalco and RIL ended in positive terrain.

The NSE Nifty slipped below the 8,100-mark by falling 45.95 points or 0.57% to 8,065.80. It shuttled between 8,146.10 and 8,044.40, intraday.

On a weekly basis, the Sensex lost 813.98 points or 3.05% and the NSE Nifty plunged by 229.70 points or 2.84%.

“Tepid earnings by several blue-chip companies so far continue to drive market into consolidation,” said Manoj Choraria, a Delhi-based NSE broker.

Sectorwise, the BSE capital goods index suffered the most by falling 2.65%, followed by FMCG at 2.34%, realty 1.39%, auto 1.20%, metal 0.93% and IT 0.54%.

Broader markets also fell with the BSE small-cap falling 0.78% and mid-cap declining 0.13%.

Meanwhile, foreign investors bought shares worth Rs 174.12 crore on Thursday, as per provisional data.

Most Asian markets ended mixed, while European stocks were trading a shade lower in their early trade.