Stocks Radar: Tata Motors, Intellect Design Arena, Sun Pharma And More
- Author: Wendy Palmer Feb 16, 2017,
Feb 16, 2017, 0:59
Increased chances of an upcoming U.S. rate hike, along with disappointing quarterly results, dragged the Indian equities markets lower on Wednesday.
The benchmark BSE Sensex fell 0.65 percent to 28,155.56, its lowest since Feb.1.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 11.50 points or 0.13 per cent to 8,805.05 points. On the NSE, 12 shares closed in the green, while 38 shares ended the day in the red and one remained unchanged. However, Mid-cap declined 154 points and Small-cap too fell 204 points. The company on Tuesday, reported net profit of Rs 111.57 crore in Q3, declining by 96% from Rs 2952.67 crore a year ago same period.
The US Dow Jones ended up 0.5 per cent yesterday.
Top losers in the Sensex-30 pack: Tata Motors (down 10.3 per cent), Sun Pharma (down 4.3 per cent), Tata Steel (down 2.6 per cent), Adani Ports (down 2.1 per cent), and Hero Motocorp (down 1.8 per cent). ITC, HDFC Bank, Zee Entertainment Enterprises, Axis Bank, Power Grid Corporation, Bajaj Auto and Asian Paints are up 0.3% - 1.2%.
The BSE market breadth was, however, tilted in favour of the bears - with 1,787 declines and 1,081 advances.
Vijay Singhania, founder and Director of brokerage firm Trade Smart Online, pointed out that it was a lacklustre day on the bourses with the broad market indices moving in a narrow range.
Realty major DLF lost 7 percent on reporting a 46 percent fall in quarterly profit post demonetization.
The total turnover on BSE amounted to Rs 3,412.57 crore, higher than turnover of Rs 2,694.12 crore registered during the previous trading session.