Key benchmark indices languished in negative terrain in mid-afternoon trade. At 14:19 IST, the barometer index, the S&P BSE Sensex was down 215.85 points or 0.77% at 27,875.57. The losses for the Nifty 50 index were lower in percentage terms than those for the Sensex. The Nifty was currently down 55.65 points or 0.64% at 8,635.65. The Sensex was currently hovering below the psychological 28,000 mark after falling below that mark in intraday trade. Weakness in global stocks weighed on sentiment on the domestic bourses.
After opening in the red, key indices have so far traded in the negative terrain. The Sensex lost 282.26 points or 1% at the day's low of 27,809.16 in afternoon trade, its lowest level since 18 October 2016. The barometer index shed 40.87 points or 0.14% at the day's high of 28,050.55 in opening trade. The Nifty lost 74 points or 0.85% at the day's low of 8,617.30 in afternoon trade, its lowest level since 18 October 2016. The index fell 34 points or 0.39% at the day's high of 8,657.30 in opening trade.
In overseas stock markets, European and Asian stocks edged lower tracking decline in oil prices. US stocks closed modestly lower yesterday, 25 October 2016 amid mixed earnings and slide in oil prices.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,350 shares rose and 1,280 shares fell. A total of 224 shares were unchanged. The BSE Mid-Cap index was currently down 0.28%. The decline in this index was lower than Sensex's decline in percentage terms. The BSE Small-Cap index was currently up 0.1%, outperforming the Sensex.
Cigarette manufacturer ITC fell 0.4% after reporting Q2 results. The company's net profit rose 10.5% to Rs 2500.03 crore on 8.36% rise in total income to Rs 14091.96 crore in Q2 September 2016 over Q2 September 2015. The result was announced during market hours today, 26 October 2016.
Shares of power generation and power distribution companies were mixed. Torrent Power (up 0.51 %), GVK Power & Infrastructure (up 0.74%), NHPC (up 0.01%), and Adani Power (up 2.52%) gained. Tata Power Company (down 1.52%), NTPC (down 0.2%), Power Grid Corporation of India (down 0.84%), Reliance Infrastructure (down 1.61%) and Reliance Power (down 0.02%) declined.
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State run coal miner Coal India shed 0.16%.
Metal & mining stocks were also mixed. JSW Steel (down 0.2%), Bhushan Steel (down 1.24%), Hindustan Copper (down 0.65%), Vedanta (down 0.29%), Steel (down 0.65%) and NMDC (down 0.04%) declined. Hindalco Industries (up 0.47%), Hindustan Zinc (up 0.35%), Jindal Steel & Power (up 0.01%), Tata Steel Authority of India (Sail) (up 1.58%), and National Aluminum Company (up 2%) gained.
Cadila Healthcare skidded 6.6% after consolidated net profit fell 28.93% to Rs 337.60 crore on 0.51% increase in total income to Rs 2427.10 crore in Q2 September 2016 over Q2 September 2015. The result was announced during trading hours today, 26 October 2016.
Multi Commodity Exchange of India rose 2.46% after net profit rose 23.08% to Rs 37.65 crore on 5.97% rise in total income to Rs 95.43 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 18% to Rs 55.35 crore in Q2 September 2016 over Q2 September 2015. EBITDA margin stood at 58% and profit after tax (PAT) margin was 39% in Q2 September 2016.
MCX's market share in commodity derivative space increased to 89.49% in Q2 September 2016 from 84.13% in Q2 September 2015. The average daily turnover (ADT) traded on the exchange has increased by 12% to Rs 25165 crore in Q2 September 2016 over Q2 September 2015. The total number of commodity futures contracts traded on the exchange increased by 3% to 61 million lots in Q2 September 2016 from 59 million lots in Q2 September 2015.
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