Sensex ends 266 points lower, Nifty below 9,850; auto, pharma, realty drag

Catch all that happened in the market here

3:55 PM

Analyst View:

 

Anand James, Chief Market Strategist, Geojit Financial Services says: Markets continue to appear guarded against any further regulatory measures, and persisted with profit booking. High beta stocks withdrew sharply and bear grip was especially strong on realty sector in which SEBI list found many companies. Global cues have also remained subdued due to geopolitical tensions. The corrections however may have helped address valuation concerns raised while Nifty was well above 10,000.

 

3:49 PM

Realty sector fell over 5% in todays trade: DLF fell over 6% followed by India Bulls Real Estate (down 5.7%), Prestige Realty (down 4%), Sobha (down 2.6%) and Unitech (down 1.9%)

3:45 PM

Nifty IT index was the only sectoral index that ended in green. 

Source: NSE

3:43 PM

Tata Motor's shares ended over 8% lower to their lowest in over a year after the company's 42% rise in June-quarter profit, helped by a one-off gain related to changes to Jaguar Land Rover's pension plans, failed to please investors.

3:42 PM

Top gainers and losers on Sensex

Source: BSE

3:39 PM

Broader markets underperformed the enchmark indices with BSE Midcap and BSE Smallcap down 2.6% ans 2.9% respectively

3:38 PM

Extending losses for the fourth straight session, the benchmark indices ended pared some intra-day losses but still ended lower led by losses in pharma, auto and banking stocks. Individual stocks also dragged the sentiment on poor June-quarter result show. 

The S&P BSE Sensex ended the day at 31,531, down 266 points while the broader Nifty50 index settled at 9,820, down 88 points

3:27 PM

Four companies – Bharat Forge, Bharat Heavy Electricals Limited (BHEL), Bharat Electronics and Manpasand Beverages – have announced bonus shares on Thursday.

 

The board of directors of Bharat Forge and Manpasand Beverages have recommended issuing bonus shares to holders of equity shares of the companies in the ratio of 1:1 i.e. one bonus equity share for every one fully paid-up equity shares held.

Click here for more details

3:17 PM

Broader markets

Midcap index sees biggest intra-day fall since November 2016 while Smallcap witnesses biggest fall in 11 months

3:16 PM

The broader markets underperformed the benchmark indices with the BSE Midcap and BSE Smallcap indices falling 2.8% and 3.7% respectively

3:12 PM

Dr Reddy's Labs plunged 5% after it said Bachupally manufacturing unit (in Hyderabad) is not renewed by German regulator post inspection.

 

The unit won't be able to despatch to European Union until next inspection, it added.

3:08 PM

ADAG stocks crack

ADAG stocks cracked in  todays trade with Reliance Infra dropping almost 9%, Reliance Defence down over 7%, Reliance Communication losing 6% and Reliance Capital shedding 4.5% 

3:02 PM

Market Check

The benchmark indices extended fall in the last leg of trade with Nifty50 breaching 9,800 levels and Sensex falling over 350 points led by drop in pharma, auto and banking stocks.

At 3:00 pm, the BSE Sensex was trading at 31,516, down 280 points while the broader Nifty50 index was ruling at 9,789, down 118 points

2:51 PM

Adani Power fell 9% after the company's consolidated net loss widened to Rs 454 crore in Q1, from Rs 232.6 crore in year-ago quarter.

 

Revenue growth was tepid, rising 3.8% to Rs 5,590 crore from Rs 5,386 crore on year-on-year basis.

adani

2:34 PM

European shares slipped in early deals on Thursday, extending losses as shares in cyclical sectors fell and some large firms went ex-dividend, while earnings spurred some large individual company moves.

 

The pan-European STOXX 600 index was down 0.2% as basic resources and banks fell, while euro zone blue chips also declined 0.2%.

 

Britain's FTSE 100 dropped 0.6% as heavyweights Anglo American, BT Group, Rio Tinto and Lloyds fell after going ex-dividend, while Germany's DAX retreated 0.1%.