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Benchmark indices finished lower weighed down by Index heavyweights including Tata Motors, RIL and ITC. Weak quarterly earnings coupled with Greece fiscal woes also dampened the sentiments of the market participants.
Provisionally, the Sensex lost 82 points to end at 27,562 and the Nifty dipped 20 points to close at 8,351.
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(updated at 3.30 PM)Benchmark indices have extended losses in the late noon trades in the absence of any fresh triggers. Weak quarterly earnings coupled with Greece fiscal woes also dampened the sentiments of the market participants.
Meanwhile, caution prevailed ahead of the expiry of May derivatives contracts due on Thursday and GDP data scheduled on Friday.
By 2.25PM, the Sensex is lower by 121 points at 27,523 and the Nifty slipped by 37 points at 8,334.
Among broader markets, BSE Midcap and Smallcap indices are down 0.2% and 0.4% each.
The market breadth is weak on the BSE with 1,482 shares declining versus 1,024 shares advancing.
RUPEE
For the second straight day, the rupee depreciated by 11 paise to 63.68 against the dollar on Tuesday at the Interbank Foreign Exchange market on the back of increased demand for the American unit from importers.
BUZZING STOCKS
BHEL and Tata Motors are trading lower between 0.3-2% ahead of the Q4 results.
ITC has extended yesterday's fall and is down over 1%. The company's March quarter results that were announced post market hours on Friday came in lower than expectations.
ONGC Videsh (OVL), the unlisted overseas arm of state-run petroleum explorer Oil and Natural Gas Corporation (ONGC), said its net profit for the financial year ended march (2014-15) stood at Rs 1,904 crore, a 57% slump as compared to the previous year (2013-14). ONGC has shed 1.5%.
GAIL announced after market hours yesterday that as a first step to usher in commencement of project work on the first phase of Jagdishpur-Haldia Pipeline, Dharmendra Pradhan, Union Minister of State (Independent Charge) for Petroleum and Natural Gas inaugurated the project office in Patna yesterday. The stock is the top Sensex gainer, up almost 2%.
Hero MotoCorp shares rises nearly 1% on the back of higher volumes.
Sun Pharmaceutical Industries has lost over 1%and was also headed for a second day of losses on profit-taking after the stock surged 6.1% last week.
Shares of Nestle India have dropped nearly 2% A recent media report said the Food Safety and Drug Administration (FDA) in Uttar Pradesh has found high lead content during routine tests on two dozen packets of instant noodles, manufactured by Nestle in India.
Shares of Lambodhara Textiles have moved higher by 9% to Rs 449, also a lifetime high on the NSE, extending their month-long rally on the bourses.
Shares of Canara Bank have fallen 2.4% to Rs 332, also fresh 52-week lows on the NSE, after the public sector lender bank’s asset quality deteriorated further during the recently concluded quarter.
