A post-result slide in shares of index heavyweight and cigarette major and index heavyweight ITC pulled key benchmark indices into the red from green in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was off 53.91 points or 0.20% at 26,784.23. The decline for the Sensex was higher in percentage terms than that for the 50-unit CNX Nifty index. The Nifty was currently off 5.35 points or 0.07% at 8,106.40. ITC tumbled after reporting flat bottom line in Q2 September 2015.
The Sensex hit its lowest level in more than two weeks when it lost 95.61 points or 0.36% at the day's low of 26,742.53 in afternoon trade. Earlier, the barometer index jumped 104.15 points or 0.39% at the day's high of 26,942.29 in mid-morning trade. The Nifty also hit its lowest level in more than two weeks when it fell 19.35 points or 0.24% at the day's low of 8,092.40 at the onset of the trading session. The Nifty rose 34.35 points or 0.42% at the day's high of 8,146.10 in mid-morning trade.
The market breadth indicating the overall health of the market turned negative from positive in afternoon trade. On BSE, 1,206 shares fell and 1,198 shares rose. A total of 163 shares were unchanged. The BSE Mid-Cap index was currently up 0.56%, outperforming the Sensex. The BSE Small-Cap index was current off 0.02%. The decline in this index in percentage terms was lower when compared with the Sensex's decline.
Overseas cues were negative. Asian stocks edged lower after Japan's central bank Bank of Japan refrained from introducing further easing, keeping its annual asset purchase target at 80 trillion yen ($660 billion), despite building expectations of stimulus amid disappointing economic data. US stocks finished slightly lower yesterday, 29 October 2015, succumbing to weaker-than-expected readings on gross domestic product and pending home sales a day after the Federal Reserve signaled a December rate increase remains possible.
ITC tumbled after reporting flat bottom line in Q2 September 2015. The stock was currently off 4.45% at Rs 334.20. The stock hit a high of Rs 351 and a low of Rs 331.40 so far during the day. The company's net profit rose 0.25% to Rs 2431.25 crore on 1.32% decline in total income from operations (net) to Rs 8904.23 crore in Q2 September 2015 over Q2 September 2014. The result was announced during trading hours today, 30 October 2015.
Kotak Mahindra Bank surged after reporting second quarter results. The stock was currently up 4.05% at Rs 690.50. The stock hit a high of Rs 692.65 and a low of Rs 662.50 so far during the day. The bank's net profit rose 28.12% to Rs 569.50 crore on 63.94% increase in total income to Rs 4621.38 crore in Q2 September 2015 over Q2 September 2014. The results are not comparable due to the merger of ING Vysya Bank with Kotak Mahindra Bank which became effective from 1 April 2015.
Yes Bank extended gains registered yesterday, 29 October 2015, triggered by the bank's strong Q2 September 2015 results. The stock was currently up 2.62% at Rs 763. The stock had risen 1.95% to settle at Rs 743.50 yesterday, 29 October 2015. The bank's net profit rose 26.49% to Rs 610.41 crore on 19.69% rise in total income to Rs 3995.34 crore in Q2 September 2015 over Q2 September 2014.
Most IT stocks declined. MphasiS (down 5.47%), Hexaware Technologies (down 3.71%), Persistent Systems (down 0.91%), Tech Mahindra (down 0.79%), Infosys (down 0.72%), HCL Technologies (down 0.58%) and Wipro (down 0.26%), edged lower. MindTree (up 0.02%), CMC (up 0.03%), TCS (up 0.07%) and Oracle Financial Services Software (up 1.19%) edged higher.
Most realty shares edged higher. Sobha (up 3.65%), Oberoi Realty (up 2.36%), Unitech (up 2.35%), Phoenix Mills (up 0.91%), D B Realty (up 0.88%), Indiabulls Real Estate (up 0.54%), Prestige Estates Projects (up 0.41%), DLF (up 0.29%), Anant Raj (up 0.13%) and Housing Development and Infrastructure (HDIL) (up 0.07%), edged higher. Parsvnath Developers (down 0.28%), Sunteck Realty (down 0.48%), Godrej Properties (down 0.58%) and Peninsula Land (down 0.67%), edged lower.
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