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Nifty ends Oct series below 8150, Sensex slumps 202 pts

Oct 29, 2015, 07.04 PM | Source: Moneycontrol.com

BHEL, Axis Bank, Coal India, SBI and Sun Pharma were major losers in the Sensex while Dr Reddy’s labs, Vedanta, Tata Motors and Lupin were up.

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Nifty ends Oct series below 8150, Sensex slumps 202 pts

BHEL, Axis Bank, Coal India, SBI and Sun Pharma were major losers in the Sensex while Dr Reddy’s labs, Vedanta, Tata Motors and Lupin were up.

17:02

TheNewsInternational Team

The market skid for four straight sessions as F&O expiry added pressure on indices. The Nifty ended October series at 8111.75, down 59.45 points or 0.7 percent while Sensex was down 201.62 points or 0.7 percent at 26838.14 dragged majorly by banks, infra and IT stocks.

Corporate earnings, the Federal Reserve stance on interest rates and the Bihar elections will be the three factors driving market sentiment near term, Yogesh Radke, Head of Quantitative Research at Edelweiss Securities says. He expects the Nifty to slip to 7800 in the November series.

Angel Broking’s derivatives specialist Siddharth Bhamre believes the trend has turned lower going into November while 8,380-8,400 proved to be a real resistance in October series.

On the global front, the US Federal Reserve has stuck to the course for now. It has not hiked key rates in its October policy meeting. What has taken the markets by surprise is the some-what hawkish stance taken by Chairman Janet Yellen hinting at a possible rate hike in December.

Buzzing stocks

BHEL, Axis Bank, Coal India, SBI and Sun Pharma were major losers in the Sensex while Dr Reddy’s labs, Vedanta, Tata Motors and Lupin were up.

Private sector lender Yes Bank’s July-September quarter earnings beat analysts’ as profit increased 26.4 percent year-on-year to Rs 610.4 crore, driven by strong net interest income, other income and operating profit. However, higher provisions and tax cost limited profitability. Net interest income, the difference between interest earned and interest expended, jumped 29.5 percent to Rs 1,108.5 crore in same period, boosted by credit growth.

Among the midcaps, Just Dial tanked 12 percent after it posted September quarter results last evening.

14:00

Sensex ends 202 pts lower, Nifty below 8150; banks tank

BHEL, Axis Bank, Coal India, SBI and Sun Pharma were laggards while Dr Reddy’s Labs, Vedanta, Tata Steel, Tata Motors and Lupin were gainers.

Read More »

13:00

Sensex, Nifty remain sluggish; Dr Reddy’s, Tata Motors upRead More »

Dr Reddy’s Labs, Tata Motors, Lupin, Tata Steel and Vedanta are top gainers while BHEL, Axis Bank, Bahrti Airtel, GAIL and Sun Pharma.

Read More »

12:00

Nifty weak ahead of F&O expiry; HDFC, Tata Motors leadRead More »

HDFC, Tata Motors, Dr Reddy’s Labs (ahead of Q2 earnings), Vedanta and Tata Steel topped buying list on Sensex, up 1-2 percent. BHEL was biggest loser, down more than 4 percent followed by ITC, Axis Bank, Sun Pharma, Bharti Airtel, Maruti Suzuki and Coal India with 1-2 percent loss.

Read More »

11:00

Nifty struggles to hold 8150; banks, FMCG laggardsRead More »

Bank and FMCG stocks are under heavy selling pressure. BHEL, Axis Bank, Bharti Airtel, GAIL and Maruti Suzuki are major losers in the Sensex.

Read More »

10:00

Sensex hovers around 27000 amid pressure; DRL up, Axis downRead More »

Dr Reddy’s Labs gained more than 2 percent ahead of earnings. Profit is seen rising 12 percent year-on-year to Rs 642.86 crore and revenue is likely to increase 11 percent to Rs 3,978 crore during July-September quarter, according to a CNBC-TV18 poll.

Read More »

09:15

Sensex, Nifty flat; Ambuja Cements down, Cipla gainsRead More »

Vedanta, Cipla, ICICI Bank, ONGC, BHEL, Cairn India and HCL Tech were early gainers. HUL, Sun Pharma, HDFC Bank, Wipro, Hero Motocorp, Power Grid Corp, Ambuja Cements and BPCL lost ground.

Read More »

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