INSUBCONTINENT EXCLUSIVE:
NEW DELHI: A day after logging gains, the domestic equity market returned to the negative territory on Tuesday on losses in select auto,
FMCG, bank and energy heavyweights amid a record-setting fall in the rupee and uninspiring global cues.
Cautious investors kept their bets
restrained ahead of corporate earnings, while absence of any positive trigger kept sentiments subdued.
Analysts said the market may slide
further due to concerns around rising crude oil prices after US sanctions on Iran comes into effect next month
Nomura (India) said a further 5-10 per cent downside in the Indian stock indices in the near term cannot be ruled out
reduce combined Ebitda margins of IOC, HPCL and BPCL by Rs 6,500 crore this financial year.
The 30-share Sensex ended 175 points, or 0.51
per cent, down at 34,299, with 15 stocks ending in the red
The Nifty50 finished 47 points, or 0.45 per cent, lower at 10,301, with 25 stocks ending in the green and 25 in the red
BSE Midcap and Smallcap indices fell in sync with the benchmark Sensex
In terms of percentage loss, they were slightly better off than Sensex
The midcap index settled 0.16 per cent down at 13,703 while the smallcap index closed with a 0.45 per cent loss at 13,501.
Let's walk you
through the highlights of Tuesday's session:Tata Motors nosedivedShares of Tata Motors plunged nearly 20 per cent intraday to touch its
52-week low of Rs 170.65 on BSE
However, it recovered slightly and ended the day at Rs 184.25, down 13.40 per cent
The stock plunged after the company-owned Jaguar Land Rover (JLR) reported a 12.3 per cent drop in global sales at 57,114 units in
September, hit by lower demand in China
Bloomberg reported that 11 lakh shares of the company changed hands in a single block deal today
Sensex movers shakersAfter a choppy trade, the benchmark Sensex finished with Tata Motors (down 13.40 per cent) as the top loser
Asian Paints (down 3.95 per cent), Maruti Suzuki (down 3.07 per cent), Hindustan Unilever (down 2.73 per cent), Bharti Airtel (down 2.29 per
cent) and ONGC (down 1.94 per cent) declined in that order
Adani Ports (up 4.52 per cent), HDFC (up 2.59 per cent), Vedanta (up 2.44 per cent), Tata Steel (up 2.23 per cent), Coal India (up 1.96 per
cent) and YES Bank (up 1.49 per cent) emerged as the top Sensex gainers
Rupee hit record lowThe domestic currency touched fresh record low of 74.35 against the US dollar today after Brent crude breached the $84
a barrel mark again and the American currency strengthened overseas
Unabated foreign fund outflows amid strong demand of US currency weighed on the rupee
At the time of writing this report, the domestic unit was trading 22 paise lower at 74.29.
ILFS stocks in lower circuitShares of the ILFS
group companies hit their lower circuit levels on Tuesday after the parent company on Monday said it was unable to service obligations for
inter-corporate deposit due October 8
ILFS Investment Managers shares slipped 5 per cent to Rs 9.32, while ILFS Engineering and Construction and ILFS Transportation (ILFT) dipped
10 per cent and 9.91 per cent, respectively
Sectoral indices plungeBSE Consumer Durables plunged 3.91 per cent, emerging as the top sectoral loser on BSE, with Titan (down 7.67 per
cent), VIP Industries (down 5 per cent), PC Jeweller (down 3.74 per cent), Rajesh Exports (down 2.98 per cent) and Crompton Greaves Consumer
Electricals (down 1.54 per cent) as the top losers
Symphony (up 4.65 per cent), Voltas (up 1.04 per cent) and Whirlpool of India (up 0.91 per cent) finished with gains in the index
BSE Auto index cracked 2.62 per cent
Bigwigs, including Tata Motors, Maruti, Eicher Motors, Mahindra Mahindra and Bajaj Auto, dragged the index down
Sugar stocks offered sweet dealMost sugar stocks jumped amid increased demand of the commodity by stockists and bulk consumers
Uttam Sugar Mills (up 15.24 per cent), Dhampur Sugar Mills (up 12.39 per cent), Dwarikesh Sugar Industries (up 10.46 per cent), Bajaj
Hindusthan Sugar (up 10.17 per cent), Piccadily Agro Industries (up 10 per cent), Balrampur Chini Mills (up 9.85 per cent), Triveni
Engineering Industries (up 9.08 per cent), Thiru Arooran Sugars (up 7.88 per cent), KCP Sugar Industries (up 6.82 per cent) and Dalmia
Bharat Sugar Industries (up 6.15 per cent) emerged as the top gainers among the sugar stocks.
450 stocks hit 52-week lows on NSEAs many as
455 stocks, including Arvind, Bank of Baroda, Bharti Airtel, Bombay Dyeing, CARE Ratings, Central Bank of India, Century Textiles
Industries, Concor, Dilip Buildcon, DHFL, Emami, Godrej Properties, Godrej Industries, Godrej Agrovet, Grasim Industries, InterGlobe
Aviation and Maruti Suzuki India, hit 52-week lows on NSE.
MACD bullish on 11 stocksMomentum indicator moving average convergence
divergence, or MACD, on Tuesday, showed bullish crossovers on 11 counters on NSE
Among the stocks that saw bullish crossovers were, YES Bank, Adani Enterprises, Bharti Infratel, Apollo Hospitals and Puravankara
However, 10 counters, including Titan, HDFC Bank, Siemens, Star cement and Tijaria Polypipes, showed bearish crossovers on NSE.
