After opening nearly flat on Monday, key domestic equities slumped by afternoon deals, tracking dull global cues, and led by losses in ITC, Reliance Industries and Kotak Mahindra Bank. BSE benchmark Sensex fell 299.48 points, or 0.45 per cent to close at 66,384.78, while broader NSE Nifty50 slipped 78.55 points, or 0.4 per cent to 19,666.45.
ITC slumped over 4 per cent today after the company’s board gave in-principle approval to demerge its hotel business. The FMCG major’s stock closed at Rs 469.50 on BSE.
Kotak Mahindra Bank was among the biggest laggards in the Sensex and Nifty pack, down almost 4 per cent at Rs 1,890, after the private lender’s consolidated net profit for the April-June quarter jumped 51 per cent YoY to Rs 4,150 crore.
ADVERTISEMENT
Reliance Industries Ltd (RIL) was also among the top losers today, as the stock ended 2 per cent lower, after it reported a nearly 11 per cent decline in consolidated net profit at Rs 16,011 crore for the first quarter ending June as against Rs 17,955 crore in the same period last year.
ITC, Kotak Mahindra Bank, RIL, JSW Steel, Tata Steel, Britannia, LTI Mindtree, Hindustan Unilever, Apollo Hospital, Maruti, and Nestle India were the top losers at this hour.
IndusInd Bank, SBI Life, Dr Reddys, M&M, UltraTech Cement, Power Grid, Bajaj Finserv, Hero MotoCorp, Tata Consumer, Coal India and Adani Ports were the top gainers today.
Broader markets also extended losses today, as Nifty Midcap Select ended 0.68 per cent lower, Nifty 100 fell 0.34 per cent, and and Nifty 200 tanked 0.33 per cent. Nifty Smallcap 100 gained 0.37 per cent today, Nifty Smallcap 50 jumped 0.27 per cent, and Nifty Smallcap 250 rose 0.22 per cent.
ADVERTISEMENT
Sectorally, Nifty FMCG slumped 1.87 per cent, Nifty Metal fell 0.80 per cent, Nifty Oil & Gas tanked 0.77 per cent, while, pharma and healthcare indices gained 0.43 per cent each.