Indian markets bleed as Auto, Banking, Pharma stocks face pressure
Track the Indian markets, BSE Sensex, NSE Nifty LIVE with Zee Business.
Motherson Sumi plunged on the BSE exchange despite of positive June quarter results. The share price of the company slumped by Rs 26 or 7.49% to Rs 326.20. It opened at Rs 355 slightly higher from previous closing of Rs 352.60. The company reported a net profit of Rs 439.3 crore, a rise of 15.8%, for the quarter ended on June 30 as compared to Rs 379.3 crore for the quarter ended on June 30,2015.
Aditya Birla Nuvo surged over Rs 24 or 1.50% to Rs 1600.45 on BSE exchange after its parent AB Group plans to merge the business. Thee AB Group plans to merge Grasim and AB Nuvo. The shares of AB Nuvo opened at Rs 1590, higher from its previous closing of Rs 1576.85.
Adani Ports was top gainer on the indexes after reporting healthy net profit. The company recorded strong 31% rise in consolidated net profit at Rs 835.71.
Indian markets were trading sluggish after RBI made no changes in the policy rate. The Sensex was flat at 28,084.08 from its previous closing, while Nifty too followed the same sentiments, by trading flat at 8678.80. The investors were cautious on making any call this Indian exchanges surrounded by mixed global cues. The Sensex was negative with 14 advances and 16 declines, while Nifty traveling similarly with 23 advances, 27 declines and 1 remaining unchanged.