Indian market ends in red; Tata Motors tanks by 10%
Days after demonetisation of big notes has turned out to be biggest night mare for Indian market. The domestic equity indices have declined to fourth-consecutive days. Sensex closed at 26,304.63 down by 514.19 points or 1.92%, while Nifty at 8108.45 below 187.85 points or 2.26%.
Shares of Hindustan Petroleum Corporation Limited slumped by over Rs 30 or 6.89% on BSE, trading at Rs 417.60. The company announced its Q2 result in which it reported net profit of Rs 701.32 crore for second quarter September 30, 2016, against net loss of Rs 317.13 crore in the corresponding period of the previous year.
Shares of Maruti Suzuki took a massive beating of investors on today's trading session. The shares slumped by over Rs 230 or 4.47% on BSE, trading at Rs 4908.45. The company today announced to set up a Japan-lndia Institute of Manufacturing (JIM) in Mehsana, Gujarat.
In one weeks, the shares of Maruti has declined by 13.45%.
Bank Nifty was trading at 19,726.65 slipping by 12.15 points or 0.06%. Private Banks were the top loser on the index.
The losers were - IndusInd Bank at Rs 1151.35 down by Rs 40 or 3.44%, followed by Yes Bank at Rs 1190 (2.05%), Kotak Mahindra Bank at Rs 800.10 (1.90%), Federal Bank at Rs 76.20 (1.42%), Axis Bank at Rs 494.85 (0.78%) and ICICI Bank at Rs 275.90 (0.18%). HDFC Bank was the only gainer by trading at Rs 1283 up by Rs 8 or 0.59%.
While public sector banks were trading positive in the range of 0.50% - 8%.