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( 08 Feb 2019)
Nifty at 11000, M&M falls 1% post Q3 results

The Indian benchmark indices have extended the morning loses and has been trading close to 0.5 percent in the late afternoon session on Friday. The shares of Mahindra & Mahindra fell 1.04 per cent after the company and its subsidiary Mahindra Vehicle Manufacturers reported a 60 per cent YoY rise in their consolidated net profit at Rs 1,476 crore for third quarter (October-December) of FY19. Revenue for the quarter rose 14 per cent to Rs 13,235 crore, against Rs 11,594 crore in the year-ago quarter.

At 14:36 hours, the SENSEX was trading at 36772.74 down by -198.35 points or by -0.54 per cent and then NSE Nifty was at 11001.6 down by -67.8 points or by -0.61 per cent. The BSE Sensex touched intraday high of 36885.58 and intraday low of 36581.93 The NSE Nifty touched intraday high of 11041.2 and intraday low of 10951.75.

The top gainers of the BSE Sensex were Kotak Mahindra Bank Ltd. (Rs. 1306.60,+1.81%), Bajaj Finance Ltd. (Rs. 2728.00,+1.12%), HDFC Bank Ltd. (Rs. 2139.00,+1.04%), HCL Technologies Ltd. (Rs. 1067.00,+0.56%), Bharti Airtel Ltd. (Rs. 312.50,+0.50%), among others.

The top losers of the BSE Sensex were Tata Motors Ltd. (Rs. 151.45,-17.20%), Tata Motors Ltd. (Rs. 81.55,-13.61%), Vedanta Ltd. (Rs. 154.25,-5.63%), Larsen & Toubro Ltd. (Rs. 1266.00,-2.63%), Tata Steel Ltd. (Rs. 475.10,-2.56%), among others.

Among sectors, BSETECk index was at 7753.14 up by 16.02 points or by 0.21%. Dish TV India Ltd. (Rs. 30.70,+7.72%), Bharti Infratel Ltd. (Rs. 324.50,+5.79%), Reliance Communications Ltd. (Rs. 5.41,+4.24%), Just Dial Ltd. (Rs. 485.20,+1.04%), Himachal Futuristic Communications Ltd. (Rs. 22.25,+0.91%),. On the other hand, Metal index was at 10366.49 down by -263.15 points or by -2.48%. Steel Authority of India (SAIL) Ltd. (Rs. 45.55,-6.28%), Vedanta Ltd. (Rs. 154.25,-5.63%), Jindal Steel & Power Ltd. (Rs. 131.80,-3.27%), Tata Steel Ltd. (Rs. 475.10,-2.56%), JSW Steel Ltd. (Rs. 267.10,-2.11%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2667, shares advanced were 958 while 1567 shares declined and 142 were unchanged.