Stocks in focus: PNB, SpiceJet gain on good results, NMDC falls

The Sensex ended 102 points lower at 27459.23 and the Nifty dipping by 24 points to stand at 8337 on Tuesday.  

In the morning trade the 30-share index was trading higher by 100.08 points, or 0.36 per cent, at 27,661.46, with teck, IT, consumer durables, capital goods, healthcare and banking sectors leading the recovery.

NSE Nifty had ended below the 8400 level on Monday down 160.55 points at 8361 while the 30-share BSE Sensex plunged 550.93 points to 27561.38.

Public Sector major NMDC has been one of the biggest losers for the day as the company's sahres fell by almost 4.97 per cent to stand at Rs 105.15.

Punjab National Bank released their results where first quarter net profit at Rs 721 crore. Gross non-performing loans at Rs 6.47 per cent compared to 6.55 per cent in the previous quarter.Shares of the  rose 5.32 per cent to stand at Rs 142.50 on the BSE.

Spice Jet turned out to be one of the bigest gainers of the day with a 5.77 per cent on expectations of good results which the company announced just as the markets closed. The low-cost carrier reported their June-quarter net profit at Rs 718.5 million vs loss of  Rs 1.24 billion year ago.

Glenmark Pharmaceuticals was down 4.21 per cent after a US court ruled that the Indian drugmaker's generic Finacea, infringed Bayer AG's patent.

Union Bank of India too released its results with its Q1 net profit standing at Rs 519 crore. Net non-performing loans at 5.53 per cent of total advances versus 4.96 per cent in previous quarter. Shares of the bank were up 1.95 per cent at Rs 157.

Tata Motors still reeling under pressure on the back drop of weakness in the Chinese equities that could affect the sales of its luxury-arm JLR fell by 1.89 per cent.