BackSensex, Nifty snap six-session gains on profit booking
The Sensex lost 334.54 points, or 0.85%, to close at 38,963.41The Nifty fell 73.50 points, or 0.63%, to close at 11,588.35
PremiumMumbai: India’s benchmark equity indices snapped their six-session gaining streak and closed lower on Tuesday as traders booked profit.
The S&P BSE Sensex lost 334.54 points or 0.85% to close at 38,963.41, while the Nifty 50 index fell 73.50 points or 0.63% to close at 11,588.35 points.
The S&P BSE Mid-Cap index was down 0.09%. The S&P BSE Small-Cap index rose 0.48%. The market breadth was tilted on the selling side. On the BSE, 1263 shares rose and 1294 shares fell. A total of 202 shares were unchanged.
Infosys tanked 16.21% to close at ₹643.30 following a whistleblower complaint alleging unethical accounting practices in the company. These complaints have been placed before the audit committee as per the company's practice and will be dealt with in accordance with the company's whistleblower policy.
The Nifty IT index was down 4.81% to close at 14,668.70, reversing the previous session's gains. MphasiS slipped 2.86%, Hexaware Technologies ended 1.8% lower, HCL Technologies dropped 1.26%, Tech Mahindra lost 0.84%, Persistent Systems fell 0.66%, MindTree was down 0.63% and Oracle Financial Services Software declined 0.03%. Wipro bucked the trend, rising 1.87%.
Ambuja Cements fell 5.71% to close at ₹195.80 despite the cement maker reporting a 34% year-on-year (YoY) rise in its consolidated net profit to ₹385.09 crore for the September quarter. Sales rose a muted 1% to ₹6077.62 crore in Q2 September 2019. The result was announced after market hours on Friday.
Granules India surged 12.17% to close at ₹113.85 after its consolidated net profit jumped 58.96% (YoY) to ₹95.79 crore in September quarter. Its revenue from operations rose 20.42% to ₹699.53 crore. The result was announced during market hours on Tuesday. The company said the US Food & Drug Administration has approved the abbreviated new drug application (ANDA) filed for fexofenadine hydrochloride tablets USP in 60 mg and 180 mg strength.
Shree Cement jumped 4.82% to close at ₹19561 as the company’s consolidated net profit surged 50% (YoY) to ₹310.62 crore in the second quarter.
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