Post Session: Sensex ends 87 pts lower, Nifty settles below 8,700; Tata group shares fall

25/10/2016 16:37

The Indian benchmark indices ended tad lower on Wednesday, led by losses in frontline bluechip such as Tata Steel, M&M, Idea Cellular, GAIL and HUL, HDFC, Bharti Airtel and TCS, as sentiments remained weak in the absence of any positive trigger.

The 30-share BSE SENSEX closed at 28091.42, down by 87.66 points or by 0.31 per cent, and the NSE Nifty ended at 8691.3, down by 17.65 points or by 0.2 per cent.

During the day’s trade, the BSE Sensex touched intraday high of 28211.41 and intraday low of 28013.69, while the NSE Nifty touched intraday high of 8722.65 and intraday low of 8663.45.

On the corporate front, shares of Tata group companies witnessed selling pressure after Tata Sons removed Cyrus Pallonji Mistry as chairman of the conglomerate and appointed Ratan Tata, chairman of Tata Trusts as interim chairman for four months.

The top losers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1303.00,-2.72%), Tata Steel Ltd. (Rs. 415.50,-2.51%), GAIL (India) Ltd. (Rs. 434.90,-2.02%), Hindustan Unilever Ltd. (Rs. 832.05,-2.00%), Oil And Natural Gas Corporation Ltd. (Rs. 289.10,-1.30%), among others.

On the flip side, Adani Ports & Special Economic Zone Ltd. (Rs. 312.60,+9.43%), Dr. Reddy’s Laboratories Ltd. (Rs. 3200.45,+3.59%), ICICI Bank Ltd. (Rs. 289.10,+1.60%), Axis Bank Ltd. (Rs. 529.05,+1.49%), Bharti Airtel Ltd. (Rs. 311.05,+1.48%), were among top gainers on BSE.

On the sectoral front, IT and FMCG stocks were among top losers on BSE, falling as much as 0.84 per cent and 0.83 per cent respectively.

The Market breadth, indicating the overall strength of the market, was flat. On BSE out of total shares traded 3179, shares advanced were 1431 while 1496 shares declined and 252 were unchanged.

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