Dalal Street continues to fall; Benchmark indices down; FMCG, IT, Metal sectors down

The equity benchmarks ended lower for the third straight day with banks and IT stocks coming under selling pressure amid weak global cues.

At close, the Sensex was down 313.90 points or 0.44 percent at 71,186.86, and the Nifty was down 109.70 points or 0.51 percent at 21,462.30.

Top losers on the Nifty included LTIMindtree, HDFC Bank, NTPC, Titan Company, and Asian Paints, while gainers were Sun Pharma, Cipla, Tech Mahindra, Tata Motors and Axis Bank.

Among sectors, bank, FMCG, IT, metal, and power closed 0.3-1 percent down. Auto, capital goods, healthcare, oil & gas, and realty were up 0.3-0.7 percent.

BSE midcap and smallcap indices ended flat.

The rupee closed at 83.1225 against the U.S. dollar


RailTel Corporation: Shares of RailTel Corporation closed 0.37 percent lower despite the company receiving a work order from South Central Railway worth Rs 82.41 crore. The order includes comprehensive ground infrastructure works for provisions of 4G LTE-R in 523 RKM of the Secunderabad division in South Central Railway.

Aarti Industries: Shares of Aarti Industries went up 5.1 percent after the company signed a long-term contract worth Rs 6,000 crore with a multinational conglomerate for the supply of a niche specialty chemical.

Oracle Financial Services: Shares of Oracle Financial Services rallied 27.4 percent after the company’s net profit jumped nearly 70 percent on-year to Rs 740.8 crore, and revenue from operations jumped 26 percent to Rs 1,823.6 crore.

ICICI Prudential Life Insurance: ICICI Prudential Life Insurance stock fell 5.43 percent after disappointing Q3 results. The insurer’s Q3 VNB (value of new business) declined 29.5 percent YoY to Rs 436 crore.

Balaji Amines: Shares of Balaji Amines fell 2.22 percent even after the company received BIS Certification for the product ‘Morpholine’ from the Bureau of Indian Standards. This certification will help the company regulate the quality of the product which is mandatory for the supply of Morpholine in India.

Nazara Technologies: Shares of Nazara Tech fell 2.59 percent, reversing the gains in the early morning after the company’s board of directors approved a preferential allotment of equity shares to raise to Rs 250 crore from Nikhil Kamath of Zerodha, and other investors.

NHPC: Shares of NHPC fell 3.15 percent after the government plans to divest a 3.5 percent stake in the PSU through Offer For Sale at a floor price of Rs 66 per share.