On the political front, Hearing Congress-JD(S) plea against Karnataka Governor inviting BJP to form the government, the Supreme Court ordered for a floor test to be conducted tomorrow in Karnataka assembly at 4 PM.
All sectoral indices are in the red barring FMCG, with the PSU Bank and Pharma indices losing 0.90% each.
Shares of RCOM rebounded after the company said that it is in talks with Ericsson to allow the company to exit NCLT process.
Strides Shasun stock declined 21.5% after it has reported 2% yoy decline in the revenue to Rs664.2cr.
Shares of Bajaj Finance gained 4.5% after the company’s net profit was higher due to superior asset quality performance, which led to lower provisions.
Shares of Avenue Supermarts slipped over 6%. Promoter Radhakishan Damani will sell up to 1% stake in the open market.
Shares of Voltas dropped 7% after poor March quarter numbers. Net profit during the quarter decreased by 2.4% yoy to Rs195.6cr as compared to Rs200.3cr in Q4FY17.
At 3:11 PM, the BSE Sensex was down 314 points at 34,835, and the Nifty was down 88 points at 10,593.
In the broader market, the BSE Midcap was marginally by 0.95%, while the BSE Smallcap was down by 1.03%.
Bajaj Finance (+3.8%), Bajaj Auto (+2.5%), Tech Mahindra (+2.3%), HUL (+1.7%) and ITC (+1.3%) were the top gainers on the NSE.
Bharti Airtel (-2.7%), ICICI Bank (-2.4%), UltraTech (-2.3%), Wipro (-2.2%) and Tata Motors (-1.7%) were the top losers on the NSE.
Out of 2,044 stocks traded on the NSE, 768 advanced, 878 declined and 398 remained unchanged today.
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