Sensex, Nifty slip on weak global cues; Tata Motors stock tanks 15.5%

The market breadth was negative with 621 shares advancing, 900 shares declining, and 511 remaining unchanged.

Feb 08, 2019 09:02 IST India Infoline News Service

Broker stock market crash
Equity benchmark indices opened in the negative zone amid weak global cues.The Sensex dropped 159 points to 36,812, while the Nifty is down 46 points to 11,024. The market breadth was negative with 621 shares advancing, 900 shares declining, and 511 remaining unchanged.

Shares of Tata Motors tumbled 15.5% after the company missed expectations in Q3FY19 at the consolidated level. It reported consolidated net loss at Rs26,992cr against net profit of Rs1,193cr in Q3FY18 and net loss of Rs1,049cr in Q2FY19.

In the broader market, BSE MidCap index was trading 26 points lower at 14,505, while BSE SmallCap index was ruling at 13,770, down by 16 points.

The Indian rupee has opened higher at 71.38/$ on the back of fall in crude oil prices.

BPCL, Titan, IndusInd Bank, Power Grid, and HPCL are trading higher on the NSE, while Tata Motors, Vedanta, Zee, Tata Steel, and ICICI Bank are trading lower.

Volatility index India VIX was down 0.22% to 15.59.

The most active stocks were Tata Motors, Reliance Industries, RCom, Aurobindo, and Reliance Capital.

Asian markets were trading lower on weak cues from Wall Street amid worries about global economic growth after the European Commission lowered its growth forecasts for eurozone.

Related Story