Sensex loses 100 points, Nifty falls below its 8600 mark
- Author: Darren Santiago Oct 27, 2016,
Oct 27, 2016, 15:21
The traders were cautious in their approach of liquidating bets ahead of the October derivatives expiry.
"Selling pressure was triggered by disappointing quarterly results and growing worries over the rise in the banking sector's NPA levels", Anand James, Chief Market Strategist, Geojit BNP Paribas Financial Services, told IANS.
The BSE Sensex dropped 0.42 percent, or 116.75 points to trade at 27719.76. The index had lost 342.57 points in the previous two sessions.
On the volumes front, 26.99 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.
F&O rollovers at 57%: Marketwide rollover of F&O contracts to the November series stood at 57 per cent on a D-1 basis against average rollover of 59 per cent seen in last three series. "IT, pharma and aviation stocks traded with mix sentiments, while auto stocks witnessed a healthy recovery from lower levels".
The BSE mid-cap index falls 0.45 per cent and small-cap index declines 0.1 per cent. Adani Power was the top loser from the mid-cap space, down 4 per cent to Rs. 25.85.
Back home, foreign institutional investors sold shares worth Rs. 325 crore while domestic institutional investors bought shares worth Rs. 333 crore on Monday.
McDonald's Corporation Shakes Up C-Suite to Revive Sales (MCD)
The consensus price target (PT) of $127.83 means that the Company shares are likely to increase by 14.9 per cent in the short run. The Return on Equity (ROE) value stands at 0%. (NYSE: MCD ) last posted its quarterly earnings results on Tuesday, July 26th.
Shares of country's largest carmaker Maruti Suzuki fell 0.21 per cent after the company posted 60.18 per cent growth in net profit at Rs 2,398 crore for the September quarter.
Also, Hero MotoCorp Ltd has posted a net profit of Rs 1,004 crore for the quarter ended September 30, 2016 as compared to Rs 786 crore for the quarter ended September 30, 2015.
The share prices of Tata Group companies remained in the red for the third straight session after it unceremoniously removed Cyrus Mistry as the chairman. Shares of Tata Motors, HDFC Bank, Axis Bank, and SBI led the decline for the market. Indian Hotels, Oriental Bank of Commerce, Tata Chemicals, Tata Global Beverages.
Key indices in France, Germany and the United Kingdom were lower by up to 1.04 per cent.
Most other Asian indices closed lower following worries over oil production. The Shanghai Composite Index too inched lower by 0.24 per cent. The losses for the Nifty 50 index were higher in percentage terms than those for the Sensex.
European stocks edged higher in their afternoon trade with corporate earnings dominating market moves.