Nifty Ends Below 11,100, Sensex Falls 289 Points
MUMBAI: Indices fell for the second consecutive day on July 30 with Nifty ended below 11,100 level on the back of selling in PSU banks, metal, and auto.
At close, the Sensex was down 289.13 points at 37,397.24, while Nifty was down 103.80 points at 11,085.40. About 567 shares have advanced, 1907 shares declined, and 109 shares are unchanged.
Yes, Bank, IndusInd Bank, Indiabulls Housing, Hero Motocorp and Sun Pharma were among major losers on the Nifty, while gainers were Bharti Airtel, TCS, HCL Tech, ITC, and HUL.
Except IT, all other sectoral indices ended in the red led by PSU bank (down 4.9%), metal (down 3.2%), auto (down 2%), pharma (down 2%) followed by energy, FMCG and infra.
Tech Mahindra reported a 15.3 percent fall in its Q1FY20 net profit at Rs 959 crore against Rs 1,132.5 crore in the quarter ended March 2019.
The company’s rupee revenue was down 2.7 percent at Rs 8,653 crore against Rs 8,892.3 crore and dollar revenue was down 1.6 percent at $1,247.1 million against $1,267.5 million QoQ.
Earnings before interest and taxes (EBIT) fell 27.4 percent at Rs 992.8 crore, while margin was down 390 bps at 11.5 percent.
Axis Bank’s June quarter (Q1) profit grew sharply by 95 percent year-on-year to Rs 1,370 crore, but provisioning and slippages remained higher. It was supported by NII, other income, and operating profit. (IANS)