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Sensex falls 112 pts on earnings worry, derivatives expiry

Mumbai: The benchmark BSE Sensex today declined by another 112 points to close at over one-week low of 27,531.41 due to continued selling in heavyweights such as ITC, Tata Motors and Vedanta on muted earnings

PTI [ Updated: May 26, 2015 16:41 IST ]
sensex falls 112 pts on earnings worry derivatives expiry
sensex falls 112 pts on earnings worry derivatives expiry

Mumbai: The benchmark BSE Sensex today declined by another 112 points to close at over one-week low of 27,531.41 due to continued selling in heavyweights such as ITC, Tata Motors and Vedanta on muted earnings amid weakening rupee.

A cautious stance adopted by participants, who trimmed positions ahead of May derivatives expiry on Thursday, and absence of any positive trigger also dampened trading sentiments, brokers said.

At the forex market, the rupee was trading 42 paise down at Rs 63.99 against the American currency (intra-day).

Falling for the second day in a row, the 30-share Sensex closed down 112.47 points, or 0.41 per cent, at 27,531.41 -- the lowest closing level since May 15. It touched a high of 27,675.94 and a low of 27,473.54 in day trade.

The 50-issue Nifty of NSE fell by 30.90 points, or 0.37 per cent, to 8,339.35 after hovering between 8,320.05 and 8,378.90 intra-day.

Vedanta Ltd plunged 2.33 per cent and was the biggest loser among Sensex scrips. ONGC fell sharply by 2.05 per cent.

Tata Motors fell by 1.60 per cent ahead of its January- March quarter earnings due later in the day.

ITC was down 1.05 per cent, sliding for the second session after disappointing earnings on Friday. Sun Pharma, NTPC, Reliance, ICICI Bank, HDFC and Dr Reddy's recorded losses up to 1.34 per cent.

FMCG major Nestle shares closed down 2.10 per cent after cracking over 6 per cent intra-day following reports that UP Food Safety and Drug Administration may file case against the company due to higher than permitted levels of lead and a food additive in Maggi noodles.

However, state-run BHEL emerged as top gainer among Sensex stocks by soaring 2.88 per cent even as it posted 52 per cent fall in net profit at Rs 888.35 crore for the quarter ended March 31, 2015.

 

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