Sensex Ends 500 Points Lower; Hindustan Unilever, NTPC, L&T Top Losers

The benchmark BSE Sensex oscillated in a range of around 770 points between an intra-day high of 61,880 and a low of 61,109 before ending the day lower by 456 points or 0.74 per cent

Sensex Ends 500 Points Lower; Hindustan Unilever, NTPC, L&T Top Losers

The domestic stock markets tumbled nearly one per cent to end lower for the second consecutive session amid heightened volatility, due to profit-booking at higher levels. The benchmark BSE Sensex oscillated in a range of around 770 points between an intra-day high of 61,880 and a low of 61,109 before ending the day at 61,259, lower by 456 points or 0.74 per cent and the NSE Nifty swung between an intra-day high of 18,458 and a low of 18,209 before ending at 18,267, down 152 points or 0.83 per cent. All the BSE sectoral indices ended in the red, with the information technology shares hammered to the extent of 2 per cent.

The broader markets also succumbed to selling pressure, with the BSE Midcap index and BSE Smallcap index shedding around 2 per cent each.

According to market experts, investors are booking profits at every peak, adding volatility to the market. Analysts also said that investors were awaiting corporate views during September-quarter earnings as higher commodity costs and raw material expenses are expected to hurt margins for companies even as they post profit increases.

On the stock-specific front, Titan, Hindustan Unilever, NTPC and L&T shed around 2 per cent each on the BSE. On Tuesday evening, Hindustan Unilever had reported a net profit of Rs 2,187 in the July-September quarter, registering a growth of 8.86 per cent from Rs 2,009 crore during the same quarter last year. Hindustan Unilever has warned that margins could remain under pressure in the near term due to elevated commodity prices. 

IRCTC plunged 17 per cent on Wednesday, following an 8 per cent decline in the previous session. The stock has lost around 30 per cent in a span of 2 days after having hit a 52-week high of Rs 6,393 on Tuesday morning. 

On the other hand, Bharti Airtel, SBI, Axis Bank, Bajaj Finance and ICICI Bank bucked the weak trend to register gains of 1-4 per cent each on the BSE.

The NSE market breadth was weak. About 877 shares advanced, 2,351 shares declined and 115 shares are unchanged.

.