Sensex falls over 200 points, Nifty below 10,300; midcaps crack
Equity benchmarks started off last day of the month on a negative note ahead of expiry of November derivative contracts. Investors also await second quarter GDP data and OPEC decision later today.
The 30-share BSE Sensex fell 154.03 points to 33,448.73 and the 50-share NSE Nifty declined 49 points to 10,312.30, tracking weakness in Asian stocks.
Vedanta, Tech Mahindra, Axis Bank, UltraTech Cement, SBI, Kotak Mahindra Bank, Adani Ports, Tata Motors and Reliance Industries were early losers.
Sun Pharma, Indiabulls Housing Finance, Bosch, IndusInd Bank, Wipro and Aurobindo Pharma were early gainers.
Nifty Midcap was down 0.4 percent. Future Retail, McLeod Russel, Balaji Telefilms, GNA Axles, Indiabulls Real, Puravankara, Delta Corp and Gati were down 1-4 percent.
The rupee dropped sharply by 19 paise to 64.50 against the American currency in early trade today ahead of the September quarter GDP data.
Currency dealers said apart from increased month-end demand for the US currency from importers and a lower opening of the domestic equity markets, dollar's gains against other currencies overseas on upbeat US economic growth data weighed on the rupee.
Yesterday, the rupee had maintained its upbeat trend for the third straight session and firmed up by another 10 paise to end at a fresh two-month high of 64.31 against the US dollar ahead of the GDP data.
The Unique Identification Authority of India (UIDAI) has ordered a probe against Bharti Airtel for alleged violation of the Aadhaar Act, following the government's direction to link Aadhaar to mobile numbers, Times of India reported.
Shares of Tribhovandas Bhimji Zaveri tumbled 15.5 percent in morning on the back of weak Q2 (August-September) numbers.
The company has registered 90 percent decline in its Q2 net profit at Rs 80 lakh against Rs 7.89 crore in the same quarter last fiscal.
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