Sensex falls 180 pts; Amber Enterprises debuts with 37% premium
Benchmark indices reversed some previous day's gains on Tuesday, driven by profit booking in technology, select private banks and index heavyweights ITC & Reliance Industries.
The 30-share BSE Sensex was down 82.24 points at 36,201.01 and the 50-share NSE Nifty fell 40.20 points to 11,090.20.
TCS, ICICI Bank, ITC, Reliance Industries, HDFC Bank, Infosys, L&T and Vedanta were early losers whereas Bajaj Auto, Hero Motocorp, Indiabulls Housing, GAIL, BPCL, NTPC and HPCL were gainers.
Ahead of earnings later today, TVS Motor Company and IOC gained half a percent while Godrej Consumer Products lost 0.6 percent.
Nifty Midcap lost another half a percent, in addition to 0.85 percent loss in previous session.
The rupee weakened by 7 paise to trade at 63.66 against the US dollar in morning at the interbank foreign exchange today amid the dollar's gains in global markets.
Forex dealers said increased month-end demand from banks and importers and a weak opening in the domestic equity markets weighed on the domestic unit.
Yesterday, the rupee had ended lower by 3 paise at 63.58, halting its three-day rally even as the Economic Survey printed a rosy picture of India's macroeconomic outlook.
Indian Oil Corporation (IOC) will announce its December quarter earnings later today. Analysts expect refining business to be offset by poor marketing performance and GST to continue to weigh on downstream companies.
IOC is likely to report better results than other oil marketing companies on the back of higher refining profits.
The stock gained around Rs 316 in the opening tick, making it a gain of 36.79 percent.
The appliance maker had a very successful initial public offering (IPO), registering a subscription of 165 times. It had sought to raise Rs 600 crore through the issue, which opened on January 17 with a price band of Rs 855-859 apiece.
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