Sensex sheds 306 pts, Nifty ends below 10,500 on weaker rupee
Benchmark indices after yesterday's breather resumed selling pressure again, with the Sensex losing more than 300 points on weaker rupee and global weakness.
The 30-share BSE Sensex was down 306.33 points or 0.88 percent at 34,344.91 and the 50-share NSE Nifty fell 106.30 points or 1.01 percent to 10,430.40.
About three shares declined for every two shares rising on the BSE.
Nifty Midcap index fell over 100 points.
Ceat, PFC, MRPL, REC, Balrampur Chini Mills, SAIL, Motherson Sumi, JSPL, GMR Infrastructure and Union Bank declined up to 7 percent.
PSU Bank is the biggest gainer among sectoral indices, rising 4 percent on the back of support from SBI, Andhra Bank, Bank of Baroda and IDBI Bank that gained 4-7 percent.
HEADLINES OF THE DAY
Reliance Communications shot up more than 60 percent.
Kolte-Patil Developers gained 2.5 percent despite 6.2 percent fall in its Q4FY18 net profit at Rs 31.8 crore, while revenue was up 5 percent at Rs 222.5 crore.
Finolex Industries has registered 2 percent fall in its fourth quarter (Jan-March) net profit at Rs 120.9 crore against Rs 123.4 crore in same period last year.
Shares of Dhanlaxmi Bank advanced 14 percent as company cut its losses in the quarter ended March 2018.
Archies has reported net profit of Rs 30.6 crore in the Q4FY18 against loss of Rs 1.6 crore in the same quarter last fiscal.
Grasim Industries has reported 18.3 percent jump in its Q4FY18 net profit at Rs 373.12 crore.
Ramco Cements' March quarter net profit declined 19.2 percent to Rs 108.6 crore on weak operating margin.
Bajaj Electricals share price rallied 3 percent after the company reported profit at Rs 7.3 crore for March quarter.
UPCOMING RESULTS: - PIDILITE, CUMMINS, REPCO INDIA, GUJ ALKALI, COCHIN SHIPYARD, GAIL, MAHA SEAMLESS, KAVERI SEED, SUDARSHAN CHEM, CITY UNION BANK