Post Session: Market ends lower as Infy cuts forecast; IT, Teck stocks drag Analysis for Oct 12, 2015

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The Indian equities ended in the negative terrain on Monday as investors partially booked profit after IT bellwether Infosys announced its third quarter earnings and also lowered its dollar revenue guidance for 2015-16. IT and Teck space saw hefty selling with index heavy weight Infosys falling nearly 4 per cent on revenue growth concerns.

The 30-share BSE SENSEX closed at 27079.51, up by 233.7 points or by 0.87 per cent and the NSE Nifty ended 60.35 points higher at t 8189.70.

In the bullish trade, the BSE Sensex touched intraday high of 27305.04 and intraday low of 26855.75, while the NSE Nifty touched high and low of 8244.5 and 8128.2, respectively.

IT bellwether Infosys cut its FY 16 dollar revenue guidance to 6.4-8.4 per cent from 7.2-9.2 per cent. Meanwhile, investors keenly eyed key macroeconomic data i.e. IIP and inflation numbers, to be released later in the day.

Outperforming the benchmark indices, the broader market ended in positive terrain, with the BSE MIDCAP settling at 10956.94, up by 19.18 points or by 0.18 per cent, while the BSE SMLCAP closed at 11354.24, up by 5.66 points or by 0.05 per cent.

On the sectoral front, IT and Teck indices emerged as top losers, falling 2.02 per cent and 1.83 per cent, respectively.

Leading the decline on BSE Sensex pack were Infosys Ltd. (Rs. 1122.00,-3.93%), Lupin Ltd. (Rs. 2016.00,-1.95%), Cipla Ltd. (Rs. 675.60,-1.82%), Sun Pharmaceutical Industries Ltd. (Rs. 890.05,-1.80%), Housing Development Finance Corporation Ltd. (Rs. 1274.10,-1.29%), among others.

Meanwhile, Vedanta Ltd. (Rs. 110.50,+6.66%), Hindalco Industries Ltd. (Rs. 87.75,+4.90%), GAIL (India) Ltd. (Rs. 319.75,+2.73%), Tata Motors Ltd. (Rs. 364.10,+2.30%), Bharat Heavy Electricals Ltd. (Rs. 205.40,+1.66%), were among top gainers on BSE.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 3015, shares advanced were 1373 while 1510 shares declined and 132 were unchanged.

On the global front, the Asian equities ended higher, with markets in mainland China extended rally for the third day of trade as bets of a pushback of US monetary tightening timetable buoyed sentiment. Shanghai Composite surged by over 3.3 per cent after policymakers vowed to increase fiscal support for shantytown redevelopment to help bolster growth in the world"s second biggest economy. Hang Seng ended up 1.2 per cent while markets in Tokyo were closed for a holiday.

Story first published: Monday, October 12, 2015, 16:36 [IST]
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