For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Sensex Drops On Poor Q2 Results, Manufacturing Data

|

Benchmark indices ended the day lower for the sixth straight day as corporate results and poor manufacturing data from India and China continued to worry the markets.

The Sensex ended the day lower by 97 points at 26,559, while the Nifty fell 15 points in trade at 8050 points. Asian markets dropped lower in trade after China's official purchasing managers' index (PMI) came in at 49.8 for October, which means data showed contraction for the third straight month.

Sensex Drops On Poor Q2 Results, Manufacturing Data
Indices
This was not seen well by the Asian markets, which dropped in trade. India's own manufacturing data contracted to a 22-month low, impacting benchmark indices. Worries over the outcome of the Bihar elections, which are crucial for the reform process, also left investors worried.
 

Top Nifty gainers in trade were the auto stocks with Mahindra and Mahindra, Tata Motors and Maruti Suzuki leading the pack.

ITC, which had fallen 4 per cent on Friday, following a poor set of results managed to end the day with gains. L&T, however, continued to fall and plunged to a fresh 52-week low following disappointing results. Metal stocks were hammered on weak Chinese data with Vedanta, Tata Steel, Jindal Steel and NMDC among the biggest losers.

Indian Overseas Bank fell as much as 11 per cent after losses mounted and non performing assets at the bank increased.

Oriental Bank, however, surged after the bank reported a good set of quarterly numbers. Coffee Day Enterprises, which runs the popular Cafe Coffee Day chain got listed on the bourses. The stock ended the day a huge 16 per cent lower as compared to its offer price of Rs 328.

Meanwhile, markets across Europe were trading mixed with the German DAX higher in trade, while the UK's FTSE and the French CAC were trading lower.

GoodReturns.in

Read more about: sensex nifty
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more