Sensex trades on cautious note, Tata Motors, Yes Bank slide

Indian stock markets traded on a cautious note today, tracking mixed Asian markets. The Sensex was up 75 points while Nifty traded above 10,600. Among the Sensex stocks, Tata Motors was the biggest loser, down 2.2%. Yes Bank, PowerGrid, Here MotoCorp, SBI and IndusInd Bank were among the other top losers. Infosys, TCS, ONGC and Kotak Mahindra Bank were among the top gainers, up around 1%.

Sensex trades on cautious note, Tata Motors, Yes Bank slide

In broader markets, Avanti Feeds Ltd dropped 13.2% to Rs 366.70 after the company reported 57% declined in its net profit in September quarter to Rs 55.10 crore against Rs 126.57 crore a year ago.

Wockhardt Ltd rose 4.3% to Rs 543.45 after the company said its board approved raising up to Rs 1,800 crore via bonds.

Jet Airways India Ltd fell 2% to Rs 250 ahead of its September quarter earnings due later today. According to four Bloomberg analyst estimates, the company may post a loss of Rs 1141.80 crore.

The breadth of the market was in favour of gainers, with 1,008 stock rising on the BSE while 930 declining.

The rupee today weakened by 26 paise to 72.76 against the US dollar Monday, owing to increased demand for the American currency from importers amid increasing global crude oil prices. Brent crude breached the $71 a barrel mark by rising 1.21%.

Taking some pressure off a sharp drop in oil prices last week, Saudi Arabia’s energy minister said on Sunday that Riyadh plans to reduce its oil supply to world markets by 500,000 barrels per day in December, a global reduction of about 0.5%.

Meanwhile, on net basis, foreign funds bought shares worth Rs 614.14 crore, while DIIs sold share to the tune of Rs 337.28 crore Friday, provisional data showed.source: livemint


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