Selling pressure is back on the market, with the Sensex falling over 100 points, while the Nifty is testing 11,000.
The Sensex is down 122.48 points or 0.34% at 35911.25, and the Nifty down 31.00 points or 0.28% at 11018.70. The market breadth is negative as 1176 shares have advanced, 1183 shares declined, while 219 shares are unchanged.
Kotak Mahindra Bank, BHEL, and Hindalco have gained the most on both indices, while Dr Reddy’s Labs, Coal India, and Lupin are the top losers.
However, the market breadth favours the advances. Among sectoral indices, pharmaceutical index is trading lower, along with IT and FMCG. Midcaps, too, are trading lower.
Oil marketing company Indian Oil Corporation’s third quarter earnings beat analyst expectations on Monday as standalone profit during the quarter more than doubled to Rs 7,883 crore, from Rs 3,696.3 crore in previous quarter.
The bottomline was far ahead of CNBC-TV18 poll of Rs 5,222 crore for the quarter.
Revenue from operations grew by 22.2 percent to Rs 1.1 lakh crore in Q3, compared to Rs 90,567 crore in September quarter, the company said in its filing.
Asian indexes traded lower, tracking declines seen on Wall Street in the previous session.
Tokyo’s benchmark Nikkei 225 index fell 1.33 percent while China’s Shanghai Composite was down 0.7 percent.