Indian stock markets ended slightly lower on Tuesday following the cautious mood of investors over the ongoing earnings season. BSE Sensex closed down 91.69 points or 0.28% at 32,941.87 while NSE Nifty shed 38.35 points or 0.38% to settle at 10,186.6 points. A slump in the blue-chip stocks such as HDFC Bank, L&T, TCS and ITC led the key indices into red. During the day, the benchmark Sensex shuttled between 33,126.55-32,907.11 points while the broader Nifty made a low of 10,175.55 points.
Shares of Hero MotoCorp, Axis Bank, Bajaj Auto, M&M, RIL gained up to 1.96% while L&T, Power Grid, Asian Paints, TCS, ONGC, Sun Pharma lost up to 2.46%. The stock of Eicher Motors slumped 1.57% to end at Rs 30,083.2 on BSE even after Royal Enfield maker reported a 25% rise in July-September net profit to Rs 518 crore.
Shares of Tata Global Beverages jumped 5.16% to end at Rs 246.65 after the company reported a rise of 11% in the net profit for the June-September quarter to Rs 154 crore as compared to the corresponding quarter of the previous year. The stock of Ipca Laboratories rose 5% to Rs 571.15 before settling down 1.48% at Rs 535.9 on BSE after the drug maker reported a 75.55% jump in net profit to Rs 96.47 crore for the September quarter this year.
The Wholesale Inflation for October has surged to 3.59% to a six-month high, driven by faster rises in prices of food and fuel products, after registering a fall in the previous month, government data showed on Tuesday. The Wholesale Inflation in September fell to 2.4% from 3.24% in August. India’s annual wholesale price inflation last month increased to 3.59% from a year earlier from a provisional 2.6% in September. Foreign portfolio investors (FPIs) sold shares worth a net Rs 233.58 crore yesterday, as per provisional data. Domestic institutional investors (DIIs) also sold shares worth a net Rs 268.77 crore.