1. Sensex slips nearly 100 points as investors turn cautious ahead of Q2 earnings

Sensex slips nearly 100 points as investors turn cautious ahead of Q2 earnings

Indian stock markets traded lower in the morning session on Monday after opening flat as caution among market participants seemed to have increased ahead of some major corporate earnings this week and GST Council Meeting on 10 November.

By: | Published: November 6, 2017 9:49 AM
The benchmark Sensex dropped 97.19 points to hit the day’s low of 33,588.37 points today. (Image: Reuters)

Indian stock markets traded lower in the morning session on Monday after opening flat as caution among market participants seemed to have increased ahead of some major corporate earnings this week and GST Council Meeting on 10 November. BSE Sensex gained 24.59 points to open at 33,710.15 points while NSE Nifty lost 20.75 points to begin at 10,431.75 points. Domestic markets are lined up with some major second-quarter earnings including blue-chips such as SBI, Tata Motors, BHEL, Cipla, CIL and NHPC. The benchmark Sensex dropped 97.19 points to hit the day’s low of 33,588.37 points whereas the broader Nifty edged down 31.1 points to mark the day’s low of 10,421.4 points.

Shares of M&M, Adani Ports, ITC, Cipla, Power Grid were the major gainers on Sensex, advanced up to 1.72% while Kotak Mahindra Bank, Asian Paints, RIL, Tata Steel, and Bharti Airtel lost up to 2%. The stock of heavyweights companies such as RIL, ICICI Bank, Kotak Mahindra Bank and Bharti Airtel contributed the most in the Sensex decline. Collectively these four stocks alone washed off about 77 points from the index while HDFC Bank, ITC and M&M helped to trim the losses.

Shares of Century Textiles & Industries, Fortis Malar Hospitals, GTPL Hathway, Gujarat Gas, Gulf Oil Lubricants India, Housing & Urban Development Corporation, Indian Bank, Jaiprakash Power Ventures, Just Dial, KEC International, Larsen & Toubro Infotech, NRB Bearing, Piramal Enterprises, Rural Electrification Corporation, Thomas Cook, Torrent Power, TRF, Triveni Turbine, Welspun Corp will be in watch ahead of Q2 earnings.

A surge in shares of heavyweight Apple helped push up major Wall Street indexes on Friday, as investors also assessed a mixed US labor market report, Reuters reported. The Dow Jones Industrial Average rose 22.93 points or 0.1% to 23,539.19, the S&P 500 gained 7.99 points or 0.31% to 2,587.84 and the Nasdaq Composite added 49.49 points or 0.74% to 6,764.44. Shares of Apple, the world’s most valuable publicly traded company, rose 2.6% as shoppers streamed into the company’s stores to buy its latest iPhone. Apple also gave a better-than-expected sales forecast for the holiday shopping season.

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