The BSE benchmark Sensex nosedived almost 190 points in late morning deals following losses in auto, healthcare, realty, power and consumer durables stocks.
The BSE benchmark Sensex nosedived almost 190 points in late morning deals following losses in auto, healthcare, realty, power and consumer durables stocks. Disappointing third quarter earnings posted by Tata Motors and Sun Pharma yesterday mainly dampened trading sentiment. The 30-share index was quoting 189.56 points, or 0.67 per cent lower at 28,149.75 at 1145 hrs. Similarly, the NSE 50-share Nifty was down by 58.80 points, or 0.67 per cent, at 8,733.50.
Among laggards that dragged down the key indices were Tata Motors 8.41 per cent, Sun Pharma 2.86 per cent, HeroMoto 1.07 per cent and Dr Reddy’s 0.83 per cent. Meanwhile, Foreign portfolio investors (FPIs) sold shares worth a net Rs 6.45 crore yesterday, as per provisional data released by the stock exchanges.
Globally, other Asian markets were trading in green, tracking another record closing at the US markets after Federal Reserve chief Janet Yellen spoke in support of an interest rate hike next month. Yellen said yesterday that the Fed will probably need to raise interest rates at an upcoming meeting in March, and that delaying rate increases could leave the Fed’s policy-making committee behind the curve.