Despite positive cues from Asian and European markets, Indian stocks trade lower today, with investors continuing to press sales, amid concerns about near term economic outlook and on some disappointing quarterly results.
With some of their key constituents decling sharply on selling pressure, the Sensex and the Nifty50 look set to end notably lower.
At 28,175.05, the Sensex is down 163.98 or 0.58% at present. The Nifty50 is down 59.40 points or 0.7% at 8732.90.
Tata Motors is down nearly 9% following the company reporting a sharp 96% decline in net profit in the third quarter. Tata Motors DVR is trading more than 9% down.
Sun Pharmaceutical Industries is down nearly 4%. Tata Steel is declining 2.4%, Hero Motocorp is down 2% and Adani Ports is lower by 1.6%. ICICI Bank, Maruti Suzuki, NTPC, Larsen & Toubro, Dr Reddy's Laboratories and Bharti Airtel are also notably lower.
BHEL, Bank of Baroda, Aurobindo Pharma, BPCL, Eicher Motors, Idea Cellular, Yes Bank, Tech Mahindra, Tata Power, Hindalco, ACC and Ambuja Cements are down 1% - 3.2%.
Bharti Infratel is gaining nearly 2%. ITC, HDFC Bank, Zee Entertainment Enterprises, Axis Bank, Power Grid Corporation, Bajaj Auto and Asian Paints are up 0.3% - 1.2%.