Indian indices ended in the red for the second consecutive day with L&T and Titan as top index losers.
Nifty went down by 0.50%, or 58.80 points, and closed below 11,700 at 11,670.80. S&P BSE Sensex on the other hand, tripped down by 0.43%, or 172.61 points, and closed at 39,749.85. Around 1542 shares declined, 1019 shares advanced, while 170 shares remained unchanged.
Asian Paints (2.89%), UltraTech Cement (1.64%), Shree Cement (1.12%), HCL Tech (0.82%), and Kotak Mahindra Bank (1.14%) were among top Nifty gainers, whereas, L&T (4.97%), Titan Company (3.34%), ONGC (2.79%), Adani Ports (3.15%), and Tata Motors (2.08%) were among the top Nifty losers.
All sectoral indices except the IT index ended in the red. BSE Midcap went down marginally by 0.01% and BSE Smallcap declined by 0.55%.
Maruti Suzuki India Ltd.
Maruti Suzuki reported a rise of 2% in its consolidated net profit for the second quarter of FY21, while the company’s revenue from operations surged by 10.34%. The EBITDA surged by 20%. Despite the profits, the stocks of the company declined by 1.42% and traded at Rs.7, 084.00.
Larsen & Toubro Limited
Stocks of L&T declined by 4.97% and traded at Rs.934.00 despite recording a consolidated profit of Rs.5520.3 crore in Q1FY21, which was 118% higher as compared to this period a year ago. However, the consolidated gross revenue declined by 12% year-on-year.
Ajanta Pharma Ltd.
Stocks of Ajanta Pharma surged 3.04% and traded at Rs.1, 640.00 after the company said that it will decide on the buyback proposal in November’20.
Cadila Healthcare Ltd.
Zydus Cadila received tentative approval from the USFDA for marketing Linagliptin Tablets 5mg. Despite the approval, the stocks of the company went down by 1.36% and traded at Rs.412.80.
Strides Pharma Science Ltd.
The company reported a growth of 10.5% in its net profit for the second quarter of FY21, which stood at Rs.79.2 crore, while the revenue of the company was up by 11%, and stood at Rs.797.1 crore. The stocks of the company, however, declined by 8.50% and traded at Rs. 685.35.
Interglobe Aviation Ltd.
The company reported that its losses widened to Rs.1194.8 crore in the second quarter of the FY21, however, the numbers were better than expected. The stocks of the company went up 2.30% and traded at Rs.1, 323.45.
Indian Rupee
The Indian rupee ended lower for the second consecutive day and ended at Rs.74.11 against the U.S. Dollar amid volatile equity markets.
Weaker Global Market Cues
Major global market indices except the European indices ended in the red as the coronavirus cases soared globally, leaving investors worried about their investments. NASDAQ went down by 3.73%, Nikkei 225 went down by 0.37%, and Hang Seng declined by 0.49%, while FTSE MIB and FTSE 100 rose by 0.15% and 0.04% respectively.