NIFTY 50 tests 25,000, SENSEX falls 150 pts; Rallis India zooms 12% post Q2 result

At 9:20 AM, the S&P BSE SENSEX was trading at 81,684.44 levels, down 135.68 points, or 0.17%, while the NSE NIFTY 50 index was quoting 31.90 points, or 0.13%, lower at 25,025.45 points.

Buzzing stocks

Rallis India shares surged 12% to ₹360.30 apiece on the BSE in the early trade after the company on Tuesday reported a 19.51% year-on-year (YoY) growth in net profit for the quarter ending September 30, to Rs 98 crore.

Revenue from operations witnessed 11.53% growth at ₹928 crore compared to ₹832 crore a year ago.

Bajaj Auto shares were trading 0.41% lower at ₹11,471.50 apiece on the BSE ahead of the company's Q2 result announcement. 

Foreign investors (FIIs/FPIs) on Tuesday net sold equities worth ₹1,748.71 crore while domestic institutional investors (DIIs) net bought shares worth ₹1,654.96 crore. 

Broader Market

The BSE MidCap index was trading at 48,762.17 levels, up 68.29 points, or 0.14%. The BSE SmallCap index was ruling at 57,362.10, up 137.24 points, or 0.24%. 

Sector Watch

Oil & Gas and telecom stocks were the top gainers in the early trade. The BSE OIL & GAS index was trading 0.95% higher. 

On the other hand, realty and IT packs were the notable losers. 

Global Market

Asian equities fell on Wednesday after disappointing earnings from Europe's biggest tech firm, ASML, dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.

Tech-heavy South Korean stocks fell 0.6%, while chip stocks led Japan's Nikkei 1.8% lower. Taiwan stocks slipped 1.2%. That left MSCI's broadest index of Asia-Pacific shares outside Japan down 0.32%.

On Wall Street, US stocks closed down on Tuesday. The three major US indexes ended the session in negative territory, with the S&P 500 and the Dow easing back from Monday's record closing highs.