SENSEX tanks 700 pts as weak Q2 results, FII outflows unnerve Street; NIFTY 50 slips below 24,200

At 1:05 pm, the S&P BSE SENSEX was trading at 79,313.33, down 751.83 points, or 0.94% while the NSE NIFTY50 index was trading 277.50 points or 1.14% lower at 24,121.90.  

Foreign investors (FIIs and FPIs) on Thursday net sold equities worth ₹5,062.45 crore while DIIs net bought shares worth ₹3,620.47 crore. So far in October, FIIs have sold Indian shares worth ₹97,205.42 crore. 

Buzzing Stocks

The bank's provisions and contingencies ballooned 87% on a year-on-year (YoY) basis to ₹1,820 crore from ₹974 logged in the corresponding quarter of the previous fiscal. 

ITC, on the other hand, jumped 4% to ₹490.30 apiece on the BSE after the company reported a decent set of numbers for the September quarter.

NTPC shares fell nearly 4% to ₹396 apiece on the BSE after the state-owned power giant on Thursday posted about a 14% rise in consolidated net profit to Rs 5,380.25 crore for the September quarter.

The total income; however, fell to ₹45,197.77 crore in the quarter from ₹45,384.64 crore a year ago.

Broader Market

The BSE MidCap index was trading 1.55% lower at 45,419.81 levels while the BSE SmallCap index was trading at 52,463.13, down 2.20%. 

Sector Watch

Most sectoral indices were trading in the red with metal and consumer durable stocks taking the biggest knock. 

The BSE Metal index was trading 1.92% lower at 30,942.88 while the BSE Consumer Durables index was trading at 61,684.84, down 1.94%.

Global Markets

The dollar was on the defensive on Friday following its biggest drop in a month against major peers, as it tracked a retreat in US yields from nearly three-month highs after depressed Treasury prices drew buyers.

Asian stocks were mixed, with some markets tracking Wall Street gains from overnight, while Japan's Nikkei struggled after the yen rebounded strongly from a three-week trough to the dollar.

Hong Kong's Hang Seng rose while mainland blue chips were flat.