Sensex ends 134 points lower, Nifty below 10,950; Sun Pharma, Wipro major gainers.

capitalstars financial research pvt. ltd.

It's a negative end for the market, but off the low points as bulls put up a strong fight in the last hour. Shares broke their five-day gaining streak as the Nifty finished below 10,950, while Sensex ended 134 points lower.

The Sensex was down 134.32 points at 36444.64, while Nifty was down 39.10 points at 10922.80. About 941 shares have advanced, 1584 shares declined, and 170 shares are unchanged.

Sun Pharma, Kotak Mahindra Bank, Hero Motocorp, Bajaj Finance and Yes Bank are among major gainers on the Sensex, while top losers are Vedanta, Tata Steel, M&M, Maruti Suzuki and Bharti Airtel.

Among the sector, metal stocks remained under pressure as they ended 2 percent lower, while some buying was witnessed in pharma index led by Sun Pharma, Piramal Enterprises and Aurobindo Pharma.

HEADLINES OF THE DAY

Rane Madras Q3 result: The company posted net loss at Rs 0.7 crore against profit of Rs 7.5 crore. Revenue was up 6.4 percent at RS 387.2 crore versus Rs 364 crore, YoY.

Reliance Nippon Life declares dividend: The board has also declared an interim dividend of Rs 3 per equity share and has fixed the record date as February 01, 2019.

Asian Paints Q3 result: The company has reported a good growth in consolidated earnings for the quarter ended December 2018 with robust revenue and operational income, but margin performance was subdued due to higher raw material cost.

Result reaction: Shares of Alembic Pharmaceuticals added 3.5 percent after company posted robust numbers for the quarter ended December 2018.

Shree Cements net profit for December quarter fell 10 percent to Rs 301.3 crore from Rs 333 crore that the company posted during the same quarter of last year. 

Havells India reported a net profit of Rs 195.7 crore for December quarter. This implies a jump of 10 percent year on year from Rs 178.62 crore posted last year

TVS MOTOR RESULTS TVS Motor reported a rise of 15 percent (year-on-year) in its net profit for December quarter at Rs 178.4 crore. The company had reported a profit of Rs 154.4 crore during the corresponding quarter of last year.

The crucial resistance for Nifty spot is now seen at 11020 and above this 11180 Support for the immediate term is now placed at 10860 next support will be 10730.

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