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Late selling in the market drags Nifty below 11,150 level and Sensex by 372 points in today's trading session.
The Sensex was down 372.17 points at 37090.82, while Nifty was down 130.70 points at 11148.20. About 639 shares have advanced, 1826 shares declined, and 157 shares are unchanged.
Eicher Motors, Zee Entertainment, Sun Pharma, Indiabulls Housing and Yes Bank were among major losers on the Nifty, while gainers were Titan Company, Bharti Infratel, Tech Mahindra, HDFC and HUL.
On the sectoral front, major selling was seen in the PSU Bank and Pharma as both the indices closed with 4 percent cut, followed by metal, auto, energy and infra.
HEADLINES OF THE DAY
ITC Q4 results: FMCG major ITC has reported 18.7 percent jump in its Q4FY19 net profit to Rs 3,482 crore on the back of strong sales from the FMCG and cigarette units.
OBC Q4 results: Net profit at Rs 201.5 crore versus Rs loss of Rs 1,650.2 crore, YoY. Gross NPA at 12.66%, while net NPA at 5.93%, QoQ.
Inox Leisure Q4: Consolidate net profit down 16.7% at Rs 48 crore against Rs 57.7 crore, revenue up 48% at Rs 479 crore versus Rs 323.6 crore, YoY.
Automotive Axles Q4: Net profit up 5.9% at Rs 30 crore against Rs 28.3 crore, revenue up 2.6% at Rs 481 crore versus Rs 469 crore, YoY.
India VIX, the measure of volatility, is up about 3 percent to 26.33.
The Tata Motors Group global wholesales in April 2019, including Jaguar Land Rover, were at 79,923 nos., lower by 22%, over April2018.
HDFC Q4: Net profit at Rs 2,861.6 crore. HDFC has informed the Exchange that Board of Directors at its meeting held on May 13, 2019, recommended Final Dividend of Rs 17.50 per equity share.
RESULTS TO BE ANNOUNCED TOMORROW :- EDELWEISS , NESTLE , PIDILITIND , POLYCAB , SIEMENS.
The crucial resistance for Nifty spot is now seen at 11300 and above this 11480 Support for the immediate term is now placed at 11000 next support will be 10820.
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