Tuesday, 25 October 2016

Nifty breaks 8700, Sensex falls over 100 pts; HDFC twins drag

Equity benchmarks extended losses in morning trade with the Nifty falling below the 8700 level due to profit booking. 

10:20 am Poll: Bharti Airtel, the country's largest telecom operator in terms of subscribers, is expected to report a 28 percent degrowth in July-September quarter profit at Rs 1,050 crore QoQ on forex loss due to Naira devaluation & interest expenses.

Revenue is seen falling 0.2 percent quarter-on-quarter to Rs 25,495 crore in Q2.

It is traditionally a weak quarter for telecom companies. Hence, analysts say India Volumes may decline due to seasonality, though some pricing pressure may offset the volume decline.

Lower voice volume & voice revenue per minute may impact wireless EBITDA margin.

Also read - Earnings growth to be in mid-teens: Birla Sun Life AMC 

10:00 am Market Check 

Equity benchmarks extended losses in morning trade with the Nifty falling below the 8700 level due to profit booking.

The 30-share BSE Sensex was down 127.57 points at 28051.51 and the 50-share NSE Nifty fell 34.65 points to 8674.30. The broader markets too remained under pressure on weak breadth. About 1169 shares declined against 862 advancing shares on the BSE.

HDFC, HDFC Bank, HUL, Bharti Airtel, NTPC and GAIL were down more than 1 percent whereas ICICI Bank, Axis Bank, Sun Pharma and Maruti were gainers in morning.

Tata Group stocks remained under pressure after Tata Sons sacked Cyrus Mistry as chairman on Monday. Tata Steel, TCS and Tata Motors were down 1-2 percent.

Sanjay Mookim of Bank of America Merrill Lynch says change of leadership at the Tata Group was unexpected. He feels increased uncertainty at the top could affect stock prices of listed companies in the near term.
www.Bigprofitbuzz.com


3 comments:

Geet Khare said...

The SGX Nifty Index Futures for October delivery were trading at 8,728, up by 6 points or 0.07 per cent at 10:28 AM Singapore time, signaling that the Sensex may open with slim gains today.capitalstars

Ripples Advisory Private Limited said...

HNI FUTURE CALL: BUY SAIL FUTURE ABOVE 51.20 TG 51.40 51.90 SL 50.70 BELOW Best stock advisory company in indore

Geet Khare said...

Gold December contract has added 0.3 percent at $ 1,276 an ounce.capitalstars