Market Live: D-Street extends losses on weak rupee, Sensex down over 200 points; Nifty breaks 11,500
Tepid global market movements along with a weakness in the Indian currency are likely to have weighed on the market.
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Market Update: A sharp selloff in the Indian rupee has dragged equity benchmarks on this Monday morning. The Sensex is down over 200 points, while the Nifty is testing 11,500-mark as well. The Indian currency has seen a steep fall of 59 paise to 72.34 per US dollar. Apart from that, weakness in automobiles, banks, and energy names are weighing on indices.
Midcaps, too, are trading in the red, down 0.25 percent on the Nifty Midcap index. Shares of Axis Bank jumped 5 percent after a successor to Shikha Sharma was announced, while Tata Motors fell 2 percent after its total JLR sales took a hit.
At 10:00 hrs IST, the Sensex is down 235.99 points or 0.61% at 38153.83, while the Nifty is down 77.20 points or 0.67% at 11511.90. The market breadth is narrow as 949 shares advanced, against a decline of 915 shares, while 97 shares were unchanged.
Tata Motors falls 2%: Shares of Tata Motors fell 2 percent on Monday morning as investors reacted to a fall in its Jaguar Land Rover (JLR) sales for August.
The stock touched an intraday high of Rs 276.30 and an intraday low of Rs 272.00.
JLR reported a fall of 4.9 percent (year-on-year) in its August sales at 36,629 units. The company’s retail sales were up 7.7 percent at 11,802 units on a YoY basis.
Retail sales were up in the UK (64.9%), overseas markets (20.2%) and North America (2.5%), with Europe slightly below last year (3.1%), waiting for last WLTP certifications.
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At 10:00 hrs IST, the Sensex is down 235.99 points or 0.61% at 38153.83, while the Nifty is down 77.20 points or 0.67% at 11511.90. The market breadth is narrow as 949 shares advanced, against a decline of 915 shares, while 97 shares were unchanged.
Tata Motors falls 2%: Shares of Tata Motors fell 2 percent on Monday morning as investors reacted to a fall in its Jaguar Land Rover (JLR) sales for August.
The stock touched an intraday high of Rs 276.30 and an intraday low of Rs 272.00.
JLR reported a fall of 4.9 percent (year-on-year) in its August sales at 36,629 units. The company’s retail sales were up 7.7 percent at 11,802 units on a YoY basis.
Retail sales were up in the UK (64.9%), overseas markets (20.2%) and North America (2.5%), with Europe slightly below last year (3.1%), waiting for last WLTP certifications.
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“The China market remains unsettled following tariff changes and trade tensions (down 38.1%), although the reduction in duty from 25% to 15% is expected to be beneficial over the full year,” the company wrote in an exchange filing.
Market opens: It’s a red start to the truncated week, with the Sensex shedding over 100 points, while the Nifty fell below 11,600.
Tepid global market movements along with a weakness in the Indian currency are likely to have weight on the market. The Indian currency opened at another record low of 72.18 per US dollar, continuing its bearish move in the past few sessions.
The Sensex is down 116.02 points or 0.30% at 38273.80, while the Nifty is lower by 25.90 points or 0.22% at 11563.20. The market breadth is narrow as 460 shares advanced, against a decline of 440 shares, while 65 shares were unchanged.
Shares of Axis Bank and Infosys are the top gainers, while Sun Pharma, Kotak Mahindra Bank, and Indiabulls Housing have lost the most. Axis Bank’s shares are higher after it announced a successor to Shikha Sharma. Sun Pharma, meanwhile, is down on reports of fresh inspection by US FDA at its Mohali unit.
Market opens: It’s a red start to the truncated week, with the Sensex shedding over 100 points, while the Nifty fell below 11,600.
Tepid global market movements along with a weakness in the Indian currency are likely to have weight on the market. The Indian currency opened at another record low of 72.18 per US dollar, continuing its bearish move in the past few sessions.
The Sensex is down 116.02 points or 0.30% at 38273.80, while the Nifty is lower by 25.90 points or 0.22% at 11563.20. The market breadth is narrow as 460 shares advanced, against a decline of 440 shares, while 65 shares were unchanged.
Shares of Axis Bank and Infosys are the top gainers, while Sun Pharma, Kotak Mahindra Bank, and Indiabulls Housing have lost the most. Axis Bank’s shares are higher after it announced a successor to Shikha Sharma. Sun Pharma, meanwhile, is down on reports of fresh inspection by US FDA at its Mohali unit.
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