Mumbai: It was another topsy turvy ride for Indian markets in trade on Thursday. Depressing June IIP data coupled with dismal corporate results including some of the heavyweights like Tata Motors, Ranbaxy and Bharti Airtel weighed heavily on the market.
The Sensex shuts shop at 17560.87 down 39.69 points or 0.23 per cent at 17560.87, and the Nifty closed at 5322.95 down 15.05 points or 0.28 per cent. About 1109 shares advanced, 1619 shares declined, and 713 shares remain unchanged.
Country's largest telecom operator Bharti Airtel extended losses to 5.7 per cent from 4 per cent in afternoon trade as investors disappointed with the first quarter perfomance of telecom leader. Company expects the possibility of further fall in EBITDA margin.
Top lender State Bank of India tanked nearly 4 per cent after the weak industrial output data in June. Market experts feel the Reserve Bank of India may not cut policy rates in the September policy, even after disappointing data. PNB declined 1 per cent and Axis Bank was down 0.5 per cent whereas HDFC Bank gained 0.8 per cent. Housing finance company plunged 3 per cent.
Index heavyweight Reliance Industries dropped 1.5 per cent. Top commercial vehicle maker Tata Motors (ahead of Q1 results on Thursday) and private oil & gas producer Cairn India (as Rahul Dhir will step down at MD and CEO with effect from August 31) tanked nearly 3 per cent.
State-owned oil retailer BPCL tumbled 2.7 per cent ahead of numbers of its peers HPCL and IOC today. Ranbaxy Labs declined 1.5 per cent ahead of Q1 earnings on Thursday.
Coal India, country's largest coal mining company, gained more than 2 per cent. Sterlite Industries topped the buying list with gains of 3.6 per cent.
FMCG majors ITC and HUL were up 1.3 per cent and 2 per cent, respectively. Top software services exporter TCS rose 0.8 per cent.
Utility vehicle maker Mahindra & Mahindra rallied over 2 per cent following a rally of 4 per cent on Wednesday after strong numbers in Q1.
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