Sensex, Nifty fall for second straight session on weak global trends
The Hindu
Equity indices fall for 2nd day; Wipro's weak earnings, FII outflows weigh. Nifty down 0.24% to 19,624.70 pts. Wipro's net profit flat, Nestle's up 37.28%. Major laggards: Wipro, NTPC, Tech Mahindra, JSW Steel. Gainers: UltraTech Cement, IndusInd Bank, L&T, Axis Bank. Global markets in red; Brent crude down 1.99%. FIIs offloaded ₹1,831.84 cr.
Equity benchmark indices declined for the second consecutive session on October 19 amid weak trends in global markets and fresh foreign fund outflows.
Disappointing quarterly earnings numbers and revenue forecast from IT services company Wipro also weighed on investor sentiments.
The 30-share BSE Sensex fell 247.78 points or 0.38% to settle at 65,629.24 points. During the day, it plunged 533.52 points or 0.80% to 65,343.50 points.
The Nifty declined 46.40 points or 0.24 per cent to 19,624.70 points.
Among the Sensex firms, Wipro fell nearly 3% after the company reported an almost flat consolidated net profit at ₹2,667.3 crore for the September quarter, trailing street expectations. It has also projected up to 3.5% fall in revenue in the current quarter on weak global economic outlook and uncertain business environment.
NTPC, Tech Mahindra, JSW Steel, Bharti Airtel, Tata Steel, Tata Consultancy Services, ICICI Bank, Kotak Mahindra Bank and Reliance Industries were among the other major laggards.
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