Indian Stocks Decline; Tata Motors Plunges 5.51 Percent
By IBTimes Staff Reporter | January 24, 2013 7:59 PM EST
Indian stock markets were trading lower in the afternoon session on Thursday, weighed down by losses in realty, auto and power sector shares.
The 30-share BSE Sensex declined 0.48 percent or 96.30 points to 19,897.89, and the 50-share NSE Nifty fell 0.69 percent or 41.50 points to 6,012.80.
Tata Motors shares plunged more than 5 percent after the company said that its Jaguar Land Rover (JLR) subsidiary was likely to report a lower profit margin in the October-December quarter compared with the previous two quarters.
Among the sectoral indices in BSE, realty and auto sectors plunged 3.21 percent and 2.81 percent, respectively, while FMCG and IT sectors gained 0.81 percent and 0.62 percent, respectively.
In the realty sector, Sobha Developers plunged 4.60 percent and Unitech fell 3.70 percent while HDIL tumbled 14.91 percent. HDIL shares slumped nearly 30 percent in the last three sessions after the company promoters and Citigroup sold partial stake earlier this week.
DLF shares declined 0.68 percent despite the news that the company stock was upgraded to “buy” rating from “neutral” rating at Goldman Sachs.
The overall market breadth was negative with 677 advanced against 1894 declines. The BSE's Midcap Index plunged 1.70 percent to 6,906.03 and Smallcap Index fell 1.52 percent to 7,136.69. CNX midcap Index declined 1.76 percent and CNX IT gained 0.56 percent.
Meanwhile, Asian stock markets were mixed on Thursday after a private survey showed that manufacturing activities in the world's second largest economy improved for the fifth straight month in January. The HSBC Flash Purchasing Managers Index (PMI), a measure of the nation-wide manufacturing, gained to 51.9 in January from December’s final reading of 51.5 and also topped analysts’ estimation of 51.7 reading. .
To contact the editor, e-mail:
Most Popular Slideshows
- Still The World Champions: Team USA Overpowers Serbia, 129-92 To Win 2014 FIBA World Cup [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- After Win Over Maidana, Mayweather Says He Is Prepared To Negotiate A Fight With Pacquiao
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
Join the Conversation
- Australian Stock Market Report – Afternoon September 15, 2014
- Iron Age For Australia Ends As Price Of Key Steelmaking Ingredient Dips Below $83/Tonne
- Australian Stock Market Report – Midday September 16, 2014
- Australian Stock Market Report – Morning September 15, 2014
- Australian Stock Market Report – Midday September 15, 2014
- iPhone 6 vs iPhone 6 Plus vs Galaxy S5 and HTC One M8: Performance, CPU and Health
- Google Release Roundup: Nexus 5 2014, Nexus 6, Nexus 8 and Android L Killer Features
- Samsung Attacks iPhone 6 Plus Through New Galaxy Note 4 Commercial: Apple Claims Imitating Galaxy Note Phablets
- iPhone 6 And IPhone 6 Plus Sold Out, New Stocks To Arrive In October
- Moto G (Gen 2) vs. Xiaomi Redmi 1S—Specifications, Features And Price Showdown
- Nexus 6, 8 Release Dates Imminent as Moto X Pre-Order Begins & Nexus 7 Deals Ramp Up
- iPhone 6 And iPhone 6 Plus Shipping Has Begun, Expected To Reach Customers’ Doorstep On Sept 19 Launch Date