Key benchmark indices extended losses and hit fresh intraday low in morning trade after witnessing high volatility in early trade. Weakness in Asian stocks weighed on sentiment. At 10:20 IST, the barometer index, the S&P BSE Sensex, was down 148.72 points or 0.56% at 26,508.11. The 50-unit CNX Nifty was down 42.25 points or 0.52% at 8,023.55.
In overseas markets, Asian stocks declined after soft Chinese factory surveys stoked global growth concerns. US stocks drifted lower on Friday, 30 October 2015, after government economic data released on that day and earlier that week suggested the economy is still sluggish,
The market breadth indicating the overall health of the market was weak. On BSE, 1,120 shares fell and 746 shares rose. A total of 80 shares were unchanged. The BSE Mid-Cap index was down 0.35%. The BSE Small-Cap index was down 0.45%. The decline in both these indices was lower than Sensex's fall in percentage terms.
Realty stocks were mixed. Indiabulls Real Estate (down 0.48%), Unitech (down 0.39%), DLF (down 0.86%), Housing Development & Infrastructure (down 2.62%) and Anant Raj (down 1.59%) edged lower. Sobha (up 0.96%), Phoenix Mills (up 1.82%), Oberoi Realty (up 1.47%), and Omaxe (up 0.37%) edged higher.
Bajaj Auto dropped 2.83% after the company reported weak sales in October. The company's total sales fell 9% to 3.52 lakh units in October 2015 over October 2014. Motorcycles sales fell 8% to 3.08 lakh units in October 2015 over October 2014. Commercial vehicles sales dropped 10% to 44,089 units in October 2015 over October 2014. Exports shed 19% to 1.27 lakh units in October 2015 over October 2014. The company announced sales figures for October during market hours today, 2 November 2015.
IT stocks were mixed. Tech Mahindra (down 0.72%), TCS (down 0.21%), and Infosys (down 1.85%) edged lower. HCL Technologies (up 0.63%) and Wipro (up 0.19%) edged higher.
Divi's Laboratories fell 1.5%. The company's net profit rose 28.78% to Rs 295.73 crore on 17.12% increase in total income to Rs 993.96 crore in Q2 September 2015 over Q2 September 2014. The result was announced on Saturday, 31 October 2015. Forex gain amounted to Rs 12 crore in Q2 September 2015 as against a gain of Rs 4 crore in Q2 September 2014, Divi's Laboratories said in a statement.
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