Key benchmark indices extended slide in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex was down 222.82 points or 0.79% at 27,868.60. The losses for the Nifty 50 index were lower in percentage terms than those for the Sensex. The Nifty was currently down 59.45 points or 0.68% at 8,631.85. The Sensex was currently hovering below the psychological 28,000 mark after falling below that mark in intraday trade. Weakness in global stocks weighed on sentiment on the domestic bourses.
The Sensex lost 282.26 points or 1% at the day's low of 27,809.16 in afternoon trade, its lowest level since 18 October 2016. The barometer index shed 40.87 points or 0.14% at the day's high of 28,050.55 in opening trade. The Nifty lost 74 points or 0.85% at the day's low of 8,617.30 in afternoon trade, its lowest level since 18 October 2016. The index fell 34 points or 0.39% at the day's high of 8,657.30 in opening trade.
In overseas stock markets, European and Asian stocks edged lower tracking decline in oil prices. US stocks closed modestly lower yesterday, 25 October 2016 amid mixed earnings and slide in oil prices.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 1,272 shares rose and 1,256 shares fell. A total of 234 shares were unchanged. The BSE Mid-Cap index was currently down 0.12%. The decline in this index was lower than Sensex's decline in percentage terms. The BSE Small-Cap index was currently up 0.16%, outperforming the Sensex.
Cement stocks were mixed. UltraTech Cement (down 1.47%), Shree Cement (down 0.27%) and ACC (down 0.67%) edged lower. Ambuja Cements (up 0.12%) edged higher.
Grasim Industries was up 0.55%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Pharma stocks edged lower. Cadila Healthcare (down 7.35%), Glenmark Pharmaceuticals (down 1.07%), Strides Shasun (down 1.04%), Aurobindo Pharma (down 1.19%), Sun Pharmaceutical Industries (down 0.91%), Divi's Laboratories (down 0.83%), Wockhardt (down 1.26%), Cipla (down 0.6%), GlaxoSmithkline Pharmaceuticals (down 0.41%), Alkem Laboratories (down 0.42%), Dr Reddy's Laboratories (down 0.1%) and Ipca Laboratories (down 0.68%) declined. Lupin (up 0.28%) edged higher.
Kokuyo Camlin fell 8.2% after the company reported net loss of Rs 3.68 crore in Q2 September 2016, higher than net loss of Rs 0.60 crore in Q2 September 2015. Total income from operations fell 0.15% to Rs 129.58 crore in Q2 September 2016 over Q2 September 2015.
Shakti Pumps (India) jumped 8.08% after net profit rose 5.87% at Rs 3.61 crore on 9.08% growth in total income to Rs 75.43 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 25 October 2016.
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