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Market Wrap: Sensex falls 425 pts, Nifty at 10,944, Tata Motors down 18%

The S&P BSE Sensex ended at 36,546, down 425 points, while the broader Nifty50 index settled at 10,944, down 126 points

BS Web Team  |  New Delhi 

Benchmark indices ended over 1 per cent lower on Friday, weighed by a sharp sell-off in the automobile and metal stocks.

The S&P BSE ended at 36,546, down 425 points or 1.15 per cent, while the broader Nifty50 index settled at 10,944, down 126 points or 1.14 per cent.

Among sectoral indices, the index, the top loser of the day, settled 3.6 per cent lower as Tata Motors, MRF and Mahindra & Mahindra (M&M) lost considerable ground. Metal index ended 3.4 per cent lower with SAIL and Vedanta among the top losers.

In the broader market, the S&P BSE MidCap index ended 203 points or 1.40 per cent lower at 14,328, while S&P BSE SmallCap index settled at 13,656, down 122 points or 0.89 per cent.

Shares of Tata Motors ended 17.88 per cent lower at Rs 150.15 apiece on National Stock Exchange (NSE) after the major reported the biggest quarterly loss among Indian corporates as was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter on Thursday. CLICK HERE TO READ HOW BROKEARGES INTERPRET THE RESULTS

Shares of Mahindra & Mahindra settled at Rs 683, down 2.64 per cent on the BSE after the company and its subsidiary Mahindra Vehicle Manufacturers reported a 60 per cent YoY rise in their consolidated net profit at Rs 1,476 crore for third quarter (October-December) of FY19.

Revenue for the quarter rose 14 per cent to Rs 13,235 crore, against Rs 11,594 crore in the year-ago quarter.

Number of vehicles sold during the quarter came in at 1,33,508 units, up 10 per cent against 1,21,786 in the year-ago period.

First Published: Fri, February 08 2019. 16:48 IST
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