Sensex down over 150 points; Eveready Industries stocks fall

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Equity benchmark indices extended previous day's losses with the Sensex falling more than 100 points following correction in global peers on political turmoil in Italy. Banking, auto, metal and financials stocks dragged the indices lower.

At 11:27 AM, the BSE Sensex was trading at 34,722, down by 177 points, while the Nifty50 index was trading at 10,573, down 60 points.

BSE Midcap was up by 0.08%, while BSE Smallcap indices was down 0.04%.

Shares of IOC, HPCL and BPCL fell in the range of 1-2% after cut in fuel prices.

Shares of Manpasand Beverages hit 10% lower circuit. The stock has been falling for the last three sessions and has plunged as much as 42% after it informed the stock exchanges that its auditor — Deloitte Haskins & Sells resigned just four days before the board was to approve its quarterly results.

Shares of Glenmark Pharma dropped 3%. The company’s consolidated revenue for Q4FY18 declined by 7.2% yoy to Rs2,279.8cr. Its net profit decreased 17.5% yoy to Rs151.6cr for Q4FY18 vs Rs183.8cr in Q4FY17.

Shares of Granules India slipped 2% after the promoter created pledge on 5.5% equity on May 28.

Volatility index India VIX gained 2.25% to 13.3650.

Coal India (+2.8%), M&M (+1.6%), Power Grid (+1.4%), UPL (+1.3%) and NTPC (+0.78%) were the top gainers on Nifty50.

HPCL (-2.3%), Hindalco (-2.1%), Adani Ports (-2%), Cipla (-1.9%) and Hero MotoCorp (-1.8%) were the top losers in today’s trade.

Out of 2,043 stocks traded on the NSE, 711 advanced, 869 declined and 463 remained unchanged today.

A total of 10 stocks registered a fresh 52-week high in trade today, while 52 stocks touched a new 52-week low on the NSE.

The Indian rupee opened higher at 67.89 per U.S. dollar against yesterday's close of 67.87.

Asian indices saw a very weak opening with Japanese Nikkei trading lower by over 350 points, as US and Europe markets see huge sell-off on the back of rise in Italian bond yields. European markets to see further pain as PIIGS (Portugal, Italy, Ireland, Greece & Spain) problems resurface and hit financials as Euro hits 2-year low.

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