Market Live: Nifty cracks below 9,900 mark, Sensex falls 140 points on weak global cues

BSE Sensex fell on Thursday, while the Nifty traded below 9,900 points. Here are the latest updates and developments from the markets

BSE Sensex and NSE Nifty fall on Thursday. Photo: AFP

Mumbai: Continuing its downward trend, the BSE Sensex fell and the NSE Nifty broke below the 9,900-mark in early trade on Thursday amid weak global cues. Sentiment remained downbeat due to sustained capital outflows by foreign funds and retail investors on the domestic bourses.

The 30-share barometer declined with sectoral indices led by auto, PSU, power, oil & gas, capital goods, bank and metal accounting for much of the losses, declining up to 1.40%. The index had lost 527.57 points in the previous three sessions. Also, the NSE Nifty was trading lower. Brokers said steady capital outflow by foreign funds and a weak trend at other Asian markets following a sell-off in the US and Europe on escalating geopolitical tensions, kept the domestic bourses here on a sticky wicket.

Moreover, lower-than-expected quarterly earnings numbers by Tata Motors and Eicher Motors, too accelerated the selling pace to some extent, they added. Shares of Tata Motors fell 5.81% to Rs392.55 even as the company on Wednesday reported 41.54% jump in net profit to Rs3,199.93 crore for the June quarter.

The other laggards were ONGC, Adani Ports, NTPC, Maruti Suzuki, Power Grid, ICICI Bank, SBI, Hindustan Unilever, L&T, Tata Steel and Bajaj Auto, which also contributed fall in the indices. At other Asian markets, Hong Kong’s Hang Seng Index was down 1.52%, while China Shanghai Composite Index fell 1.06% in early trade on Thursday. Here are the latest updates

■ 10.00am: Natco Pharma fell 11% to Rs739.75. The company reported a net profit of Rs93.70 crore in June quarter, down 47% from Rs176.4 crore a quarter ago.

■ 9.50am: Mahanagar Gas Ltd fell 5.2% to Rs980.80. The company reported 34% increase in net profit for June quarter to Rs124.30 crore a year ago.

■ 9.45am: Trident Ltd fell 5.1% to Rs79. The company said in a notice to BSE that it will hold board meetings to consider fund raising on 12 August.

■ 9.31am: BSE Sensex trades lower by 123 points, or 0.41%, to 31,669, while the Nifty 50 falls 42 points, or 0.42%, to 9,867.

■ 9.25am: The 10-year bond yield was at 6.476%, compared to its previous close of 6.466%. Bond yields and prices move in opposite directions.

■ 9.20am: Idea Cellular Ltd rose 2% to Rs92.55 after huge block deal. Around 5.47 million shares of the company changed hands in two block deals, according to Bloomberg.

■ 9.15am: The rupee was trading at 63.97 a dollar, down 0.20% from its Tuesday’s close of 63.84.

■ 9.10am: Aurobindo Pharma Ltd rose 4.3% to Rs713.85. The company reported 11.4% decline in its net profit in June quarter to Rs518.50 crore against Rs585 crore a year ago.

■ 9.05am: Tata Motors Ltd fell 5% to Rs397.80 while Tata Motors DVR fell 5.6% after the company reported lower-than-expected performance by its JLR led by higher-than-expected forex losses and significant increase in other expenses.

■ 9.00am: Asian currencies were trading lower. Traders are focusing on US inflation data due Friday given its potential impact on Federal Reserve’s monetary policy. South Korean won was down 0.57%, Taiwan dollar 0.18%, Malaysian ringgit 0.15%, Philippines peso 0.12% and Indonesian rupiah 0.05. However, China offshore spot was up 0.22%.

With inputs from PTI