Market LIVE: HDFC Twins, RIL, ICICI Financial institution pull Sensex 600 factors, Nifty ends under 11,750; India VIX Jumps 5%


On Wednesday morning, the SGX Nifty traded lower, suggesting a weaker start for the indices.

Stock market news today | Sensex, Nifty, Stock Quotes LIVE: The domestic stock market benchmarks BSE Sensex and Nifty 50 saw a sharp drop in afternoon trading on Wednesday. BSE Sensex fell 720 points to 39,802 while the broader Nifty 50 index gave up 11,700 and reigned at 11,695. IndusInd Bank stocks performed the worst, falling 3.5 percent, followed by HDFC, Tech Mahindra, ICICI Bank, HCL Tech, Kotak Mahindra Bank and Axis Bank. On the other hand, only three stocks, Bharti Airtel, Maruti Suzuki and M&M, were the Sensex winners.

Bharti Airtel reported a decrease in losses in the second quarter of this fiscal year. In Auto Major Tata Motors' quarterly figures, the company's losses soared. Both Bharti Airtel and Tata Motors reported their quarterly results yesterday. Bharti Airtel's net loss for the quarter was Rs 763 billion, compared to Rs 23,045 billion for the same period last year. Tata Motors, on the other hand, posted a net loss of Rs 307 billion for the July-September quarter of last fiscal year, compared to a net loss of Rs 187 billion. However, on a quarterly basis, both companies managed to reduce losses. Bharti Airtel's shares have only gained 7% since their March low, while Tata Motors zoomed 95%.

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Steven Gregory