Reliance Industries, Kotak Mahindra Bank and HDFC were the top drags on the SensexDomestic stock markets started the week on a lower note despite strong earnings announcements by heavyweights such as Reliance Industries and HDFC Bank.
The SP BSE Sensex fell as much as 235.05 points to 38,905.23, and the NSE Nifty moved to 11,668.90, down 83.9 points from the previous close.
Selling in energy and banking stocks dragged the indexes lower, however buying in information technology shares provided some support to the markets.At 9:25 am, the Sensex traded 180.21 points lower at 38,960.07 while the Nifty was down 64.85 points at 11,687.95.Top laggards on the 50-scrip benchmark index at the time were Bharat Petroleum, Indian Oil, Yes Bank and Indiabulls Housing Finance, trading with losses of between 2.33 per cent and 3.53 per cent.Reliance Industries, Kotak Mahindra Bank and HDFC were the top drags on the SP BSE Sensex.Last week, HDFC Bank reported a record quarterly net profit of Rs 5,885 crore for the quarter ended March 31, meeting market expectations.Reliance Industries reported a record net profit of Rs 10,362 crore for the fourth quarter of financial year 2018-19, higher than Street expectations.Equities in other Asian markets were subdued as investors awaited the resumption of trading in major centres from the Good Friday holiday, andtook stock of recent data suggesting global growth may be stabilising.MSCI's broadest index of Asia-Pacific shares outside Japan little changed in early deals.
The Shanghai Composite Index slipped 0.3 per cent, South Korea's KOSPI edged up 0.1 percent and Japan's Nikkei added 0.15 per cent.(With inputs from Reuters)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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