Stock markets slip further after some disappointing corporate earnings
Mumbai (Maharashtra) [India], Feb 12 (ANI): Equity benchmark indices ended lower again on Tuesday with investors disappointed over some corporate earnings.
ANI
Feb 12, 2019 16:59 IST
Mumbai (Maharashtra) [India], Feb 12 (ANI): Equity benchmark indices ended lower again on Tuesday with investors disappointed over some corporate earnings.
At the closing bell, S&P BSE Sensex was down 241 points at 36,154. The Nifty 50 closed 57 points lower at 10,831.
Though many companies have posted good revenue growth during the October to December quarter, profit margins have been missed. This is leading to current market under-performance, experts said.
Auto major Tata Motors Ltd reported Rs 26,993 crore loss last week while Mahindra and Mahindra Ltd’s profit shrunk 11 per cent.
Hero MotoCorp, HDFC, and Bharti Infratel lost the most in intra-day trading. Heavy buying was witnessed in metal stocks like Jindal Steel, SAIL, Hindustan Copper, JSW Steel and Tata Steel.
Meanwhile, Asian stock markets were mixed but mostly in the green as investors awaited the outcome of a fresh round of trade talks between the United States and China in Beijing.
Deputy Trade Representative Jeffrey Gerrish is leading the US delegation for working-level discussions in efforts to reach a deal before March 1. (ANI)
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