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The BSE Sensex lost 213 points to 16,812.51 and the NSE Nifty tumbled 67 points to 5,051.Indian equity market had a bad start on negative global sentiment and weaker-than-expected TCS and HCL quarterly numbers. The 30-share BSE Sensex dropped more than 200 points in the opening trade mirroring a global fall post German FM's statement. TCS and HCL Tech fell 7% each post their quarterly numbers. Metal, telecom, technology and financial stocks were on sellers' radar. Heavyweight Reliance Industries too down more than 1% after falling 4% yesterday.
Tata Consultancy Services reported a lower-than-expected 15% year-on-year rise in second quarter net profit at Rs 2,439 crore, amid continued uncertainty in global economy. "There are ambiguities in the external environment in the short-term," CEO and MD N Chandrasekaran told CNBC-TV18.
HCL Tech reported a fall of 2.5% QoQ in consolidated net profit of Rs 497 crore for the quarter ended September 2011.
Tata Motors, Wipro, Infosys, Hindalco, Tata Steel, Sterlite, Sesa Goa, JSPL, DLF, ICICI Bank, IDFC, SBI and L&T were pulling the markets down.
However, Coal India gained 2% post company solved bonus issue with workers.
The CNX Midcap Index plummeted 67 points to 7,072. About six shares fell for every share gaining.
IFCI plunged 3% post fall in second quarter profits.
MindTree jumped 4% post good numbers in Q2. ING Vysya Bank rose 2.5% post September quarter results.
Petronet LNG was up 1% ahead of results today.
Jaypee Infra went up 2%.
However, Hathway Cable, Den Networks and WWIL lost 3-6%.
Reliance Capital slipped 3%. Mahindra Satyam tumbled 3%.
Global cues
Asian markets were trading sharply lower. Hang Seng and Jakarta fell 3% each. Shanghai, Nikkei, Straits Times, Kospi and Taiwan lost over 1.5%.
Source: moneycontrol.com
