Sensex tanks 350 pts, Nifty breaks 9700; SBI, Hindalco top losers

Benchmark indices remained under pressure as the Sensex was down 345.85 points or 1.10 percent at 31,185.48 and the Nifty fell 119.05 points or 1.21 percent to 9,701.20.

The broader markets outperformed benchmarks as the BSE Midcap and Smallcap indices declined 0.7 percent each.

About 1,689 shares declined against 732 advancing shares on the BSE.

Aluminium major, Hindalco reported a fall of 1.6 percent in its June quarter net profit at Rs 290 crore against Rs 294 crore reported during the same period last year. The company reported one-time loss of Rs 104.4 crore for the quarter as well. The profit figure came in lower than the analysts’ poll number of Rs 383 crore.

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Posted in: Indian Market Tips