The market lost momentum following Donald Trump's victory. It started the day with a slight dip and later fell further. Major indices dropped by more than 1 percent.
The Sensex reduced its losses to close at 79,530, while the Nifty finished at 24,203. The mid-cap index, which was initially rising, later turned negative. The Bank Nifty closed down by 1 percent, with financial companies seeing significant declines.
Hindalco’s disappointing performance in the second quarter, particularly from its foreign subsidiary Novelis, has left the company struggling. It has lowered its profit expectations, and the stock dropped by 7 percent.
On a positive note, Apollo Hospitals saw its stock rise by 7 percent after posting better-than-expected revenue and profits for the second quarter.
Shares of Adani Energy Solutions fell as much as 10 percent this morning. Other stocks in the Adani Group were also in the red, with Adani Enterprises down over 3 percent.
Avalon Technologies saw its shares jump by 17 percent to a record high of Rs 694.95, after reporting a 39 percent increase in revenue and a 140 percent rise in net profit.
Federal Bank shares hit a record high of Rs 207.80 today, before falling slightly.
Rain Industries’ shares fell by 5 percent due to lower profits and a decrease in profit margins.
Delta Corp, a gaming and casino company, saw its shares drop by 8 percent following a sharp decline in profits and margins for the second quarter. However, the losses were later reduced.
The rupee opened with modest gains today, with the dollar down by two paise at Rs 84.26, before rising to Rs 84.31.
Gold update
In the global markets, gold is trading at $2,659 per ounce. In Kerala, the price of gold jewellery fell by Rs 1,320 to Rs 57,600.
Crude oil prices continue to rise, with Brent crude reaching $75.60 per barrel.