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After Market: Airtel drops despite good Q4, ICICI Bank slips; 201 stocks hit lower circuits

Sino-US trade war jitters kept investors nervous s did speculations around India’s election outcome.

, ETMarkets.com|
Updated: May 08, 2019, 08.46 AM IST
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As many as 201 stocks, including Indiabulls Integrated Services, Capital Trust, IG Petrochemicals, SORIL Infra Resources and Next Mediaworks, hit their lower circuits on BSE.
NEW DELHI: Equity benchmarks Sensex and Nifty remained in the bearish territory on Tuesday, extending the losses into the fifth successive session amid an across-the-board selling.

Sino-US trade war jitters kept investors nervous as did speculations around India’s election outcome.

Sensex closed 324 points, or 0.84 per cent, down at 38,276 while Nifty settled 100 points, or 0.87 per cent, lower at 11,497.

We walk you through the key highlights of Tuesday's session:

Investors lose Rs 1.24 lakh crore in a day!
Tuesday's losses made investors poorer by Rs 1.24 lakh crore, as overall market capitalisation of BSE-listed firms dropped to Rs 1,49,13,994 crore from Rs 1,50,37,619 crore on Monday. In the last five sessions, investors lost nearly Rs 4 lakh crore.

Bharti Airtel stock loses steam
Shares of Bharti Airtel closed 3.10 per cent down at Rs 323.05, breaking the winning streak of three successive sessions despite better-than-expected March quarter numbers. Shares of the company slipped amid speculations over the company's operational details as the telecom major did not disclose them because of its ongoing rights issue.

ICICI Bank falls 4% on Q4
Extending the losses into the second session in a row, shares of ICICI Bank closed 3.77 per cent lower at Rs 386.25, a day after it posted lower-than-expected financial results for March quarter. The bank reported a 5 per cent year-on-year (YoY) drop in standalone profit at Rs 969.06 crore for Q4FY19 on higher expenses and lower treasury income.

Vedanta shares fall ahead of Q4
Shares of Vedanta closed 2.07 per cent down at Rs 163.40 ahead of its March quarter numbers. Post market hours, the company reported a 45.54 per cent drop in profit at Rs 2,615 crore (attributable to shareholders), which was better than Rs 1,532 crore profit that analysts had estimated in an ETNOW poll.

Britannia shares fall for 11th day
Shares of Britannia Industries settled 0.46 per cent lower at Rs 2,652, extending their losing streak into the 11th consecutive session. In the last 11 sessions, the stock has come off 12.24 per cent. A PTI report suggested that proxy advisory and corporate governance firm InGovern has demanded the resignation of company's promoter and director Ness Wadia, alleging that the company violated listing regulations by not reporting the sentencing of Ness Wadia by a Japanese court in March for possession of drugs.

Marico shares jump 6%
Shares of the consumer products maker closed 5.59 per cent up at Rs 359, a day after it posted a more than two-fold jump in March quarter consolidated profit.

CG Power shares fall 3%
Shares of CG Power and Industrial Solutions settled at 36.50, down 2.80 per cent after the company said it had terminated divestment deal for some Hungarian assets owned by its unit.

Sanofi India rises on Q4 nos
Drug maker Sanofi India reported a 12.60 per cent rise in its net profit to Rs 92.9 crore for the first quarter ended March 31, 2019. Shares of the company closed 1.14 per cent up at Rs 5,611.

Q4 booster for Gujarat Gas
Gujarat Gas on Monday reported a 77 per cent jump in net profit for the quarter ended March due to higher sales. Shares settled 1.51 per cent higher at Rs 161.55, extending the gains into the second session in a row.

180 stocks hit 52-week lows
As many as 180 stocks, including IDBI Bank, Jyothy Laboratories, Jet Airways, Cyient, Cox & Kings and Amara Raja Batteries, hit their 52-week lows on BSE. On the other hand, 63 Moons Technologies, AAVAS Financiers, DCB Bank and Megastar Foods were among the 31 stocks that hit their 52-week highs.

201 stocks hit lower circuits
As many as 201 stocks, including Indiabulls Integrated Services, Capital Trust, IG Petrochemicals, SORIL Infra Resources and Next Mediaworks, hit their lower circuits on BSE. Meanwhile, Reliance Communications, 63 Moons Technologies and Prabhat Dairy were among the 109 stocks that hit upper circuits.
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