Sensex extends losses for fifth day, falls 181 points on Q2 earnings

The BSE Sensex and NSE Nifty fell for the fifth consecutive day on Friday as quarterly results from ITC and Larsen & Toubro disappointed investors and raised concerns about the health of the corporate sector. The sentiments were also affected after Moody’s projected that RBI will keep rates on hold for the remainder of 2015, with a small chance of another cut early next year. Sensex closed 181.31 points down at 26,656.83 while Nifty settled 45.95 points down at 8,065.80.

ITC shares fell as much as 5.2 per cent after the company’s September quarter earnings missed analysts’ estimates. The stock was the biggest drag on the NSE Nifty. The share price of the FMCG major closed 4.47 per cent down at Rs 334.35.

Shares in industrial heavyweight Larsen & Toubro fell 4.11 per cent after its second-quarter net profit missed street estimates. The company also downgraded its order inflow guidance to 5-7 per cent from 15 per cent earlier.

But not all companies fell after earnings. ICICI Bank jumped 2.04 per cent after it reported a 12 per cent increase in quarterly profit due to faster retail loans growth.

Shares of Kotak Mahindra Bank jumped 3.77 per cent after the company reported a better-than-expected 28 per cent increase in quarterly profit and a stable bad loan ratio.

Dr Reddy’s Laboratories gained 1.32 per cent after the drugmaker posted record quarterly earnings on Thursday, outpacing analysts expectations as sales across North America, Europe and India rose.

Sectorwise, the BSE Capital Goods index slid the most by losing 2.65 per cent, followed by BSE FMCG index (down 2.34 per cent), BSE Realty index (down 1.39 per cent), BSE Auto index ( down 1.20 per cent), BSE Metal index (down 0.93 per cent). On the other hand, BSE Bankex and BSE Power index gained 0.92 per cent and 0.45 per cent, respectively.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)