Equity benchmark dropped on Wednesday session as selling pressure seen in banking and auto stocks. The market sentiment was also weighed after Asian stocks were down.
Shares of UPL, Shree Cement, Wipro, Sun Pharma and Tech Mahindra are the top gainers while
Tata Motors,
Mahindra & Mahindra, ONGC, Kotak Bank and Bajaj Finserv are the top losers.
The BSE Sensex was down 118 points at 50,075 while the Nifty lost 27 points to 15,080.
The Nifty Auto index dropped over a per cent dragged by Tata Motors which fell over 5% after it posted weak March quarter earnings. The Nifty Auto index down over 0.88% or 90.80 points down at 10,233.20 levels.
Tata Motors reported a net loss of Rs7,605cr due to Rs14,994cr exceptional charge on account of the JLR Re-Imagine strategy. Tata Motors Ltd is currently trading at Rs315.75, down by Rs16.6 or 4.99% from its previous closing of Rs332.35 on the BSE.
Shares of Tata Motors hit a most on the Nifty Auto index, down over 5%, followed by M&M which slipped over 1.9%, Ashok Leyland, MRF, Motherson Sumi and Maruti are trading in the red zone.
On the other hand, Bosch, Amara Raja, Hero MotoCorp, Balkrishna and TVS Motors are in the green zone.