Sensex skids 102 pts, Nifty ends below 8350; BHEL gains

Moneycontrol Bureau03:30 pm Market close: The Sensex ended down 102.15 points or 0.4 percent at 27459.23, and the Nifty slipped 24.00 points or 0.3 percent at 8337. About 1352 shares have advanced, 1391 shares declined, and 169 shares are unchanged.

BHEL, NTPC, HDFC Bank, Hindalco and L&T were top gainers in the Sensex. Among the losers are Hero MotoCorp, HDFC, ICICI Bank and Tata Motors.03:00 pm Boardroom: Untimely rains and weak rural demand impacted cash flows in the June quarter, Ramesh Iyer, Managing Director of M&M Financial Services told CNBC-TV18. The company reported a decline in its net profit by 42.6 percent to Rs 88.9 crore. The gross non-performing assets (NPAs) rose 8 percent. Iyer said the on-ground activity in rural market has been slow leading to pressurized cash flows for customers. The asset book has not improved in the last quarter. The company has 150 days in FY16 for NPA recognition, Iyer said.2:50 pm Market check: The Sensex is down 53.71 points at 27507.67, and the Nifty is down 10.75 points at 8350.25. About 1340 shares have advanced, 1304 shares declined, and 168 shares are unchanged.

HDFC Bank is up 1 percent while ICICI Bank is down 2 percent.2:40 pm Result: Housing Development Finance Corporation (HDFC) missed street forecast on Tuesday with the profit rising 1.2 percent year-on-year to Rs 1,361 crore as against expected growth of 4.5 percent. Total income from operations grew by 9.5 percent to Rs 7,057 crore from Rs 6,447 crore during the same period. 02:20 pm SEBI on IPOs: Capital markets regulator Sebi has sought clarifications from merchant bankers of four firms including IndiGo and Coffee Day Enterprises regarding their proposed initial public offers (IPOs). The other firms from which Sebi has sought information are RBL Bank (formerly known as Ratnakar Bank) and global sim card provider Matrix Cellular (International) Services. Without disclosing the details of clarifications sought, Securities and Exchange Board of India (Sebi) has said that it is awaiting response from 'Lead Managers' for the proposed public offers.

According to the latest weekly update on the processing status of draft offer documents filed with Sebi, the market regulator has said clarifications were awaited on the IPO of these four companies as on July 24, 2015.02:00 pm Market Check

Equity benchmarks remained rangebound in afternoon trade with the Nifty hovering around 8350 level. The broader markets, too, continued to be volatile.

The Sensex declined 10.49 points to 27550.89 and the Nifty rose 3.90 points to 8364.90. About 1318 shares have advanced, 1262 shares declined, and 163 shares are unchanged on the BSE.

Bank of India plunged 4 percent and Syndicate Bank crashed nearly 6 percent after sharp fall in profit and weak asset quality performance.