Closing bell: Late sell-off drags Sensex 324 pts, Nifty ends April series below 11,700

Benchmark indices saw major selling pressure in late trade on April 25 and reversed more than half of previous day's gains.

The BSE Sensex fell 323.82 points to 38,730.86and the Nifty50 dropped 84.40 points to 11,641.80 amid rising crude oil prices.

Banking & financials pulled the market lower.

Bharti Infratel (down 10.22 percent),Tata Steel (2.76 percent),Vedanta (2.49 percent),Indiabulls Housing Finance (2.11 percent) andHindalco (2.07 percent) were top losers.

UltraTechCement andGrasim Industries rallied 5 percent each. BPCL,Dr Reddy's Labs andUPL were other gainers.

The rupee is trading at day's high, rising 0.51 percent at 70.22/$.

Brent oil rose above $75 per barrel for the first time this year as quality concerns forced the suspension of some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran.

Brent crude futures were at $75.33, up 1.02 percent. USWest Texas Intermediate crude was at $66.09 per barrel, up 0.3 percent. (Source: Reuters).

Company's net profit nearly doubled to Rs 109.8 crore in March quarter, against Rs 54.9 crore in same period last year.

Revenue from operations jumped55.4 percent to Rs600 crore during the quarter YoY.

Telecom regulator TRAI has directed Dish TV India to comply with the provisions of the new framework for broadcasting and cable TV services, acting on consumer complaints pertaining to the operators' specific offering and grievance redressal helpline.

TRAI, which has promised strict action against those cable TV and direct-to-home (DTH) players who are found violating its new tariff order and regulatory regime, had earlier this week also pulled up Bharti Telemedia on similar grounds.

As per complaints, the DTH operator "is forcefully offering a bouquet of free-to-air channels with no choice to subscribers and without their consent", the Telecom Regulatory Authority of India (TRAI), which is also the broadcast regulator, said in a directive on its website. (Source: PTI).

Country's largest passenger vehicle maker Maruti Suzuki India has reported a 5 percent year-on-year degrowth in March quarter profit, dented by weak operating performance and muted sales volume.

Net profit during the quarter declined to Rs 1,795.6 crore, from Rs 1,882.1 crore in same period last year. "This quarter was marked by adverse foreign exchange rates and commodity prices, higher depreciation and higher sales promotion expenses partially offset by cost reduction efforts," the company said.

Standalone revenue from operations grew by a percent year-on-year to Rs 21,459.4 crore in Q4 with sales volume degrowth of 0.7 percent YoY.

Maruti Suzuki India,Axis Bank,Tata Steel, Biocon, SBI Life Insurance Company, Aditya Birla Money, Cyient, GHCL, Indiabulls Ventures, MCX, Nestle India, AAR Commercial Company, Apcotex Industries, Betala Global Securities, Cochin Malabar Estates, Lloyds Metals and Energy, Oriental Hotels, PH Capital, Rallis India, Sterling Guaranty & Finance, Vesuvius India, Wendt (India)

Emerging Market Equity Strategist, Adrian Mowat told CNBC-TV18 that the dynamics for India within the emerging market pool is probably India is neutral to maybe a bit of an underperformer.

"Because it has these headwinds in terms of a stronger dollar and a higher oil price that would hit India more than perhaps it would hit a recovering Korea, Taiwan or China. I don't see how the election can generate a positive surprise because the expectation is a continuation of the current administration," he said.

Jaypee Infratech said the revised resolution plans have been received from NBCC (India) and Suraksha Realty led consortium.

"Resolution plans will be placed for discussion amongstcomittee of creditors members on resolution plans received from Resolution Applicants in the meetings to be held on April 26 and April 30, 2019 respectively," it added.

Zydus Cadila has received the final approval from the USFDA to market Leflunomide Tablets USP (US RLD — Arava Tablets), 10 mg and 20 mg, Cadila Healthcare said in its BSE filing.

It will be manufactured at the group’s formulations manufacturing facility at Baddi.

This medication is used to treat rheumatoid arthritis, a condition affecting multiple small and large joints of the body.