Closing Bell: Nifty ends below 11,600, Sensex falls 495 pts; IT stocks gain

Indian indices ended at day's low as selling pressure dragged Nifty below 11,600, while Sensex also fell nearly 500 points.

At close, the Sensex was down 495.10 points at 38,645.18, while Nifty was down 158.30 points at 11,594.50. About 747 shares have advanced, 1751 shares declined, and 166 shares are unchanged.

Indiabulls Housing, Yes Bank, BPCL, IndusInd Bank and IOC were top losers on the Nifty, while gainers were Bharti Airtel, Wipro, TCS, Tech Mahindra and Infosys.

Among the sectors except IT all other indices ended in red led by energy, bank, auto, metal, pharma, infra and FMCG.

Gruh Finance is going to consider fund raising and recommendation of dividend on April 30 with audited financial results of the company for the quarter and year ended March 31, 2019.

As market favourites fall out of favour, Motilal Oswal lists 10 contrarian stock ideas

In the March quarter, the most popular stocks performed the worst, failing to beat the benchmark; whereas neutral to moderately popular stocks delivered the second best return... Read More

: Benchmark indices are trading at day's low level with Nifty slipped below 11,600 mark.

At 15:17 hrs IST, the Sensex is down 506.72 points or 1.29% at 38633.56, and the Nifty down 158.50 points or 1.35% at 11594.30. About 662 shares have advanced, 1742 shares declined, and 157 shares are unchanged.

: Net profit was down 34.5 percent at Rs 31.3 crore, revenue was up 44.8 percent at Rs 234.3 crore and EBITDA slipped 64.4 percent at Rs 8.1 crore.

Delhi High Court allowed export of 2 key drugs of Bayer by Natco & Alembic Pharma for R&D, source CNBC-TV18.

HDFC MF increased stake in Jagran Prakashan by 2.07% to 9.16% on April 18 via open market, source CNBC-TV18.

'Uptrend in Nifty may continue in mid term; range for Bank Nifty is 30,600-29,700'

Nifty is also trading above its two major simple moving averages 100-DMA and 200-DMA that are rising and placed around 11,000.... Read More

KPR Mill shares rallied nearly 5 percent on April 22 as board of directors will consider buy back of shares.

Net loss at Rs 8.8 crore against profit of Rs 11.8 crore. Revenue fell 19.5% at Rs 129.3 crore, EBITDA loss at Rs 9 crore.

Technology stocks gained strength as the Indian rupee traded lower, falling 27 paise to 69.62 a dollar but recovered from day's low of 69.87.

The Nifty IT was only gainer among sectoral indices, rising 0.64 percent driven by TCS, Wipro, Mindtree, Infosys and Tech Mahindra.

Benchmark indices extended selling pressure in afternoon with the BSE Sensex falling 358.58 points to 38,781.70. The Nifty50 was trading way below 11,700 levels, down 122.30 points to 11,630.50.

Mixed March quarter earnings and rising oil prices dented sentiment.

Market breadth was in favour of bears as more than two shares declined for every share rising on the BSE.