New Delhi: Stock markets opened in the negative territory on Wednesday amidst heavy sell off in auto and banking stocks.
The BSE Sensex fell 187.11 points or 0.54 percent to 34,762.13 while the NSE Nifty fell 61.65 points or 0.58 percent at 10,571.65.
The fall was led by Coal India, M&M, Power grid, Infosys, ONGC, Wipro, Hindustan Unilever, NTPC, Sun Pharma, Asian Paint, ITC and Indus Ind Bank by dropping upto 1.96 percent.
Coal India and Mahindra & Mahindra were leading the Sensex pack. M&M posted 2.45 percent gain after the company posted 50 percent jump in net profit to Rs 1,155 crore for the March quarter, driven by robust sales across segments including utility vehicles and tractors. M&M had reported a net profit of Rs 770 crore during the January-March quarter of the previous fiscal.
Its revenue and other income rose by 24 percent to Rs 13,355 crore during the fourth quarter of 2017-18, compared to Rs 10,795 crore in the year-ago period, M&M said in a regulatory filing.