Extending losses for the third consecutive session, the domestic markets ended sharply lower in trade on Wednesday, as investors remained cautious ahead of the conclusion of the US Federal Reserve's meeting later in the day and the expiry of monthly derivatives contracts back home this week.
The S&P BSE Sensex settled the day 204 points down, but managed to maintain its key support level of 27,000, while broader CNX Nifty ended at 8,177.15, down 55.75 points. At one point, the index had fallen below its crucial psychological level of 8,150.
Markets breadth remained fairly negative with 19 of the 30 Sensex stocks ending the day in red.
Here are top stocks which were in focus today:
- Axis Bank: Shares of Axis Bank tumbled over 7 per cent in trade on Wednesday as the private sector lender failed to meet Street expectations for the quarter ended September 30. The stock ended the day 7.36 per cent down and was the worst performer on both the benchmark indices. The script hit an intraday low of Rs 482.75, down 7.39 per cent, on BSE.
- Bharti Airtel: Bharti Airtel on Tuesday said its board has approved merger of wireless broadband firm Augere's India operations with the company. The company in August had announced to acquire the firm for an undisclosed amount.
- Trident: Shares of Trident surged over 8 per cent in trade on Wednesday after the company reported an over two-fold increase in its standalone net profit to Rs 50.97 crore for the second quarter ended September 30, mainly on account of reduced expenses. The stock ended the day over 6 per cent up after hitting an intraday high of Rs 47.50, up 8.57 per cent on the Bombay Stock Exchange.
- Thermax: Shares of Thermax skidded nearly 6 per cent in trade on Tuesday as the company reported 24.6 per cent drop in standalone net profit at Rs 64.83 crore for the quarter ended September 30, 2015. The stock ended 5.38 per cent down after hitting an intraday low of Rs 840.65, down 5.88 per cent on the Bombay Stock Exchange (BSE).
- Jubilant Life Sciences: Shares of drug firm Jubilant Life Sciences' fell 4 per cent in trade on Wednesday. The company's board will meet on Thursday to consider a proposal to raise about Rs 1,300 crore through issuance of securities.
- Ceat: Shares of tyre maker Ceat ended 2.78 per cent down after the company posted 30.41 per cent increase in consolidated net profit at Rs 107.4 crore for the second quarter ended September 30, primarily due to softening of raw material costs.
- Opto Circuits: Shares of medical devices firm Opto Circuits settled the day 4.89 per cent down after the company said its step-down subsidiary in the US has filed for bankruptcy to facilitate debt restructuring.
- Cairn India: Shares of Cairn India fell nearly 4 per cent in trade on Wednesday after the Vedanta Chief Executive Officer Tom Albanese ruled out speculations that the merger deal might be reworked to present 'sweetening offer' to Carin India minority shareholders. The stock ended 2.75 per cent down after hitting an intraday low of Rs 152.20, down 3.70 per cent on the Bombay Stock Exchange (BSE).