The market has ended at fresh 20-month low. The Sensex closed down 417.80 points or 1.7 percent at 24062.04 and the Nifty ended 125.80 points or 1.7 percent at 7309.30. About 543 shares have advanced, 2071 shares declined, and 138 shares are unchanged.
UltraTech Cement's third quarter
standalone profit shot up 39.4 percent to Rs 508 crore against Rs 364.4 crore
in year-ago period. It was supported by strong operational performance, other
income and lower finance cost.
Crude
futures slumped on Wednesday, with US oil dropping more than 3 per cent towards
$27 a barrel, which is its lowest since 2003, amid worries over a global glut,
said a Reuters report.
Key
benchmark indices extended losses in mid-afternoon trade as index heavyweights
Reliance Industries (RIL) and ITC extended intraday losses.
Crude
futures slumped, with US oil dropping more than 3 percent towards USD 27 a
barrel and its lowest since 2003, on worries about global oversupply.
The
Cabinet today approved a new power tariff policy that aims at promoting clean
energy, better regulation of discoms and faster rollout of investments.
Bajaj
Auto, Sun Pharma, Hero MotoCorp and Wipro were losers in the Sensex. Hindalco,
Adani Ports, SBI, Tata Motors and Reliance were top gainers.
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