The 30-share BSE Sensex slumped 380 points or 0.57 per cent to trade at 66,079, while the broader NSE Nifty was down 112 points or 0.57 per cent to trade at 19,621. Mid- and small-cap shares were down as Nifty Midcap 100 fell 0.31 per cent and small-cap shed 0.10 per cent.
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Stocks to watch out for today: Metro Brands, Hero MotoCorp, Titan, IndiGo, Ambuja, Mankind Pharma, Adani Wilmar, Som Distilleries, Dalmia Bharat Sugar, Sula Vineyards, Adani Total Gas and more
Slew of domestic quarterly earnings releases by firms including Power Grid, Titan Company and Gail (India) and several AGMs are expected to focus investors attention on corporate earnings this week. Despite foreign institutional inflows slowing down after a strong start to the month, the overall trajectory of the Indian stock market remains positive, said Shibani Sircar Kurian, senior EVP and head of equity research at Kotak Mahindra Asset Management, although the market is consolidating after a strong recent rally.
Several Indian companies will trade ex-dividend this week, including L&T, Crisil, Coforge, Maruti Suzuki, and Kotak Mahindra Bank. Ex-dividend is when the equity-share price of a company is adjusted for the dividend payout, occurring one or two working days before the record date. The record date lists all shareholders that will qualify for dividends by the record s end.