Sensex sheds 300 points, Nifty slides to 24,300:Tata Motors PV cracks 5% post Q1 earnings

Indian benchmark indices opened in the red on Friday, tracking mixed global cues and stock-specific drag. The BSE Sensex tumbled 300 points to trade at the 77,800 mark, while the NSE Nifty 50 shed 80 points, hovering around the 24,300 level. Tata Motors PV Plunges 5% on Dismal Q1 Results The major drag on the indices early in the session was Tata Motors Passenger Vehicles (PV). Shares of the auto major cracked 5% to trade at ₹332.75 apiece. This sharp decline came on the back of the company’s April-June quarter (Q1) results, which reported a massive 80% year-on-year (YoY) plunge in net profit, down to ₹775 crore. Mixed Trends in Asian Markets Asian markets showed divergent trends in early trade today. While Japanese and South Korean indices gained, Hong Kong’s Hang Seng traded in the red. Wall Street Ended Higher on August 13 Overnight in the US, major indices closed in the green on August 13, led by gains in technology and benchmark growth stocks. FIIs Net Buyers Over the Last 7 Days According to the latest shareholding data, Foreign Institutional Investors (FIIs) have net purchased equities worth ₹720 crore over the last seven trading sessions. Meanwhile, Domestic Institutional Investors (DIIs) continue to provide strong support to the domestic market. (Figures in ₹ Crore) Previous Session Recap In the preceding session on August 13, the domestic market closed on a mixed note. The BSE Sensex managed to gain 114 points to end at 78,080, whereas the NSE Nifty 50 slipped 40 points to settle at 24,396.